France: Yves Saint Laurent Couture Consults on Reorganization
Yves Saint Laurent Couture S.A.S, a division of Gucci Group N.V., (NYSE and Amsterdam: GUC) announced today that it had met its works council and that of its subsidiary C. Mendes S.A to present a proposal for a reorganization plan concerning its women's ready to wear and accessories businesses.The meetings have been prompted by static sales both in France and internationally and a gradual reduction in the appeal and positioning of the Yves Saint Laurent brand throughout the world.The new management of Yves Saint Laurent Couture intends to re-launch Yves Saint Laurent as one of the world's leading luxury goods brands.The reorganization under discussion of women's ready to wear and accessories would encompass: - Repositioning the brand through redefining its image and significant investments in communications and a new store concept-The adoption of a new business model centered upon direct control of production and distribution- Concentration on the Rive Gauche line - The reorganization would also lead to the optimization of Yves Saint Laurent Couture and C. Mendes activities.Over the next few weeks Yves Saint Laurent Couture management and the works councils will evaluate the project, which seeks to secure a successful future for the Yves Saint Laurent brand.Founded in 1962, Yves Saint Laurent Couture is a world-renowned luxury goods company. It designs, produces and distributes women's and men's ready to wear clothing and fashion accessories both directly and under license. The company is a division of Gucci Group N.V. quoted on the New York and Amsterdam stock exchanges.
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