Jacadi to exit UK, franchisee launches lawsuit
Jacadi is part of ÏD Kids, which also owns Okaïdi, Obaïbi and Oxybul, and FCW has been its UK partner since 2012 when the two signed a deal for the British company to open boutiques in London.
Agence France Presse said the contract was extended for a further 10 years in 2015 with plans to move beyond the London area. However, the five stores it currently operates are all in the capital or its suburbs, including the King’s Road in Chelsea, Battersea, Hampstead, Westfield London, and Richmond.
The brand, which has 273 stores in total globally, will shut the five British sites on August 31 with 57 jobs being affected.
FCW said that it has invested £10 million in the project and the stores were starting to turn a profit.
But ÏD Kids still has big ambitions for the UK market and earlier this year signed a deal with Danish entrepreneur Philip Bier - who founded the Tiger chain in Britain in 2005 - to open ÏD Kids clothing and toy stores in the country.
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