TOLEDANO JOINS LAROCHE AS MANAGING DIRECTOR
PARIS — Ralph Toledano, a fashion consultant here, is joining Guy Laroche as managing director, a new position.
Toledano, 44, who spent 10 years at Karl Lagerfeld, leaving as president at the end of 1994, will begin at Laroche today and reports to company director Jean-Jacques Schmoll.
Since his departure from Lagerfeld, Toledano has been consulting for both European and American fashion houses, including Donna Karan.
“I wanted a big challenge, and I got it,” said Toledano. Guy Laroche, part of the huge Bic group, has been going through restructuring for the last few years, and while some measures have begun to pay off, the house is still losing money. For the first half of 1995, Laroche’s operating losses were flat at $6.8 million (34 million francs) at current exchange rates, compared with the same period in 1994.
In 1994, Laroche had losses of $8.6 million, greatly improved from the 1993 losses totaling $24.4 million, on consolidated sales of $69.6 million.
While Toledano could not elaborate on his specific strategy for the group, he credited Schmoll for implementing effective restructuring measures and cutting losses. “Jean-Jacques Schmoll has made major improvements regarding company operations,” Toledano said. “Our goal is to complete the turnaround.”
It’s no secret that Bic has expressed an interest in selling off Laroche, but it has wanted to get Laroche back in tip-top shape before shopping the company around. Toledano would not comment about this eventuality.
“My priorities will be as usual: focusing on the product, sell-through and profits,” Toledano said.
“The challenge here is to build up the ready-to-wear and accessories into a high-end business, creating goods that will sell through. Product and profit are the big issues here,” Toledano said.
Recent news at Laroche includes the house’s decision to suspend its haute couture activities. Next week, Laroche will present an off-runway mini haute couture collection whose models will be translated and integrated into the luxury ready-to-wear collection.