French Fashion House Paul Poiret Is For Sale

French fashion label Paul Poiret is officially for sale. The historic couture house whose rights are held with Luxembourg-based company Luvanis was announced on the auction block on tuesday.

Poiret is one of the most iconic names in 20th-century along with Chanel and Schiaparelli. The designer who dressed megastars like Sarah Bernhardt and Josephine Baker became dormant in 1929 when his designs had become outdated and his clients were taken over by the likes of Coco Chanel. Tragically he died a poor man in 1944.

Speaking of the dormant French label and its founder Arnaud de Lummen, the company's managing director said "Paul Poiret never ceased to be timely and, with the increasing convergence between fashion and art, it is a great moment for Poiret to return to business. Poiret is celebrated everywhere as the first true superstar fashion designer. The fashion world is getting more and more addicted to its own past," he continued.

The online auction will run until 28 November. Those who have the funding to bid for the label can express their interest by a nondisclosure agreement available on the Paul Poiret website. Interested parties are asked to provide details of their organization or in the case of a private buyer, a brief background on their business interests, notably in luxury.

The move is part of a trend in recent times of reviving heritage fashion labels. The world of fashion these days seems to be short of inspiration and previously dormant labels is the new go to fix. Elsa Schiaparelli, was recently revived under Christian Lacroix, and earlier this year Harvey Weinstein announced that he was financing the revival of the Charles James label. While Fashionista's and Investors start salivating on the news of Poiret whether the revival of the fashion house will be anything successful we'll find out soon.