The owner of Emanuel Ungaro, Asim Abdullah, has denied reports he is attempting to sell the beleaguered French fashion house.
Abdullah told WWD: “It’s absolutely not true. The company is not for sale.”
Abdullah bought the loss-making Ungaro in 2005 from fashion group Gruppo Ferragamo.
“We are not entertaining any conversations with anyone about the sale of the company,” he said.
Ungaro has had a tumultuous history most recently with the ill-fated and short-lived hiring of actress Lindsay Lohan as artistic adviser.
In December, company president Mounir Moufarrige, who hired Lohan, resigned.
Abdullah said this week that Ungaro would “rationalize costs” amid the economic slowdown and a drop in its wholesale and retail businesses. He wants to make the company “sustainable” by 2011.