Pierre Cardin SA is a French luxury brand founded by namesake designer Pierre Cardin in 1950. Initially a prestigious fashion house, the brand extended successfully into perfumes and cosmetics in the 60s. From 1988 onwards the brand was licensed extensively, and appeared on "wildly nonadjacent products such as baseball caps and cigarettes".[3][2]
 | |
| Product type | Fashion, perfume, jewellery, watches, pens[1] |
|---|---|
| Owner | Cardin Family (99.9%; disputed) Rodrigo Basilicati-Cardin (0.1%) [2] |
| Country | France |
| Introduced | 1950 |
| Markets | Worldwide |
| Website | pierrecardin.com |
History
edit
The brand manages more than 8,000 stores in 170 countries. The number of employees who work on the creation of Pierre Cardin products is more than 20,000 people.[citation needed]
All products of the Pierre Cardin brand are produced at the Ahlers Group factory in Herford, Germany. [4]
A 2005 article in the Harvard Business Review commented that the extension into perfumes and cosmetics was successful as the premium nature of the Pierre Cardin brand transferred well into these new, adjacent categories, but that the owners of the brand mistakenly attributed this to the brand's strength rather than to its fit with the new product categories.[3] The extensive licensing eroded the brand's credibility, but brought in much revenue; in 1986 Women's Wear Daily (WWD) estimated Cardin's annual income at over US$10 million.[citation needed]
In 1995, quotes from WWD included "Pierre Cardin—he has sold his name for toilet paper. At what point do you lose your identity?" and "Cardin's cachet crashed when his name appeared on everything from key chains to pencil holders". However, the Cardin name was still very profitable, although the indiscriminate licensing approach was considered a failure.[3][5]
In 2011, Cardin tried to sell the business, valuing it at €1 billion, although the Wall Street Journal considered it to be worth about a fifth of that amount. Ultimately he did not sell the brand.[5]
References
edit- ^ "World". pierrecardin.com. Retrieved 25 September 2020.
- ^ a b Thomas, Dana (2023-09-25). "A Tale of Family Intrigue and Inheritance". The New York Times. Retrieved 2024-04-07.
- ^ a b c Reddy, Mergen; Terblanche, Nic (2005). "How Not to Extend Your Luxury Brand". Harvard Business Review. 83: 20.
- ^ Times, The Brussels. "Fashion house Pierre Cardin accused of breaching EU competition rules". www.brusselstimes.com.
- ^ a b Dike, Jason (23 November 2015). "Digging Deeper – Pierre Cardin's Demise to "Licensing King"". Highsnobiety.com. Retrieved 6 May 2017.