Sonia Rykiel cuts jobs, closes Sonia by Sonia Rykiel line

After the demise of its iconic founder in August this year, French fashion house Sonia Rykiel has decided to cut short the number of staff, while pulling curtains on its Sonia by Sonia Rykiel line. The company said that the decision was taken on the back of considerable drop in tourist spending in Europe and lower demand from Russia.

The company would cut 79 job positions out of 330 and focus its energies on its original Sonia Rykiel line of collection by launching products at accessible price points.

In 2012, Fung Brands, an investment company backed by Hong Kong billionaires Victor and William Fung acquired 80 percent stake in the Sonia Rykiel business. The company now known as First Heritage Brands bought over the remaining stake earlier this year.

Rykiel founded her fashion house in the Saint-Germain des Prés quarter of Paris in 1968 introducing ‘Poor Boy Sweater’, around the time of violent student riots. Her knitwear designs and new fashion techniques led her to be dubbed the ‘Queen of Knits’.

Picture:Sonia Rykiel