PARIS — Beefing up management ranks ahead of a repositioning and expansion drive, Façonnable has tapped an executive with a strong track record of jump-starting men’s wear businesses.
This story first appeared in the July 22, 2013 issue of WWD. Subscribe Today.
Moustapha El-Solh, chief executive officer of the Nice-based firm, has named Ludovic Le Gourrièrec his deputy managing director.
Previously, Le Gourrièrec headed the men’s wear division at Yves Saint Laurent in Paris. Before that, he developed the men’s wear businesses at Lanvin and John Galliano.
Founded in 1950 by Jean Goldberg, Façonnable is known for its classic men’s tailoring and sportswear springing from its chic French Cote d’Azur origins.
Lebanon-based M1 Group bought the company from Nordstrom in 2007 for $210 million, and expanded the lifestyle component of the label, using higher-end and more sophisticated materials and details.
The U.S. and Europe account for 70 percent of company sales, which last year totaled almost 170 million euros, or $217.6 million at average exchange. El-Solh said recently his goal is to reach revenues of 300 million euros, or $391 million at current exchange, in two years, through global expansion and investments in retail.
The company currently has 34 directly operated stores and 37 franchised units.