French fashion label Carven is currently teetering on the edge of liquidation, facing a crucial moment in its long history. Ever since entering receivership in May 2018, there has been a glimmer of hope for the iconic brand with the potential recovery plan presented by former Balmain CEO Emmanuel Diemoz. Unfortunately, Diemoz’s recent decision to step away from the situation has left Carven in a dire situation.
Despite being on the verge of a breakthrough agreement with the label’s majority stakeholder, the Bluebell group based in Hong Kong, Carven is now at risk of being forced into liquidation. Without a viable recovery plan in place, the label’s fate lies in the hands of potential buyers who must come forward before the impending deadline set by the trade court in Paris.
The clock is ticking for interested buyers, who have until September 28th to submit their offers and make any necessary revisions by October 1st. The final decision regarding the fate of Carven will be made by the court on October 4th. The urgency of the situation has been emphasized by the appointed liquidator, Abitbol & Rousselet, who is urging potential buyers to act swiftly to rescue the esteemed French fashion house.
While there have been signs of interest from various parties, only one firm offer currently stands. Cashtex, a reputable textile and leathergoods wholesaler from Paris, has proposed to acquire Carven’s brand names, licenses, and assets for the sum of €500,010. Their vision includes restructuring the organization to enhance efficiency, with plans to retain 50 jobs and reclassify 39 others.
Founded in 1945 by Carmen Tommaso, Carven holds a significant place in French fashion heritage. Despite facing challenges in the past, the brand experienced a revival in the 2000s under new leadership. With majority ownership by Bluebell in recent years, Carven struggled financially and now stands at a pivotal juncture in its existence.
As the suspense mounts regarding the fate of Carven, the fashion community eagerly anticipates news of a potential buyer who can rescue the beloved 73-year-old label from impending liquidation. The future of this iconic French fashion house hangs in the balance, with hopes of a successful turnaround on the horizon.
Sources:
1. Vogue – Carven Facing Liquidation: The Future of the French Fashion Label
2. Business of Fashion – Carven Paris Looks to Recovery Plan as CEO Departs
