Pimkie, the French women’s fashion chain, has bid farewell to its presence in Spain, with all stores closed after its master franchisee, Young Fashion Group, faced challenges leading to judicial liquidation. The entity overseeing the network, Dimodes, was officially liquidated on October 26, marking the end of around 20 stores in Spain.
Pimkie’s management in France acknowledged that the master franchisee encountered difficulties related to the underperformance of the Spanish market, resulting in this strategic withdrawal. This exit follows a decline for the brand in Spain, where it previously boasted over 70 points of sale. In 2022, a social plan was implemented, leading to the closure of 16 stores and the elimination of 52 positions.
This departure from Spain comes at a crucial time for Pimkie, having changed ownership in February 2023. The Mulliez family sold the brand to a consortium comprising Lee Cooper France, Ibisler Tekstil, and Salih Halassi. Despite the change, challenges persist in France, where Pimkie faces internal concerns and the initiation of a cost-cutting plan, involving the closure of 64 stores and a reduction of 257 positions between 2023 and 2027.
While Pimkie generated a turnover of 319 million euros in 2022 with its 302 stores in the French market, the current situation prompts internal scrutiny. Unions within the company have raised economic alerts, seeking detailed information on Pimkie’s health. The brand’s future in France remains uncertain, and the new management aims to navigate these challenges by implementing measures to revitalize its operations.
