Privately-held French fashion house Leonard, known for its stylized orchid prints, is being sold to its long-time parter in Asia, Japan-based Sankyo Seiko, the company said Monday.
The move marks the end of family ownership for the luxury label, which was founded in 1958, and symbolizes the struggle of smaller, independent European houses to maintain relevance in a fast-shifting and highly competitive retail landscape dominated by large, global groups such as LVMH (LVMH.PA) and Kering (PRTP.PA).
