French cosmetics house Clarins SA is to pull out of couture after failing to stem losses of more than 20 million euros (US$21.6 million) at its Thierry Mugler unit.

Pierre Milet, Clarins vice chairman in charge of finance, said the company remains open to offers from trade buyers, though none have been received so far. A meeting of the Thierry Mugler works council has been set for 26 February when Clarins will present any formal closure or sale plans to workers' representatives.

Clarins took control of the Thierry Mugler couture business in 1997. Its only venture in clothing saw revenue fall 18 per cent to 29.5 million euros ($31.8 million) last year.