Covid-19 puts the brakes on Marc Jacobs turnaround
Covid-19 has seriously put the brakes on Marc Jacobs. Owned by French luxury group LVMH, the brand led by its eponymous American designer saw a drastic slowdown in 2017 and has been working to turn its business around ever since. But in the wake of the coronavirus crisis, the company has suffered significant setbacks and has reportedly had to cut 60 employees over the last few weeks.
Employees in the brand's design department have apparently been particularly badly affected, with one notable cut being French designer Olympia Le-Tan, who recently moved to New York to take the helm of the accessible The Marc Jacobs line, launched in 2019.
The brand has denied these allegations, stating that all of its divisions have been maintained in working order and are continuing to develop projects. According to a spokesperson cited by WWD, the cuts represent only 10% of the band's global workforce, including retail staff.
"Given the substantial impact of Covid-19 on the retail industry, we have made targeted changes that allow Marc Jacobs International to adapt to the evolving environment and continue forward on our path to refocus the business and highlight the creative innovation that has always defined our brand. This included making the difficult decision to eliminate certain roles and, for a small number of employees, reducing responsibilities," said the company in a statement.
The house did not respond to enquiries made by FashionNetwork.com.
Another notable loss, this time at Marc Jacobs' Paris-based European office, is Olivia Fournier, head of marketing and communication for the EMEA region.
Following a critical period during which the brand was forced to discontinue its youth line, Marc by Marc Jacobs, and then its menswear line in 2017, the house recently relaunched a men's collection.
With a cool, laid-back style, this latest offering was conceived with a similar aesthetic to that of the new The Marc Jacobs line, which the brand was hoping would play a major role in rekindling its sales. The company even gave the line a dedicated store, which opened in Paris' Le Marais neighborhood last fall.
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