Kookaï in difficulty: the ready-to-wear brand placed in receivership
After Monochrome, it’s another fashion brand that finds itself in trouble. Kookaï has just announced this Wednesday its placement in receivership. The fashion brand was sold in 2017 by the Vivarte group to an Australian businessman, Rob Cromb, who had taken the opportunity to develop the brand on the other side of the globe.
Its placement in receivership due “to the economic difficulties encountered by the ready-to-wear sector in Europe, which the Covid-19 crisis only accentuated,” according to a press release from the fashion brand.
The 320 employees maintained in activity
Created in 1983, the Kookaï brand sees in this placement in receivership “an opportunity to bounce back and improve its financial situation”. This legal procedure “is not an end in itself”, reassures the company, which declares that the 121 French shops will remain open and the 320 employees in activity.
According to the published press release, the brand “severely lacked the means and support of the banks (refusal of PGE) to renovate the shops, make Kookaï known to young women and take the digital turn”, she says. “The brand wants this observation period to be an opportunity for it to implement a new strategy to return to profitability and prepare Kookaï for future episodes in its history,” she said in her press release.