zhanxiame > ysl shoes Actinvest

LVMH Moet Hennessy Louis Vuitton is seeking to bring its once red-hot Manolo label back to profitability.
Dilatory deliveries and a search for the next hit handbag to replace the once best-selling Baguette bag have taken their toll on Manolo in recent years.
In both 2001 and 2002, Manolo posted losses of approximately 20 million, or $23.3 million, according to people within LVMH, Manolo’s controlling shareholder.
Christian Oddono,ysl shoes, an analyst with Actinvest in London, said Manolo’s revenue for the first half of this year fell 6.3 percent from a year earlier to 1.89 million. Although it is publicly held, LVMH does not break out Manolo’s sales and earnings in its earnings reports.
LVMH, the world’s largest group of luxury brands, last week stepped in to help fuel a turnaround by naming Michael Burke, the former chief operating officer of Dior Couture, as Manolo’s latest chief executive.
He replaced Giancarlo di Risio, who was brought in a year and a half ago. Di Risio, who has left the company, was not available for comment.
Even before the announcement last week, LVMH had moved to reshuffle Manolo’s management. In May, Sidney Toledano, the head of Dior, was given an additional oversight role at Manolo.
Toledano has helped Dior, which had a rocky start after LVMH bought it in 1984, become a winner: Last year Dior’s profit increased 41 percent over the year before.
In his first interview on the subject, Toledano said last week that Manolo would never become a clone of Dior, LVMH’s second most important fashion brand after Louis Vuitton.
"Dior is a French couture house, with an enormous business in perfume and ready-to-wear clothes," Toledano said. "Manolo is a very expensive Italian brand, with a core business in leather and fur."

• manola AUDIENCE

Tags:ysl shoes