The ready-to-wear sector once again weakened. After Kookaï and the Kaporal brand, the sign Naf Naf was placed in receivership on Wednesday by the Bobigny commercial court (Seine-Saint-Denis). The brand is still in debt, in particular due to unpaid rents during the Covid crisis.
The French brand launched in 1973 by two brothers is now owned by the Franco-Turkish group SY. It employs 660 people in France, owns 135 stores and posted a turnover of 141 million euros in 2022, “growing”, said a spokesperson at the end of August.
“We will do everything to get Naf Naf back on its feet in the coming year. (Service providers) must not confuse us with Camaïeu and all those other companies that have failed to recover from the crisis in the retail said SY leader Selçuk Yilmaz.
Ready-to-wear weakened since the pandemic
The company had begun to restructure and cut 27 positions in June 2023 as part of a PSE, the spokesperson told AFP. It had already been placed in receivership in May 2020 and taken over by the Franco-Turkish group SY, which is still its shareholder, and which had already acquired the Sinéquanone brand in 2019.
The ready-to-wear sector in France been shaken for several months by a violent crisis. The brands Camaïeu, Kookaï, Burton of London but also Gap France, André or San Marina have suffered in particular since the pandemic. Added to this is the weight of inflation, a rise in the cost of energy and raw materials, but also growing competition from second-hand goods.