Elisabeth (1929). Belgian designer. In the U.S. she created a very functional prêt-à-porter, easy-to-wear and affordable by the general public. After working for Tina Leser, Omar Kiam, Jonathan Logan, and Youth Guild, she established her own company in 1976. The investment, at the time, was $5,000. Today, the yearly turnover is over $2 billion. A big part of her commercial success is due to continuous adjustment to the styles and trends of the moment. More than an innovator, the designer has been able to be a promoter of the fit-for-every-occasion dress, contributing to the freedom of American fashion from designs that are too right.
The American company will open three boutiques under the Mexx logo (a Dutch clothing brand acquired in 2001) in the U.S. The first will be in New York in Autumn. Six more are expected for the brand Sigrid Olsen. On the other hand, 22 Liz Claiborne stores are to shut down or be moved elsewhere. In 2002, the group had a 7.8% increase in turnover, reaching $3.7 billion (with a net profit of $231.1 million, compared to $192 million in 2001). The results include expenditures of $4.5 million due to store closings. In the fourth quarter, sales increased 12.1% to around $993.9 million.