According to Drapers online, very sadly, luxury label Nicole Farhi has announced it has gone into administration today. The retailer appointed Zolfo Cooper as administrator today, according to Drapers’ sister publication Retail Week.
The brand, Nicole Farhi, has changed hands twice in recent years, but it’s most recent owners, private equity group Kelso Place Asset Management don’t seem to have been able to save it's financial fortunes. It was founded in 1982 by Nicole and her then-partner, Stephen Marks who also founded French Connection.
The news comes only a year after Joanna Sykes was installed as creative director there, an appointment that founder Nicole described as Founder Nicole Farhi described Sykes as ‘the perfect appointment for the company,’ adding ‘Nicole Farhi has always been about timeless style and effortless elegance. Jo understands these qualities and brings a fantastic eye for detail, as well as a great understanding of cut, proportion and fabrication.’
Before that, Joanna Sykes headed up Brit brand Aquascutum, which also went into administration.
Nicole Farhi has four standalone stores in London and a presence in department stores Harvey Nichols, House of Fraser and Selfridges across the UK. It is possible that the brand will be sold now, possibly to Nicole Farhi herself, although this isn’t yet clear.