Hongkong Lifeng Feng Family And "Play Disabled" A Brand Sonia Rykiel Bankruptcy Three Months No One Was Liquidated.

At the end of April, it filed for bankruptcy protection. It was still unattended for three months after being taken over by the French commercial court. The brand name of the late French designer Sonia Rykiel, Sonia Reid, was known as "knit Queen" and was forced to liquidate.

It is alleged that after receiving the order of the court, a brand employee can not help crying on the spot.

Sonia Rykiel is not just a famous designer. In 1971, she signed a famous feminist manifesto with a red hair tag. It paved the way for the legalization of abortion in France.

The liquidation of the French brand, which was founded in 1968, means that it is about to start discounting the inventory, then close all stores and dismiss all 131 employees.

Sonia Rykiel was born in Neuilly in the outskirts of Paris in 1930. In 1961, when she was pregnant for the second time, she started designing for herself because she was unable to find her body to sing the pregnant maternity dress. In 1968, she opened the first store of personal namesake brand in St.-Germain-des-Pr ye s, Paris's left bank, and declared the birth of the brand with the same practical and comfortable clothing style.

In 1995, she transferred the brand creativity and management power to Nathalie Rykiel, which became the brand president in 2007. Sonia Rykiel's contribution to the French fashion industry allowed him to be awarded the French legion of honor Legion two times by the French president.

In 2012, Sonia Rykiel published the last book, Dont forget that I am acting (don't forget my acting) in the last book co published with reporter Judith Perrignon, disclosing that she has suffered from Parkinson's disease for 15 years, but has been concealing it from the outside world and even her family.

In the same year, the Sonia Rykiel family sold the brand 80% stake to the Feng family in Hongkong, respectively as the world's largest clothing and toy supplier Li & Fung Ltd. Lifeng Limited (0494.HK) honorary chairman and chairman of the Feng Guojing and Feng Guoguan investment company Fung Brands, also is the current First Heritage Brand, the company also has Belgian leather luxury brand and French high shoe shoe brand, and the British tailor brand name also applied for bankruptcy protection in January this year.

In August 2016, designer Sonia Rykiel died in Paris due to complications of Parkinson's disease at the age of 86.

It is reported that First Heritage Brands has commissioned the Compagnie Financi re re Edmond de Rothschild to search for investors or dishmen in January, but eventually entered the government takeover process.

The French Commercial Court publicly auctioned Sonia Rykiel during the deadline for takeover as of June, and no one was interested. After a month's extension, it remained unattended.

Sonia Rykiel continued to decline after acquiring 80% stake in First Heritage Brands in 2012. According to the echo of France, the brand recorded nearly 35 million euros in 2018, less than half of 83 million 700 thousand euros in 2011, and the loss increased from 20 million euros to 1 million 400 thousand euros six years ago.

Over the past seven years, First Heritage Brands has invested more than 200 million euros in Sonia Rykiel, including 10 million euros last year to celebrate the brand's 50th anniversary.

In October 2016, the Sonia Rykiel brand reduced the number of tourists and reduced the Russian demand in the main export market by reducing the number of 79 employees, almost equal to the 1/4 of the total number of employees at that time. At the same time, the Sonia by Sonia Rykiel was also closed.

For the past seven years, the two art directors, Geraldo Da Conceicao and Julie de Libran, have failed to help brands absorb millennial consumers who relate to the survival of luxury brands. As part of the employment contract, Julie de Libran has obtained a 10% stake in Sonia Rykiel. At present, the two sides still hold consultations on the cancellation clause.

Apart from ten stores in France and around 200 sales outlets around the world, the brand is left with an independent store in Macao, and stores in New York, London, Brussels and Luxemburg are closed early this year due to poor returns.

Although the industry believes that Sonia Rykiel still has its role in licensing business and brand cooperation, the results show that investors still lack confidence. At present, the brand has three authorized businesses: Children's clothing, home and glasses. E-commerce will also be an important channel for the brand to reduce the average age of customers (over 50 years old).

Robert Clergerie CEO Perry Oosting was also Sonia Rykiel CEO in August 2018, and First Heritage Brands's chief executive officer is Louis Weedon, former executive vice president of Louis Louis.