Richard Vives, the French entrepreneur who took over the Logo Group in 2011 with another investor, has taken over the position of chief executive from Pascal Brouard, whom he had appointed to the position after the takeover. Vives, who is also involved in automotive distribution, remains chairman of the French eyewear group.
A press release issued by the company says the main goal of the management change is repositioning “on its historical and core values,” based on creativity, innovation and the quality of products and services. No additional details could be obtained on Logo's future strategy or on the reasons for Brouard's departure.
Indicating that he is contemplating an offer from another eyewear company, Brouard said that he wanted to become a shareholder of Logo, but company officials indicated that this was not the issue behind the divorce. Company officials declined to discuss the recent or expected financial performance of Logo, but it seems that it is enjoying a new momentum.
Its total orders have gone up by 25 percent so far this year, despite the termination of two licensees for Pimkie and Harry Potter eyewear, which were confined for the most part to the French and American markets, respectively. In contrast, the recent launch of two other licenses, IKKS and Ice Watch, has been successful. One or two other licenses have been under discussion recently.