Pierre Cardin, the owner and creator of the iconic and world wide brand signed with his name, declaired, that he is prepared to sell his lifetime work. He explains he is worried about the brand’s future and needs to be sure that his work will be maintained the way he sees it.
Cardin gave also the asking price for his brand – 1 billion euro. The owner named this sum, although he himslef does not know how much the company is worth and how much does it gain every year. Putting a valuation on the fashion company indeed may be difficult given the lack of financial information disclosed – as it does not have a stock market listing and its global sales are generated by some 400 license holders worldwide. Many experts point it out, describing it as the company’s weakness.
The Pierre Cardin label has been founded in the 1960s. At the time it represented the avanguard line of fashion, today though a common custmoer would realte it with men’s suits and shirts. Despite the undeniable success, Pierre Cardin never reached a steady posicion. Since the 1990s, it has been observed that the quality was no longer high, therefore the brand started to loose it’s luxurious customers.
Isn’t then a billion suro an amount beyond anybody’s interest? Experts on the subject say, that the label may be worth significantly less and that with this sum Cardin has no chance to find a trader. Supposedly, the designer is already in contact with investors from the United Kingdom, China and the United States of America.
Czy zatem miliard euro nie jest zbyt wygórowaną ceną? Eksperci zanzaczają, że prawdopodobnie jest ona warta znacznie mniej oraz, że sprzedaż za taką sumę może nie dojść do skutku. Cardin ponoć prowadzi już rozmowy z inwestorami brytyjskimi, chińskimi i amerykańskimi.
