Diane von Fürstenberg has decided to look for an investor willing to acquire a stake in her US label and support it through a new expansion phase.
“I’m not about to sell my business, but the time has come to give the company the senior management it deserves,” the 70-year-old designer has told Women’s Wear Daily (WWD). “I’ve decided we will probably sell a stake in the company.”
A spokesperson for the label says talks are at an initial phase, and no target date has been set.
In the past few years the label has reduced the number of items in its ready-to-wear collections by 40 per cent, and has also streamlined its retail and wholesale networks.
“Retail sales are going through a difficult phase for all brands right now,” says the company, founded in 1972. “In terms of physical stores, we have not renewed a number of leases and, effectively, we have deliberately rationalised our distribution.
“Meanwhile, our e-tail business is performing extremely well.”
In May last year, Jonathan Saunders joined Diane von Furstenberg (DVF) as its chief creative officer, overseeing all design and creative. The founder is still chairman.
Headquartered in New York City, DVF has a global distribution network in more than 55 countries, including Asia Pacific, with 1500 points of sale including 148 DVF owned and partnered stores.