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Famous fashion designer Pierre Cardin is now ready to sell his empire. This is not the first time such an interesting news emerges, but according to the 88-years old legend himself, this time he is very serious about his decision. The first time he announced his willingness to sell the group he asked €500 million for it, but no one seemed to be interested in the offer.
Now Pierre Cardin will only let go of his treasure for a whopping €1 billion ($1.48 billion). According to bankers estimates, the group (theaters, Maxim’s Restaurants, the Pierre Cardin couture brand and more) is only worth around €200 million. However, this is not certain either, due to lack of financial information.
When Mr. Cardin launched his own label in 1950, he was told that his plans were never going to become reality. What kept him going was his strong determination and his belief in himself. Obviously all his efforts were fully rewarded. The only condition that he now asks before selling the group is that the buyers keep him as creative director. As he sais, “It would be in their interest for the brand’s image”.
