German womenswear brand Laurèl is “back on track” following its exit from insolvency in September, CEO Dirk Reichert has said.
Since terminating its insolvency proceedings on 30 September, Reichert said the brand is now focusing on pushing selected categories – including outerwear – enhancing product quality, and developing its home and global markets.
Laurèl currently has 25 stockists in the UK, including Flannels, Angela Beer in Stockport, and Suzanne in Surrey, and while the UK remains an area of growth, the brand is focusing on its home turf for now.
“Countries such as the UK, France, Spain and Canada are those we are looking into developing further, but for now we are focusing on our home market and Russia – which is our strongest market besides Germany,” said Reichert.
He said the brand is pushing its knitwear, heritage styles and summer dresses.
“We want to push those three product areas as much as possible to give the market a clear idea of what we’re driving for,” Reichert said. “Our collection is as strong as before and we’ve had four years of good development.”
Becoming insolvent did however result in delivery delays for the brand, which Reichert said are now “getting back to normal”.
“Even in solvency, it’s a tough market,” admits Reichert. “But we are performing well with our retail customers and we’re very thankful to companies that have stuck with us during difficult times. We’ve now changed our production structure to that of an international standard which includes buying directly from suppliers, giving us more flexibly and control of quality.
“The advantage of insolvency is the possibility to do stuff in a new way. Perhaps in the end it was a chance to change for the company, to become better and stronger.”