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Alain Prost led consortium to takeover Lejaby
23
Jan '12
Tribunal de Commerce de Lyon, the commercial court of the east-central French city of Lyon, has chosen a consortium led by Alain Prost to takeover the bankrupt French lingerie maker Lejaby.

Alain Prost was earlier Managing Director at French lingerie label Chantelle and had also served as CEO of Italian luxury and fashion lingerie maker La Perla.

Post decision of the court, Alain Prost announced the closure of Lejaby's last plant in Hexagon which employed 93 people. He also announced introducing a new “very high range” line, which would be a 100 percent Made-in-France product.

Nearly 83 percent of Lejaby items were produced in Tunisia and about 10 percent were manufactured in China, before the firm became insolvent, the former CEO of La Perla said.

The consortium led by Mr. Prost was chosen by the Lyon Tribunal as it promised to retain 195 of the 450 Lejaby employees in France.

Mr. Prost said he had made about one million euros available to the liquidator for overseeing the welfare of the employees who lost their job. The amount includes 500,000 euros in social support.

He informed that he would invest 7 million euros this month to create a new business that will have financial viability and would also give hope to employees.

He plans to assign the job of launching the new project of luxury lingerie 'Lejaby couture' to Lejaby's existing team of 80 designers and textile engineers.

The new label would be targeted at international markets and it would take about three to four years time to penetrate in overseas markets, he said, and forecasted that Lejaby would gross revenues of 20-22 million euros next year from its sales in Europe, Russia and the French markets.

Fibre2fashion News Desk - India

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