Ted Lapidus
Strategic Concepts & Mechanics
Primary Evidence
"If Bernard Arnault has any questions, he doesn't show it. In February 1985, he sold a factory of 140 people in Fécamp that produces women's ready-to-wear under the designer Ted Lapidus's license to the trio Benattar-Saban-Delanoë. The buyers create, for the occasion, a new company, the Union Textile de Normandie (UTN). They still pay on credit and receive 2.8 million francs in aid from Boussac; that is 20,000 francs per employee."
"Far from the paneling of Avenue Montaigne, in Wambrechies, the next day, a meeting of the central company committee takes place. The agenda is spicy: proposal for job cuts and divestments of activities. The meeting is particularly stormy. The unions and the staff representatives cry out against the dismantling of the group. The divestments concern the tailoring unit of Le Pigeon Voyageur in Béthune, the tarpaulin and ropemaking activities of Saint Frères in Flixecourt, the Ted Lapidus tailoring factory in Fécamp, and the Raclet tents in Mamers. These divestments were already planned in the SADEF report and in René Mayer's three-year plan."