Hedi Slimane wins new round against Kering
Hedi Slimane has won a new round in the court battle against his former employer Kering. The luxury group has been ordered by the Paris trade court to pay €9.3 million ($11.5 million) to the designer. The sum is equivalent to the variable part of Slimane’s remuneration for the last year he worked as Creative Director at Saint Laurent.
Contacted by Fashionnetwork.com, Kering declined to comment on the news, which was first reported by Bloomberg. The group, owner of several other fashion labels besides Saint Laurent, among them Gucci and Balenciaga, has nevertheless expressed its intention to appeal against the ruling.
Under the aegis of Hedi Slimane, who was appointed Creative Director of Saint Laurent in March 2012, the luxury label's sales tripled in four years, growing nearly 30% each year, and leaping from €354 million at the end of 2011 to nearly €1 billion at the end of 2015. In a surprise move, Slimane was dismissed in April 2016 and was replaced by Belgian designer Antony Vaccarello.
After that, the divorce fight went to court, as Hedi Slimane attacked François-Henri Pinault's group on several contractual issues. In June 2016, the Paris trade court had already ordered Kering to pay $13 million to the designer, who invoked the application of a non-competition clause. In that instance too, Kering has appealed.
Slimane also demanded that Kering abide by a "partnership agreement" giving him certain rights, notably the right of access to information, as a minority shareholder in Saint Laurent. In November 2016, the court once again ruled in Slimane's favour, determining that he is to be allowed access to the financial data of GG France Holding.
Last January, Hedi Slimane went over to the competition and joined LVMH, where he was appointed Creative Director of Céline, replacing Phoebe Philo.
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