Like several brands in the sector, Kookaï is in crisis. The ready-to-wear chain, in receivership, announced on Wednesday the closure of 20 stores by the end of the month, and promised “reclassification proposals” to the 54 employees concerned.
“It was decided on Friday evening during a CSE meeting to close 20 stores, everywhere in France, at the end of the month, to clean up the accounts”, indicated the management, which decided on the closures according to “the profitability and store performance. About 100 stores remain open.
Difficulties accentuated by Covid-19
In total, 54 employees are concerned “and all will receive reclassification proposals”, indicated the management, which also welcomed the “digital boom” since the announcement of the receivership, with an increase of 200% online turnover.
Kookaï justified in February its placement in receivership by the “economic difficulties encountered by the ready-to-wear sector in Europe, which the Covid-19 crisis has only accentuated”.
A turnover of 45 million euros in 2022
Created in France in 1983, the brand then expanded to Australia in the 2000s and was bought in 2017 by Australian businessman Rob Cromb from the Vivarte group (which then included Caroll, Minelli, La Halle, Naf Naf, Chevignon, etc., liquidated in 2021. In 2022, Kookaï posted a turnover of 45 million euros, up 18% compared to 2021, but down 25% compared to 2019.
The ready-to-wear sector in France has been shaken for several months by a violent crisis, which resulted in particular in the liquidation of Camaïeu in September 2022 and the placements in receivership of Go Sport (largely taken over by Intersport ) and Gap France (partially taken over by JD Sports) at the start of 2023. On February 20, the shoemaker San Marina was placed in compulsory liquidation, dragging 650 employees down with it.