The decision has been made. The ready-to-wear brand Kookaï, in receivership, announced this Thursday that it would be taken over by the French clothing group Antonelle-Un jour elsewhere. “Faced with six other competitors, it was to Antonelle that the judge sold the Kookaï brand which had been looking for a buyer since September 15, 2023. The group presented the most favorable offer for the company since “it takes over 16 stores, 17 corners and also preserves 70 jobs”, specifies a press release.
Launched in France in 1983 and bought in 2017 by Australian Rob Cromb, the label has suffered like others from an explosive tail: pandemic, inflation, rise in production costs, rents, wages, competition from the second hand and fast fashion.
To this unfavorable situation, we must add a change in style specific to Kookaï, collections designed and tailored for Australians – skirts too short, necklines too plunging – which displeased French women, many employees told AFP.
Seven candidates in the running
In February, the brand was placed in receivership. In September, the Paris commercial court ruled that the company’s cash flow was insufficient to finance the proposed continuation plan and cleared the way for its takeover.
As of November 15, seven candidates had made offers, scrutinized with anxiety by the approximately 170 employees (union figure). Kookaï has around a hundred stores in France and is notably present in Spain, Switzerland, the United States and Australia. In 2022, the group had a turnover of 45 million euros.