Fashion designer Pierre Cardin is looking to sell his company. Known for his avant-garde designs, Cardin doesn't put on fashion shows anymore, but his substantial empire includes restaurants, hotels, food products with his name, and numerous other licensing deals. The 86-year-old french fashion designer tells the new issue of Fantastic Man, "The asking price is 1 billion euros [about $1.3 billion], and if prospective buyers can't pony up the funds, then that's their problem, not mine. It's not like I'm strapped for cash." Cardin says he hammered out a deal last year, but it fell apart along with the economy. Also, Roberto Cavalli had wanted 1.4 billion euros for his company last July and never got it. So yeah. He and Pierre should do lunch.I want Pierre Cardin to stay into this business because he's a genius but "business is business". Cardin don't have a choice but to sell it. All of us are affected by the global crisis and one of them makes a move to reconstruct (I guess so). Cardin makes a big noise on the fashion field and having a nice collection, he is on the top list of fashion icons and truly a genius.
Source: NY Fashion
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