The storied brand, created in 1945, was once a pillar of postwar chic as Carmen de Tommaso, who later went by Marie-Louise Carven, injected a fresh and joyous style into young women's wardrobes.

It fell out of favour for several decades before enjoying a revival in the late 2000s, but it hasn't filed audited financial results for the past two years.

The company's last published results, from 2015, showed a net profit of just 67,000 euros on sales of 49 million euros ($56 million).

It was also the year when Marie-Louise Carven died aged 105.

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Ruffieux, seen as a rising fashion star, was brought in from Dior in February 2017, having previously worked as the assistant to fashion stalwart Sonia Rykiel.

In a statement Carven "thanked him for all his creative contributions to the brand," but did not give a cause for his departure.

Last month a Paris court approved the company's takeover by China's Icicle for 6.5 million euros, along with a pledge to invest a further eight million.

It also promised to keep on 72 employees, the bulk of the label's staff, with the notable exception of the creative director.