French fashion house Céline is quickly shedding its reputation as one of LVMH Moët Hennessy Louis Vuitton SA's most troubled brands.
After struggling for years to forge an identity and a following, the label is finding influential retailers including Barneys New York, Saks Fifth Avenue and Bergdorf Goodman are clamoring to carry its collection, even as they cut back their portfolios to focus on best sellers.
Credit for the resurgence of the brand--which LVMH bought in 1996 for €412 million ($562 million at current rates)--goes to British designer Phoebe Philo and a decision to make a sharp break with the past.
Céline recruited Ms. Philo 18 months ago. To start fresh, the company destroyed all of the inventory left in the stores prior to her first collection, a move that contributed to the €98 million in restructuring charges LVMH took last year.
Excerpt from LVMH Wipes Céline Slate Clean, Opening Way for 'Phoebe Effect' , Wall Street Journal
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