Hedi Slimane Awarded $11.5 Million In Case Against Saint Laurent; Kering Will Appeal
PARIS — Creative director Hedi Slimane is $11.5 million richer, thanks for a recent victory in French court.
Here’s the back story: In April 2016, Hedi Slimane and the Kering-owned Saint Laurent officially parted (see it here). The news shocked the fashion realm, given the commercial success of Slimane‘s designs. In June 2016, Slimane entered into legal proceedings with Kering because he wanted the company to reinstate the non-compete clause that it lifted at the time of his departure (see it here). That same month (June 2016), Kering was ordered to pay Slimane $13 million in a provisional court ruling in connection with the way his departure from the luxury French house was handled, according to a statement from Slimane‘s lawyer (see it here).
Just recently, Slimane is finishing up business at his previous employer Saint Laurent / Kering. After nearly two years in and out of court, in its March 27 ruling, the court said Kering owes Slimane 9.3 million euros ($11.5 million), related to the last year of an elaborate compensation scheme drawn up to allow the designer to benefit from an increase in value of the shares of Yves Saint Laurent. The amount is meant to ensure that Slimane’s pay from April 2015 to March 2016 would reach 10 million euros, the court said in its decision.
One of the industry’s most influential designers, Slimane had worked at Christian Dior from 2000 to 2007, and Yves Saint Laurent from 2012 to March 2016, where he changed the name to “Saint Laurent.”
Kering said it would appeal the ruling and declined to comment further.
Kering, a Paris-based luxury conglomerate also owns Alexander McQueen, Gucci, Stella McCartney, Balenciaga, Bottega Veneta, Brioni, Puma, among other brands.
Slimane recently landed a new job, as Artistic, Creative and Image Director of LVMH Moët Hennessy Louis Vuitton’s Céline. He will direct all Céline collections, extending to men’s fashion, couture and fragrances (see it here). Slimane is due to show his first Céline collection in September 2018.
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