The Kookaï brand was created in France in 1983 (AFP/Archives/Philippe HUGUEN)
Less than five months after the sudden judicial liquidation of Camaïeu and while the Go Sport Group is in turmoil, Kookaï announced on Wednesday its placement in receivership due “to the economic difficulties encountered by the ready-to-wear sector in Europe, that the Covid-19 crisis has only accentuated”.
The receivership before the Paris Commercial Court “is not an end in itself” but “an opportunity to bounce back and improve (our) financial situation”, according to a press release from the brand that invented the “Kookaïettes” , “those impertinent and cruel young women with men”, presented in noticeable advertising campaigns.
For the moment, nothing changes for the 121 French stores and its 320 employees, during this procedure intended to allow the continuation of the company’s activity, the maintenance of employment and the settlement of liabilities, thanks to the appointment of a legal representative to administer all or part of the company.
Kookaï “seriously lacked means and support from banks” during the pandemic, regretted the ready-to-wear brand, citing in particular two refusals of State-guaranteed loans (PGE).
Created in France in 1983, the brand “made the media buzz (…) and seduced a clientele of consumers aged 15-16”, who remained loyal to it thereafter, explained to AFP the marketing department. by Kookai.
It then developed in Australia in the 2000s and was bought in 2017 by the Australian businessman Rob Cromb from the Vivarte group (which then included Caroll, Minelli, La Halle, Naf Naf, Chevignon…) , liquidated in 2021.
In Australia, positioned rather “on the high end”, Kookaï “hits” with 800,000 followers on Instagram, said the marketing department again.
The objective was to instill this renewal in France but “we lacked the means”, not to mention that Rob Cromb bought a company from Vivarte which suffered “from an enormous social debt”, she continued.
In 2022, Kookaï posted a turnover of 45 million euros, up 18% compared to 2021, but down 25% compared to 2019.
– Difficult pandemic exit –
Camaieu employees are gathered in front of the company’s headquarters on September 12, 2022 in Roubaix (AFP/Archives/Denis Charlet)
For the clothing sector, the end of the pandemic does not mean a return to the pre-Covid-19 situation: sales in 2022 remain nearly 10% lower than their 2019 level, explained in September to the AFP Gildas Minvielle, director of the economic observatory of the French Fashion Institute (IFM).
“These successive pieces of news are always shocks because there are a lot of jobs concerned,” the director of the IFM’s economic observatory reacted to AFP on Wednesday, recalling the “difficulties of the mid-range, which has a lot of actors and for whom it is difficult to stand out”.
In addition, the sector remains very affected in France by the sudden judicial liquidation of Camaïeu at the end of September, which led to the dismissal of 2,100 employees.
He finds it more and more difficult to acknowledge the blows. Other major brands are indeed affected by the shocks, such as the Go Sport Group, the holding company of the brand specializing in sport, declared in mid-January in receivership by the Grenoble commercial court.
On Friday, the elected staff of the ready-to-wear brand Gap France exercised their right to alert in order to obtain information on the situation of their company, bought in 2021 for one euro by the HPB group (Hermione , People & Brands), which announced the resale to Go Sport.
© 2023 AFP
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