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In Focus
Mirabaud, under leadership of Renaud Dutreil, faces setbacks in luxury sector

Renaud Dutreil is under pressure as the jeweller Korloff, owned by the Swiss fund Mirabaud Living Heritage, struggles.© Studio Pachamama

The debt-laden jeweller Korloff is being sued by suppliers and by its former boss. For its majority shareholder, Mirabaud Living Heritage which is run by French former minister Renaud Dutreil, its demise would be the third in less than a year, following the failure of its investments in shoe manufacturer Clergerie and Le Coq Sportif.

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Families

Lagerfeld inheritance still up in air six years on

None of the eight heirs of the star fashion designer, who died in February 2019, has yet collected on their inheritance on account of outstanding tax arrears.

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Houses

Why Hermès refrained from bidding for the original Birkin

The very first Birkin handbag, named after the late actress and singer Jane Birkin and now a cult item, was sold at Sotheby's last week, breaking all previous auction records for a handbag. But Hermès, the company that designed it, preferred to look on from a distance.

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Jonathan Anderson juggles his fashion priorities

Recently installed as creative director for all of Dior's collections, the Northern Irish fashion designer will be expected to create 18 clothing ranges annually for his new employer. But his current partnership with Uniqlo would also require him to produce two own-label collections every year.

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Chanel continues to storm Italy with further ventures

In under two years, the luxury brand has opened no fewer than four shops in Italy and is about to launch a fifth, as well as planning a major fashion event in the country next spring.

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How Balmain came to deprive boss of its shareholder of jewellery licence

The private company of Rachid Mohamed Rachid, who runs Mayhoola, the main shareholder in Balmain, has lost its contract to make jewellery for the luxury fashion house.

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Former Valentino boutique on Avenue Montaigne set for facelift

France's Commission Départementale d'Aménagement Commercial has just scrutinised the application submitted by BNP Paribas REIM for its building at 17-19 Avenue Montaigne in Paris.

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Entourage

Condé Nast's former Vogue editors on the move

Edward Enninful, former editor-in-chief of British Vogue and still an editorial advisor to Condé Nast, has launched his own media company - and looks set to step on his former employer's toes in the autumn.

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Laurent de Gourcuff takes legal gamble in buying back his nightclubs from Accor

Less than three years after selling off his entire portfolio of restaurants and nightclubs to the hotel giant, the French businessman is buying back the nightclubs, the most profitable of the lot, despite having been banned from being a company director.

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French government forecasts bleak summer for counterfeiters

Questioned by MPs on the rise in fashion forgeries in France, the government has defended its efforts. In particular, it pointed to the success of initiatives carried out during the Paris Olympics, and announced that similar operations are about to take place.

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Front Row
Nicolas Sarkozy, Accor's contested viceroy

Nicolas Sarkozy has hung on to his Accor directorship, despite some shareholder criticism.© Studio Pachamama

As a director of Accor, which owns Raffles, Fairmont and Orient Express among others, the former French president has turned the hotel giant presided over by Sébastien Bazin into a personal power base, bringing his friends and business associates into the fold.

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