MILAN — Pineider, the Florentine stationery maker favored by the likes of Anna Wintour and other style mavens, is about to be liquidated, ending its history of more than 200 years.
This story first appeared in the January 21, 2004 issue of WWD. Subscribe Today.
A Pineider spokeswoman confirmed that the investment group Hopa, its controlling shareholder, plans to liquidate the company but declined to comment further. Hopa officials could not be reached for comment.
Italian daily Il Sole 24 Ore reported Tuesday that Hopa expects to shutter Pineider in light of the firm’s poor financial performance and lack of any concrete bids from other parties to buy the business. The paper said the stationery and leather goods house posted 2001 sales of 10.72 million euros while production costs totaled 18.87 million euros.
America designer Rebecca Moses, who was hired in 2002 to develop a lifestyle collection and rejuvenate the brand’s image, said she found out about the liquidation on Tuesday while attending to business in Paris.
Moses, reached by phone, said she was pleased with the project she carried out, crafting a comprehensive collection ranging from leather desk sets to hand-painted flatware and scented candles. But she added that Hopa wasn’t the right company to lead Pineider as it lacked experience in luxury goods and an understanding of what resources it takes to relaunch a brand. Pineider did manage to snag coveted distribution points in such stores as Bergdorf Goodman and Neiman Marcus.
“I delivered everything I promised them, but they had to take it from there,” she said. “When you give birth to a child, it doesn’t become a doctor in two years.”
In late 2002, Moses’ eponymous fashion firm halted production when Moses split ways with her investor partners, the Marenzi family, which owns Herno.