London design duo Clements Ribeiro have reportedly set up a new business venture called Clements Ribeiro Trading, in a bid to diversify and wholesale its accessories. The core business of the designers went into voluntary liquidation last month, according to Draper’s Record. The husband and wife team Suzanne Clements and Inacio Ribeiro, known for their intarsia cashmere and feminine prints, fell into difficulty after their Italian manufacturer over-committed its capacity for autumn 05. It cancelled its licensing agreement with the pair, leaving them with no means to carry the company forward in the short term.
Clements stated in a recent interview with Emap-owned Drapers: “We were shunted to the back of the manufacturing queue, but we had already restructured the business and geared everything towards Italy .” The company, which has over 200 global stockists, will be delivering autumn 05 orders, but uncertainty reigns over next season’s collection and whether or not there would be a ready-to-wear show at London Fashion Week this September.
The company is negotiating with potential investors and looking ahead at future manufacturing. The company appointed London-based insolvency practitioners Daniel Rubin & Partners earlier this month, but registered Clements Ribeiro Trading at Company House just one week later. Clements Ribeiro’s contract to design for Cacharel is unaffected.
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