2023-07-18 19:27:59
After the liquidation of Camaïeuthe investments in receivership of Go SportGap France and Kookaï at the start of 2023, it was Catimini’s turn to go through a bad patch. The clothing brand for children announced on Tuesday plans to close 44 stores in France by December as part of a recovery plan proposed by its managers to “reduce the losses incurred by the company”, already in difficulty when it joined the IDKIDS group in 2020.
“On July 18, the management team presented to staff representatives a company recovery plan”, indicated Catimini on Tuesday in a press release, which should “allow both to reduce the losses incurred by the company and to allow, tomorrow, to redeploy the brand”, without layoffs.
This recovery plan “provides for the closure of 44 stores mainly in France, Belgium and Luxembourg”. Five other stores would be “subject to intra-group disposals, becoming Jacadi stores”. These disposals or closures should be staggered from the end of September to December 2023.
An offer focused on “its iconic products”
The Catimini brand was already experiencing “significant difficulties” when it joined IDKIDS in 2020, a group that brings together an ecosystem of 18 brands of products and services for children aged 0 to 12.
Despite two recovery plans – which “require a long time and resources that IDKIDS does not currently have” – and in the face of “the demands of the global economic context (rise in the cost of materials, energy, inflation, new consumption habits…)”, IDKIDS must now “focus its investments on shorter-term developments and projects”, specifies the press release.
Catimini will therefore now focus “its offer on its iconic products”. In concrete terms, the brand will be “offered in capsule format” and distributed in the group’s multi-brand networks (IDKIDS and idkids.fr stores), as well as wholesale.
“A major mobility plan within the other brands of the IDKIDS group should make it possible to greatly limit the social impact of this project”, via a “job safeguard plan” to support the 89 employees of Catimini, promises the brand. in his press release.
“With a large network of 484 stores”, the IDKIDS group, which has a total of 6,000 employees and 1,300 stores in 65 countries, “can offer each Catimini employee opportunities for intra-group mobility”, it is specified.
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