Kookaï, Cop.Copine, André, San Marina... The confusing bankruptcy of the fashion brands of the 90s

For a whole generation, they were key stopover points for Saturday afternoon shopping.

Today, Kookaï, Cop.Copine or even Pimkie, among other emblematic French brands of the 1990s-2000s, are sinking into an endless descent into hell.

Since the beginning of February, and in the wake of the liquidation of Camaïeu at the end of 2022, legal decisions have been piling up in the textile landscape of France.

Targeted, these mid-range and accessible fashion brands which once had nine-figure turnovers are in turmoil.

A bad pass to the tunes of end clap for a whole section of the French fashion industry born at the end of the 20th century.

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Black February

On February 1, the Paris Commercial Court proceeded to the recovery of Kookaï (Vivarte group), a Sentier brand created in 1983, as well as the Isère brand Go Sport.

In the aftermath, Cop.Copine dives.

In receivership since November 7, 2022, the brand founded by the Nédélian family is extinguished after thirty-seven years of activity, for lack of a takeover offer.

The Marseille shoemaker San Marina (also Vivarte group) could suffer the same fate after its receivership announced in September 2022 and the announcement, on February 6, of the failure of its takeover project.

As for the Lille brand Pimkie, in the imminent takeover phase, it could announce in the spring a social plan which would lead to the elimination of five hundred jobs, reports the Fashion Network media.

In October, the Camaïeu brand closed the doors of its five hundred and eleven stores in France.

Long described as the French flagship of clothing, the northern brand, created thirty-eight years ago by four former executives of the Mulliez group, had made a special place for itself in the hearts of French women who had designated it as their "favorite clothing brand" in the 2010s. If it was finally acquired at auction by Celio (for the sum of 1.8 million euros) on December 7, its liquidation led to 2,600 layoffs.

The beginnings of a debacle for a once flourishing sector, but which has struggled to cope with changes and hard knocks over the past decade.

Sold at auction, the Roubaix Camaïeu brand was finally acquired by Celio for 1.8 million euros on December 7, 2022. OceanProd / stock.adobe.com

A sector in the storm

How did these fashion brands find themselves at an impasse?

Among the weakening factors mentioned: the triumph of e-commerce, a shift not always taken in time for these brands that were created at the beginning of the digital age.

The arrival of new competition, ultra-fast fashion, the advent of second-hand or simply the saturation of supply in this accessible range also come into play.

Just like management errors.

This is the case for Pimkie, and the brands of businessman Michel Ohayon (owner and ex-owner of several companies in difficulty such as Camaïeu, Go Sport and Gap France, also looking for buyers), who admits to having sometimes goes wrong in an interview for

.

Aggravated by the Covid 19 crisis, the context does not bode well for the star brands of the late 20th century.

For the latter, the return of the fashion of the 2000s, and initiatives to stay up to date (such as ecological speeches at Kookaï and Pimkie, the launch of a premium range for San Marina or the sale of second hand for Pimkie and Go Sport), were not enough to convince.

Especially since the times have changed, and with it the concerns of consumers.

According to an IFOP study carried out with Purpose Lab and New Model in 2021, 51% of French people questioned said they did not trust the ethical and ecological commitments of major brands and 64% said they were ready to pay more to meet these criteria.

What deeply destabilize a whole generation of mid-range brands,