The economic fabric of ready-to-wear is fraying. At a time when the sales are starting timidly in a gloomy context, two brands have just joined the list of brands recently victims of collective proceedings and protection from French justice, such as Gap, André, Kaporal and Camaïeu. In line with its competitors, Du Pareil au Même was placed in receivership on Wednesday by the Bobigny commercial court, and Sergeant Major, which belongs to the same group, was placed in safeguard proceedings.
Natalys, another brand owned by the Holding Générale pour l’Enfant (GPE), is for the moment “spared” because, “much smaller” than its sisters with its 10 million euros in turnover and not knowing “such serious issues”, according to a source familiar with the matter. The group, which employs 2,500 people, said it had been “impacted” by “social crises, the Covid-19 pandemic, the energy crisis and inflation”.
GPE suffered a decline of 100 million euros in turnover over the Covid period “due to the closure of stores during the pandemic”, said the same source, according to which turnover reached 275 million euros in 2022. “The restructuring plan provides for the closure or sale of 47 Sergent Major stores and 87 at Du Pareil Au Même”, all in France, according to her.
GPE has 850 stores in France, Belgium, Spain, Portugal, Italy, Germany, Luxembourg, Slovakia and Switzerland. The group has unveiled its restructuring plan, including in particular the development of its digital strategy with the objective of achieving 25% of its online sales “by 2027”, with an investment of 5 million euros. It also envisages an “international extension to new markets (Middle East) and the development of the network of affiliates in France and in Europe (Greece)”.