Due To Careful Consideration, Shanghai Wo Wo Decided Not To Run The New Carven Series.

The French luxury brand Carven, which has been acquired, will emerge in a more cautious and low-key fashion in the next one or two years.

According to a person familiar with the news, Fashion Network, the fashion media, said that despite the prudent consideration, although the latest series of Carven, the 2019 autumn and winter series, has been jointly completed by the internal creative team and will be listed on schedule as scheduled in the second half of 2019, the Shanghai hahe Fashion Industrial Group Limited, which was recently purchased, is not ready to hold any kind of press conference for the new series. (Network)

The most important reason behind this is that he has not yet found a new creative director for Carven. The direction that he hopes to reshape the brand image for Carven has not yet been determined.

Before that, Carven had not released a new design for a year - the latest brand new series still stayed in the autumn and winter of 2018.

In October 2018, Shanghai Wo announced the acquisition of the French high fashion brand Carven at a price of 4 million 200 thousand euros (33 million 190 thousand yuan).

At that time, Carven had been in financial distress for a long time. Its sales performance in 2017 was only 21 million 500 thousand euros, which was half of its 2014 sales. Meanwhile, its debt platform became more and more crowded, and it was as high as 40 million euros.

Eventually, it filed for bankruptcy protection in the Paris Commercial Court in May 2018.

Through this acquisition, Wo Wo has mastered the wholesale business of contributing 80% to Carven, as well as 5 entity stores and brand e-commerce business.

According to the takeover agreement, 72 of the 73 employees employed by Carven will remain in office.

The only one to quit is creative director Serge Ruffieux.

In the related announcement, he expressed the recognition of Ruffieux's design ability, but the group needed time to reassess the direction of brand creativity and design style so as to make the most appropriate choice for restarting Carven.

According to Fashion Network, the new creative director will take office at least after 2020, so the low-key listing for the 2019 autumn and winter series will continue for the two quarter or even longer.

Yu Zhi, though the creative director of Carven is not in place, the reform has begun.

One obvious performance is that the team of 72 people during the acquisition period has now been reduced to about 50 by the above-mentioned reports.

And he is also preparing for the development of the Carven market in China.

According to the plan, Wo Wo will open 40 new stores for Carven in the Chinese market in the next two years.

Among them, the first batch of stores will be unveiled in the coming months.

These new stores will sell the 2019 autumn and winter series that Carven is ready for.

At the same time, he is also planning the international expansion of the group's namesake brand. The acquisition and successful operation of Carven is the basis for implementing relevant strategies.