Kookaï soon to be bought by its Australian partner?
today Apr 14, 2017
French fashion group Vivarte is reportedly going to sell fashion retailer Kookaï to Australian group Magi next June, according to an internal document obtained by Capital. Contacted by FashionNetwork, Vivarte's senior management has declined to comment.
Magi is already closely linked to Kookaï, since it produces part of the fashion retailer's range in its factories in Sri Lanka and Fiji, and also sells them via 38 Australian stores. Through the acquisition, Magi is seeking to go more upmarket, and also to start establishing itself in North America.
Magi has reportedly pledged not to exceed the number of store closures already planned by Kookaï until end 2018. A question mark would still hang over the retailer's logistics hub, shared with Chevignon et Naf Naf. The sale would in fact raise the issue of whether all jobs there can be maintained until the end of 2019.
News that a buyer was being sought for Kookaï (428 employees), Pataugas and Chevignon became official in summer 2016. Then, in January, Vivarte's management announced the decision to put Naf Naf and André on the market too.
After the sale last December of the Compagnie Vosgienne de la Chaussure footwear company, and once the sale of André, Naf Naf, Pataugas, Chevignon, Kookaï and Merkal (Fosco) will have gone through, the Vivarte group will own the retail chains La Halle (apparel and footwear), Caroll, Minelli, San Marina, Besson and CosmoParis, as reported on FashionNetwork Premium.
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