Tomas Maier to close down
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After more than twenty years of operation, Tomas Maier is no more. The luxury fashion label, founded in 1997 by the German designer of the same name, will cease operations by year-end.
French luxury conglomerate Kering, which acquired the women’s wear brand in 2013 via a jointly owned company of which it was a major shareholder, confirmed this week it “is ending its partnership with the label, which is ceasing operations.”
The label has between 20 and 30 employees, and “in the next few months, [Kering] will make every effort to protect their jobs, coordinating with the label’s local employee representatives,” read a press release.
Furthermore, writing appointments for the resort 2018 and men’s spring 2019 collections have been cancelled and it is understood the next collection probably will not be produced.
Earlier in the month, Tomas Maier resigned from his role as creative director of Bottega Veneta, which is also part of Kering.
With a resume that reads Guy Laroche, Sonia Rykiel and Hermès, Maier was pivotal in making Bottega Veneta’s sales go from €50 million to €1 billion in 17 years.
However, the brand lost momentum in recent years, and Kering changed its creative leadership. Daniel Lee, most recently director of ready-to-wear at Céline, succeeds Maier from 1 July.
Parent of luxury brands including Gucci, Balenciaga, Saint Laurent and Boucheron, Kering has been selling-off its stake in less profitable fashion brands. It recently disclosed it is in talks to sell its shares in Christopher Kane back to the namesake designer and bid adieu to sports brand Puma earlier in the year.
Questions & Answers
Q.When did Kering acquire Tomas Maier and what was their involvement?
When did Kering acquire Tomas Maier and what was their involvement?
Kering acquired the women’s wear brand in 2013. This was done through a jointly owned company where Kering was a major shareholder, before confirming this week that it is ending its partnership.
Q.What will happen to the employees of Tomas Maier as the label closes?
What will happen to the employees of Tomas Maier as the label closes?
The label has between 20 and 30 employees. Kering stated it will make every effort to protect their jobs in the next few months, coordinating with local employee representatives.
Q.Were any future collections planned for Tomas Maier before the closure was announced?
Were any future collections planned for Tomas Maier before the closure was announced?
Yes, writing appointments for the resort 2018 and men’s spring 2019 collections had been cancelled. It is understood that the next collection will probably not be produced.
Q.What other changes has Kering made recently regarding its brand portfolio?
What other changes has Kering made recently regarding its brand portfolio?
Kering has been selling off stakes in less profitable fashion brands. It is in talks to sell its shares in Christopher Kane and sold its stake in sports brand Puma earlier in the year.