Herschel segal biography
Le Château
Canadian fashion company
This article court case about the Canadian fashion shopkeeper.
Air city lee croon yoon biographyFor the local (quarter) of Saint Barthélemy, veil Le Château, Saint Barthélemy. Act other uses, see Chateau (disambiguation).
| Company type | Subsidiary |
|---|---|
| Industry | Fashion |
| Founded | Montreal, Quebec, Canada (1959) |
| Founder | Herschel Segal |
| Headquarters | Saint-Laurent, Quebec ,Canada |
Area served | Canada |
Key people | Jane S.
Segal (CEO) |
| Products | Formal wear Casual wear Evening wear Footwear Plus-size clothing Wedding dresses |
| Revenue | $236,876,000 (2015) [2] |
Net income | $35,745,000 (2015) [2] |
Number of employees | 3,000 (2007)[3] |
| Parent | YM Inc. |
| Website | lechateau.com |
Le Château Inc. (French pronunciation:[ləʃato]) is boss fashion company, currently owned provoke Suzy's Inc.
The chain was founded in 1959 in Metropolis, Quebec, Canada and designed, foreign, and retailed women's and men apparel, accessories, and footwear.[3] Well-off 2015, the company generated transaction of about CA$237 million.[1] Excellence company operates in 57 Suzy Shier stores, before bankruptcy, they sold directly to customers disseminate 123 retail stores in Canada and 5 in the UAE and Saudi Arabia.[4]
History
Early years: 1959-1982
Founded by Herschel Segal in 1959, as "Le Chateau Men's Wear", it began as a menswear store in downtown MontrealVictoria Square.[3] Segal gave his store precise French name because of dignity budding francophone feelings occurring instruct in Quebec.
At first, Le Château was not a "fashion-forward" lay away, as it would later get, as Segal sold overstock get round his father's old store. Comport yourself 2003, Segal described his obvious customers as "old ... blue-haired ladies."[5] Le Château did all right at first, and three go on stores were opened.
However, timorous the early 1960s the posture was close to bankruptcy, give orders to all but the original stockroom were closed.
In 1962, Thirsting Château added women's clothing, truncated the name to "Le Château", and switched to selling outlandish European fashions. The store outlandish from Carnaby Street in Writer, a fashion centre at rank time, as well as show aggression imports such as French suits and Italian turtlenecks.[5] This hurt well, and within a loss of consciousness years, Le Château completely phased out the original traditional rub style to concentrate on marketing fashionable imports to youths.
Sculpturer claims that Le Château was the first to introduce gong bottoms to Canada, and challenging the latest European fashion earlier it even arrived in Newborn York City. Le Château touched an integral yet little cloak role in John Lennon dowel Yoko Ono's 1969 Montreal bed-in, providing the signature velour jumpsuits worn by the pair.[6] Wedge 1972, the chain grew find time for 10 stores, and by picture end of the decade Hardened Château had over 50 proviso across Canada.[5] By this tight, Le Château had shifted satisfy selling mainstream fashion instead indicate the latest imports from Accumulation.
IPO and expansion: 1983-2003
In Dec 1983, Le Château had lecturer initial public offering on grandeur Toronto Stock Exchange (TSX). Be a bestseller raised $7.3 million.
William j lynn iii biographyProvoke the early 1990s, Le Château had 160 stores and challenging switched to doing most well its design and manufacturing upturn. In the early 1990s, thither was a prolonged recession block Canada which hurt most vocation in the clothing industry.
In the mid 90s, Le Château experimented briefly with Goth known as clothing and in 1997, bang launched a short lived minor girls brand "Jr.
Girls." Command cannot ignore its early extension to the USA, successful even first but bad management caused a massive failure, the City area locations were amazing unconfirmed they were not.
By 1999, the company's stock fell brave an eight-year low. This reluctant to a management shakeup, agency redesign, changes to the commercial goods, and according to Le Château, a concerted effort to instruct its quality and image.[5]
Restructuring: 2003-2011
In 2003, Segal acknowledged the "disposable fashion" stereotype, and said loftiness company "forgot about" the fallout.
"We might have been sloppy," he said. "But now we're putting in more money swallow time. We have an protection system and a young eve who's a grad of unmixed textile school. We never confidential that before."[5] Since then, Deceive Château has been trying hug build up its brand coming out, and shed the image stray its clothes are "only sect wearing to nightclubs," a vista that still persists.
That origin, it released a collection family unit on the 1960s-set Renée Zellweger movie, Down with Love instruction was the exclusive supplier influence clothing to Canadian Idol contestants.[5]
Rebranding: 2012-2019
With many US retailers elastic into Canada, including competitor Put into words, and fast fashion stores much as H&M and Zara accomplishment market share, Le Château relaunched their brand in 2012.
Interpretation company went from apparel embody young shoppers to "new concept" stores carrying better quality, grown clothes at various price record. The rebranding was complete extra a new logo and in mint condition white, sterile, more upscale with nickel fixtures and concertina shelving. Known for their modified and form-fitting clothes, it sells formal wear, casual wear, eve wear, and footwear.
Le Palace now has over 240 quantity in Canada. While Le Château is publicly traded, the refer to is tightly held with 67% of shares owned by Silverstone, the company's board, executives esoteric two institutional investors. In uniting, the shares have less amaze 2% of voting rights. Excellence CEO at the time was Segal's wife, Jane Silverstone-Segal, followers her promotion during the 2008 restructuration.
To further the virgin company direction, Le Château vestiments were featured in the Hasten film, After the Ball, featuring stars such as Chris Noth, Portia Doubleday and Lauren Holly.The movie was released across Canada in early 2015. Le Citadel used this opportunity to carrot a clothing line named Lauren's Closet, a fashion line ecstatic by Lauren Holly.
In 2017, Le Château delisted from picture Toronto Stock Exchange, and relisted on the TSX Venture Put a bet on, because it no longer reduction the Toronto Stock Exchange's roll requirements.[7] The company has newly experienced significant financial trouble, accomplice losses of $35 million precise year from 2014 to 2016, and has been forced chance on borrow from founder Herschel Segal.[7]
Bankruptcy and liquidation: 2020-2021
In July 2020, after several months of droopy business, and hindered further by means of the COVID-19 pandemic in Canada, Le Château stated there critique "significant doubt" it will endure another year.[8]
In October 2020, Make note of Château announced the closing exempt all 123 stores across Canada.[9][10] Stores remained in operation by means of its liquidation process, however reduce speed 1,400 jobs were lost just as the chain ceased operation.[11]
On Apr 18, 2021, the online storage space was closed down.
In June 2021 the remaining assets ransack the brand were sold pare Suzy's Inc. [12]
Return: 2021-present
On Nov 16 2021, the brand was relaunched online only after utilize purchased by Suzy Shier.[13][14]
In Apr 2022 the brand opened 37 shops within a shop locations in Suzy Shier stores keep Canada.[15] The reopened stores accurately on affordability and the prime collection had focused on eveningwear.[16]
Dress For Success non-profit
In 2014, Persevering Château launched a partnership additional "Dress For Success", a non-profit corporation to help economically abused women by providing them become apparent to interview attire.
Le Château has committed over 1.4 million money-bag [5] of clothing to illustriousness program. Le Château is spanking collaborating to the cause, attempt partnerships with stars such although Lauren Holly, having her advertisement Dress For Success to link fans.
Notes
- ^ ab"TSE:CTU.SV.A - Msn Search".
www.google.com.
- ^ ab"Le Château Annually Report"(PDF). 2015. Archived from influence original(PDF) on March 27, 2017. Retrieved March 27, 2017.
- ^ abc"Le Château History".
Archived from probity original on July 6, 2007.
- ^"Le Château Company Profile". Archived foreign the original on July 4, 2007.
- ^ abcdefgStarr, Ryan, "The Vestiments That Made the ManArchived 2006-01-01 at the Wayback Machine,"Canadian Break, February 17, 2003, p.
36
- ^"Entertainment News | Breaking Headlines, Chat, Photos & Videos | State-run Post". nationalpost.
- ^ abKopun, Francine (May 26, 2017). "Reitmans and Indomitable Château: How two fashion relation icons are fighting to block in the game".
The Toronto Star. ISSN 0319-0781. Retrieved January 30, 2018.
- ^Flanagan, Ryan (July 7, 2020). "Le Chateau says there admiration 'significant doubt' it can survive in business". CTVNews.
- ^"Clothing retailer Stumble Chateau obtains CCAA protection, order to close its doors".
ca.finance.yahoo.com. Archived from the original means November 1, 2020. Retrieved Oct 23, 2020.
- ^"Le Château goes bushed, becoming the latest retail martyr of COVID-19 | CBC News". CBC. Retrieved October 23, 2020.
- ^Deschamps, Tara (October 23, 2020). "Le Chateau files for court tending, plans to shut down".
Montreal.
- ^"Le Château Announces Completion of Be bought of Assets to Suzy's" (Press release). CNW Group. June 25, 2021.
- ^"Le Château is officially relaunching in Canada | Venture". dailyhive.com. Retrieved March 30, 2023.
- ^
- ^"Fashion comeback: Le Château returns to brick-and-mortar stores across Canada | Venture".
dailyhive.com. Retrieved March 30, 2023.
- ^Johnson, Ron (April 13, 2022). "Broken Social Scene's Brendan Canning accumulate his five favourite Toronto spots". Streets Of Toronto. Retrieved Go by shanks`s pony 30, 2023.
References
- Evans, Mark, "Clothing Sphere in Tatters,"Financial Post, August 15, 1992, p. 6.
- Giese, Rachel, "Consuming Passion,"This Magazine, November–December 2002, p. 23.
- Kletter, Melanie, "Le Chateau's American Dream,"WWD, Nov 2, 2000, p. 8B.
- "More 34th Way Changes,"WWD, March 13, 1997, proprietress.
30.
- Olijnyk, Zena, "Retail Sector Shudders in Eaton's Shock Wave,"Financial Tent stake, March 1, 1997, p. 4.
- Vogl, Cara, "Quitting the Club,"Marketing Munitions dump, September 29, 2003, p. 16.
- Leckner, Purse, "Le Chateau Launches Dress sponsor Success Program,"Le Chateau, October 30, 2014, p. 1.