Nora Meyer takes over as managing director of Sinéquanone
Sinéquanone's turnaround continues. Two years after it passed into receivership and had its recovery plan approved by France's commercial court in the summer of 2017, the Paris-based womenswear brand's restructuring is ongoing – except now there's a new executive behind the wheel. Having been appointed to lead New Look France's restructuring process a matter of weeks ago, Paul-Henri Cécillon, who came to the rescue of Sinéquanone in 2016 through his corporate turnaround firm Phinancia, is stepping down from his operational responsibilities at the brand.
Nora Meyer arrived at Sinéquanone some months ago and is now taking over as managing director. Henceforth, she will be leading the brand, in consultation with Cécillon, who is staying on in the role of president. "It's the standard strategy in this type of situation. I'm a transition manager who steps back to let operational managers take over later in the process," he explained.
Having already gone into receivership in 2014 and been negatively impacted by an LBO led by IFE, as well as by falling sales, the womenswear brand received approval for its recovery plan in summer 2017. Following a renewed decline in revenues to around 22 million euros in the same year and a challenging 2018 due to the difficulties felt across the sector, Sinéquanone has been focusing its efforts on improving its distribution network, which includes both company-owned and franchised locations, as well as on its product offering and positioning.
The brand, which currently operates some 30 boutiques in France and as many abroad, as well as a number of concessions in department stores and multibrand retailers, should be presenting the new look conceived for it by Cécillon – and now Meyer – in a few months.
Before becoming managing director of Sinéquanone, Meyer worked for many years at Marithé François Girbaud, having notably served as sales manager. Prior to this she spent time at Saint Laurent, Valentino and Eleven Paris, where she also served as sales manager from 2013 to 2016.
Copyright © 2021 FashionNetwork.com All rights reserved.