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SHE’S NOT FOR SALE: French Elle employees can breath a sigh of relief. Their publication is not about to go on the block, according to the chairman and chief executive officer of the magazine’s parent company Lagardère Active, Denis Olivennes.
Asked whether the publication could be one of those the company plans to sell off as part of rationalization plans to be detailed later this month, Olivennes told WWD: “No. Definitely no, a categoric no.” He continued: “Elle is a marvelous publication, and we are very proud to own it. It is the jewel in the crown. The crown has other baubles, but Elle is the jewel.”
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This story first appeared in the October 2, 2013 issue of WWD. Subscribe Today.