Princesse Tam Tam and Comptoir des Cotonniers placed in receivership
FashionNetwork had revealed at the end of June that Fast Retailing France, owner of the two brands and a subsidiary of the Japanese giant of the same name whose flagship brand is Uniqlo, was preparing its application to be placed in receivership. The company highlighted "the continuing financial deterioration" in the accounts of the lingerie and womenswear brands respectively, "in a market context that has not improved", as a source later told AFP.
The group had already announced in June 2023 that it was considering closing 55 Comptoir des Cotonniers and Princesse Tam Tam stores out of 136 in France, as well as cutting 304 positions for these two brands.
The aim of the plan was to "continue to adapt Fast Retailing France to changes in the apparel market and to stem the serious difficulties encountered by the company and its subsidiaries in order to ensure their sustainability", according to the group.
Comptoir des Cotonniers and Princesse Tam Tam would not have withstood the crisis affecting mid-range ready-to-wear brands, which are facing competition from the rise of "ultra fast fashion" and second-hand clothing. Some of them had already been hit by the Covid pandemic, which brought economic activity to a standstill, followed by inflation and rising energy, raw material, rent and wage costs. This explosive cocktail has severely tested these well-known businesses in city centers and shopping zones.
But many industry observers are questioning Fast Retailing's strategy for its French brands. The former chairman of Comptoir des Cotonniers, Frédéric Biousse, is even proposing to join forces with the Japanese group to relaunch the two brands.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fashion Network
32 minutes ago
- Fashion Network
Bonton celebrates 25 years with runway show in Paris and expansion plans
Paris-based children's fashion label Bonton will celebrate its 25th anniversary with a high-profile runway show at the Palais de Tokyo on Wednesday, September 17, 2025. Known for its playful aesthetic and concept-store spirit, Bonton will spotlight iconic archive pieces and welcome artists and collaborators who have shaped its creative identity. The event marks the launch of a year-long anniversary campaign, including a limited-edition capsule collection co-designed with the Palais de Tokyo, according to general manager Olivier Prudhomme. Founded in 2001 by Irène and Thomas Cohen, Bonton quickly gained recognition for its vibrant children's collections and immersive concept-store boutiques throughout France and internationally. In 2016, the brand was acquired by Marco Polo, the investment firm led by Xavier Marie—also known for backing Eric Bompard, Le Petit Souk, and Rautureau. Like many in the industry, Bonton was impacted by the COVID-19 pandemic, which brought significant shifts in consumer behavior. After entering court-ordered receivership, the brand was acquired in December 2023 by the Roger Zannier group, which also owns Tartine et Chocolat. Under this new leadership, Bonton has returned to its core focus on children's fashion. The brand has streamlined its offerings by scaling back teenwear, home décor, and womenswear, while implementing a refreshed distribution strategy that balances retail, wholesale, and e-commerce channels. The repositioning is already showing positive results. Bonton is preparing to open a new Paris flagship on July 16 at 144 Rue de Courcelles. The 80-square-meter location will feature fashion and lifestyle pieces alongside a curated mix of partner brands, continuing the concept-store DNA established by its founders. Alongside its Paris expansion, Bonton has opened a seasonal pop-up in Biarritz, which will run through October. The brand also maintains a strong retail presence through Galeries Lafayette locations in Paris and Nice, in addition to four standalone stores. As part of its regional expansion strategy, Bonton is exploring growth through franchising, with a focus on store formats ranging from 80 to 120 square meters. Lyon is currently being considered as the first location in this renewed rollout. Although specific revenue figures were not disclosed, Prudhomme shared that approximately 40% of Bonton's turnover comes from retail, 10% from e-commerce, and 50% from wholesale. The brand also participated in the Playtime Paris children's trade show from June 28 to 30, signaling its renewed presence in the professional circuit. Looking ahead, Bonton is prioritizing international expansion. South Korea, where it currently operates eight shop-in-shop locations, stands as its second-largest market after Europe (which accounts for roughly 30% of total sales), followed by the United States.
Fashion Network
33 minutes ago
- Fashion Network
Rocher to exit Israel and centralize Sabon production in France
French beauty leader Groupe Rocher is reorganizing Sabon, one of its key skincare brands, as part of a global repositioning. The group will exit Israel, consolidate manufacturing in France, and expand Sabon's footprint in Asia and beyond. The restructuring follows Groupe Rocher's strategic decision, announced in January, to streamline operations and divest from non-core subsidiaries, including Petit Bateau and Stanhome. Originally founded in Tel Aviv in 1997, Sabon became part of Groupe Rocher in 2018. Best known for its bath and body collections inspired by Dead Sea minerals, the brand is now shifting its growth strategy toward international markets—particularly in Asia. Meanwhile, Groupe Rocher will reinforce production at its industrial facilities in Brittany. As part of the transition, Rocher will sell Sabon's 22 stores in Israel to a local partner. According to local reports, these locations currently employ approximately 90 people. Sabon's production facility in Kiryat Gat, which employs 104 staff, will continue operations during negotiations but is set to cease production by mid-2026. Rocher also plans to close Sabon's Marlog logistics center once its lease expires. The site currently employs 16 people. The group confirmed that it will provide support and transition assistance to all impacted employees. Sabon's Israeli headquarters—home to 60 staff—will gradually transfer its operations to France beginning in late 2025, with the relocation process expected to be completed by mid-2026. Full production will be centralized in Brittany by June 2026. Today, Sabon operates in 10 countries with 193 stores. Between 2019 and 2024, the brand doubled its sales, with online sales now contributing 25% of total revenue. In France, Sabon maintains five boutiques, including four in the Paris region. The brand currently accounts for 6% of Groupe Rocher's overall business. It stands as one of four strategic pillars within the group, alongside Yves Rocher (53%), Arbonne (13%), and Dr. Pierre Ricaud (2.5%). Groupe Rocher reported €2.2 billion in revenue for 2024, reflecting a 2.4% increase over the previous year.
Fashion Network
33 minutes ago
- Fashion Network
Galeries Lafayette Haussmann enjoys rapid growth, amid store revamp and tourism boom
Business at 's famed Boulevard Haussmann flagship is booming this year, amid a huge flood of tourists into the nation's capital, and a significantly refreshed retail offer. In the first half of 2025, the flagship achieved double-digit sales growth, outperforming the estimated 9% increase in tourists visiting France during the same period. Annually, some 37 million people visit the handsome Art Nouveau store, Europe's largest – 60% of them non-French, a remarkable figure when one considers that 89 million people visited France in 2024. The recent increase in traffic and business has also been driven by a substantial revamp of key floors in this luxury bazaar. 'We have worked hard on improving the customer experience and offer and consumers have reacted very positively,' stressed Guillaume Houzé, board member and director of image, over a summer lunch Thursday. Specifically, the store has expanded its space for prominent French runway brands such as Jacquemus, Lemaire and AMI, particularly in their menswear department, and has focused even more attention on their major league brands on the ground floor. Not surprisingly, the store's top-selling brands are Louis Vuitton and Chanel. In an ongoing revamp of the huge store, private salons have been added to key brands' shop-in-shops at Haussmann. 'The goal is to make the customer experience comparable to a Vuitton flagship. Right now, we believe that Vuitton's store in Galeries Lafayette Haussmann is among the top five stores of Vuitton worldwide,' noted Houzé, great-great-grandson of the store's founder Théophile Bader, who opened the debut store in 1894. Under buying director and board member Arthur Lemoine, the store has also expanded the presence of leading international labels, recently opening a striking Phoebe Philo boutique, adding Bottega Veneta and creating a 110-square-meter store for Paris' favorite new American label, The Row. It has also added the only French shop-in-shop of LVMH marque Patou, which will stage its next show this Sunday in Paris. Meanwhile, the boutique of Courrèges – thanks to the direction of the brilliant Franco-Belgian designer Nicolas Di Felice – has expanded from 20 square meters to 110 square meters. 'We want to nourish that difference in our offer, with more directional fashion, compared to other places in Paris,' explained Lemoine at a suitably Lucullan lunch in Galeries Lafayette's VIP salon. Courgette flowers stuffed in crunchy vegetables served on Andalusian gazpacho, followed by cumin-inflected grilled sea bream, washed down by a rare white Bordeaux, Smith-Haute-Lafitte. The fine menu complements the sophisticated mode available in this giant retailing complex. Familiar fixtures at major runway shows, the duo of Houzé and Lemoine are very excited about the recent debut show of Jonathan Anderson for Dior, where they sat front row. 'Personally, I thought it was formidable! We already have three Dior men's spaces, including for shoes and fashion. And cannot wait to get Jonathan's ideas for Dior in here in early January,' enthused Lemoine. A tour of the main building, or buildings – there are four large, interconnected spaces at Galeries Lafayette Haussmann, including a beautiful Art Nouveau structure topped by a glass cupola – underlined how chock-a-block they are this summer. After a couple of years where the space slowly emerged from the Covid pandemic, it is now packed, with lines outside hot brands' spaces. 'Do you know, the Christmas before Saturday, over 300,000 visited Galeries Lafayette Haussmann, which is pretty special,' marveled Lemoine, who is also gradually renewing its beauty, scent and wellness offer, even if Haussmann already has the largest beauty space in Europe. The growing traffic means that the famed flagship alone will break €2 billion in turnover in 2025, impressive numbers for a store with a total retail space of 70,000 square meters. Breaking down revenue by key categories, women's ready-to-wear and men's ready-to-wear each count for 20% of sales; leather goods and bags for 20%; watches for 10%; beauty for 5%; while gifting, books, home, tabletop and restaurants make up the final 25%. Internationally, this family-owned French institution is not resting on its laurels. Galeries Lafayette already has six large department store flagships outside of France, spreading from the Gulf to Jakarta to Shanghai. Next up, a debut store in Mumbai, where work has already begun inside an architecturally distinguished Victoria Gothic building near the central city zone of the Maidans. 'Most of the property like that is owned by the municipality, making alterations very complicated. But our building is privately owned, so we can make the sort of changes to create an exciting store,' enthused Houzé. Galeries Lafayette Mumbai, with 7,000 square meters of shopping space, will open at the end of 2026. One suspects Théophile Bader, whose bust in the VIP salon looks out at the rooftops of Paris to the July sun shining on Sacré-Cœur on Montmartre, would have been pleased.
