Sankyo Seiko to acquire French luxury fashion house Leonard
Privately owned French fashion house Leonard, famous for its stylized orchid print, is being sold to its long-time partner in Asia, Japan-based Sankyo Seiko, the company said on Monday.
The move marks the end of family ownership for the luxury brand, which was founded in the year 1958, and signified the grapple of smaller, independent European houses to maintain relevance in a fast-shifting and highly competitive retail landscape influenced by large, international groups such as Kering and LVMH.
The brand will maintain its place on the Paris fashion week calendar and its spring summer 2023 collection will be the first show under the guidelines of the new owner, a retailer, apparel producer and importer that has worked with the house for fifty years.
According to the statement, the aim is to further expand Leonard, which sells dresses costing upwards of 1,170 euros and accessories, in Asia, drawing on its existence in South Korea to push further into Taiwan and Japan.
Nathalie Tribouillard Chassaing, president and ceo of the brand said, “The heritage and know-how of our house will live on throughout the world for many years to come”.