Martine Sitbon Files For Chapter 11

[stylegurrl]

MARTINE SITBON has filed for the French equivalent of Chapter 11 bankruptcy protection. The French designer, who set up her rock-meets-romance label in 1986, now has until November 20 to reorganise the business and find a new backer. Marc Ascoli, Sitbon's husband, assured Women's Wear Daily that they were "confident [of finding] a solution", hinting that discussions were already underway with potential investors. The Korean firm Shamzie, which is Sitbon's largest shareholder, suffered severe losses in the economic slow last year and Ascoli said that was the reason for the current situation. However, he stressed that life would go on as normal in the Sitbon office: the autumn/winter 2004-5 collection is being shipped to 70 wholesale clients, the Rue de Grenelle boutique will remain open and Sitbon herself is busy designing a spring/summer 2005 collection to present to buyers in September. He said that they had not confirmed yet whether there would be a catwalk show during Paris Fashion Week but said that it was looking unlikely. Martine Sitbon generates a wholesale volume of approximately £2 million. (August 12 2004, AM)

 

[softgrey]

nooooooooooooooooooooooo.................................................

i've always loved her designs even though i don't own anything...the prices are just too high and it's hard to find here...

i'm hoping they will work it out...sometimes chapter 11 is the best solution...it worked for barney's and bloomingdales...

 

[Johnny]

That's a shame. I liked her stuff too, although I also didn't own any of it (hmmm, maybe theres a clue to the problem here....).

 

[softgrey]

i know....i think distribution is low...

 

[metal-on-metal]

I guess everytime WWD publishes an article about the new ROARRRRRING fashion market, they don't include the little guy in their statistics. This news upsets me. She's a great designer and I hope she finds her way.

 

[softgrey]

yah...reports of the 'great recovery' are greatly exaggerated...

i still don't think it's over...

 

[faust]

If this keeps on going all we'll have left to choose between is LV and Gucci. In that case I'll move to Japan where they support talent.

 

[softgrey]

i'll just buy vintage and make my own stuff...

 

[Johnny]

Originally posted by faust@Aug 12 2004, 09:27 AM
If this keeps on going all we'll have left to choose between is LV and Gucci. In that case I'll move to Japan where they support talent.

[snapback]329409[/snapback]​

There's a mildly interesting article in Dazed and C about CDG and a mini interview with Rei. She, at least, does seem to be keeping the "independent" flag flying. She mentioned how her Dover Street store was the "opposite" of the new granite palace Burberry flagship in Japan. She keeps it real man! " : Chose CDG" as I think one of their old ad campaigns went!

 

[Spacemiu]

thats awful!

i love martine sitbon

 

[smashinfashion]

ack! i just saw this! one of my faves!

 

[Lena]

wishing her good luck in finding a new backer,
if not, she can always downsize and go indie.

to be honest she'll get more creative if she continues
with minimum financial support, backers are a dangerous breed

 

[asta]

i am sure that she will land back on her feet though!

 

[softgrey]

Originally posted by asta@Aug 22 2004, 02:36 PM


i am sure that she will land back on her feet though!

[snapback]341854[/snapback]​

speaking of landing on your feet...
anyone know who sells these boots?..

perhaps in london or paris?...

 

[smashinfashion]

Originally posted by softgrey@Aug 22 2004, 02:41 PM
speaking of landing on your feet...
anyone know who sells these boots?..

perhaps in london or paris?...

[snapback]341859[/snapback]​

in love with those
i was gonna maybe get these banana republic booties which are kinda similar

 

[softgrey]

oooo...i saw them...you should def get them smashin... i was also considering them...

such a good price...

 

[smashinfashion]

totally

 

[Lena]

great boots, thanks for bringing them in softgrey

 

[Incroyable]

Isn't Vivienne Westwood always known for her financial predicaments?

I really like Sitbon's menswear.

 

[marrimoda]

its certainly difficult news,I've liked her for a long time, but I choose to think that most times what needs to happen ...happens...and better comes along. These challenges are lessons. Thats my point of view.