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Translated by
Cassidy STEPHENS
Published
Feb 1, 2023
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Kookaï placed in receivership

Translated by
Cassidy STEPHENS
Published
Feb 1, 2023

The women's fashion chain Kookaï, sold in 2017 by the Vivarte group to the Australian businessman Rob Cromb, was placed in receivership by the Paris commercial court on February 1.


Kookaï


This procedure has been triggered by "the economic difficulties faced by the ready-to-wear sector in Europe", accentuated by the Covid-19 crisis. The company claims to have "cruelly lacked the means and support of the banks to renovate shops, make Kookaï known to young women and take the digital turn", the company states in a press release.

"An opportunity to bounce back and put its financial situation in order"

The receivership is seen as "an opportunity to bounce back and clean up its financial situation" for the management, which hopes that this observation period "will be an opportunity for it to implement a new strategy to return to profitability and prepare Kookaï for a new chapter," it says. A search for buyers is therefore not on the agenda.

The company currently operates a network of 121 sales outlets as well as an e-shop, and employs 320 people. According to data from société.com, the Kookaï legal entity generated a turnover of 30 million euros in 2021. A far cry from the 94.3 million euros achieved ten years ago, in 2013/14.


Kookaï shop - DR


Founded in 1983 by Jean-Lou Tepper, Jacques Nataf and Philippe de Hesdin, and acquired by Vivarte in 1996, Kookaï passed into the hands of its franchisee in Oceania, the Magi group, led by Rob Cromb.

Born in the bustling Sentier district of Paris, the brand made a name for itself 40 years ago by creating the "kookaïette" look, bringing something more daring to the mid-range sector, thanks to its easy-to-wear, colorful knits and its impactful advertising campaigns.

In recent weeks, receiverships have followed one another in the clothing sector. The fall of 2022 was marked by the liquidation of Camaïeu, then the placement in receivership of the San Marina shoe chain (also formerly part of Vivarte). Then it was the turn of the women's fashion brands Cop.Copine, Roseanna, Symbiose and Modetrotter to follow the same procedure. And the latest? The sporting goods brand Go Sport.

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