- Marjorie van Elven |
Spanish fashion brand Desigual, best known for its colorful designs, has ended the collaboration with its first-ever artistic director, Jean-Paul Goude, who had been working for the company since August 2017.
Desigual told Spanish fashion publication Moda.es that Goude’s functions will be taken over by its internal design team. It also intends to continue the strategy of partnering up with external designers from time to time.
The news comes seven months after French investment group Eurazeo sold its 10 percent stake in Desigual, acquired four years prior for 285 million euros (approximately 322 million US dollars), back to the label’s founder and CEO Thomas Meyer, making him the sole shareholder of the company again.
Desigual has been struggling for quite some time. In the first six months of 2018, before the company was sold back to Meyer, the company’s turnover decreased 14.5 percent to 323 million euros (365 million US dollars) in comparison to the same period the previous year. Founded in 1984, Desigual is present in over 100 countries thanks to a network of more than 500 multi-brand stores.
Picture: Facebook Desigual