IKKS Group acquired, many jobs to be cut

French ready-to-wear group IKKS, having been placed in receivership, has found a buyer. The acquisition will see its workforce halved with the loss of approximately 500 jobs, according to the takeover bid approved by the Paris Commercial Court on Friday.

546 direct jobs retained out of 1,094

The offer proposes the retention of 546 direct jobs out of 1,094 in France and 119 points of sale. The bid comes from Santiago Cucci, current president of the holding company HoldIKKS and an experienced textile industry executive, and Michaël Benabou, co-founder of Veepee (formerly Vente-privée). The court approved the offer, according to a judgment seen by AFP.

Vincent Redrado, founder of DNG – The Consumer Consulting Firm, explained the situation to FashionUnited in October 2025. He stated that the IKKS case is not a simple cyclical setback linked to inflation or competition from Shein and Temu. Instead, it reveals the failure of a business model that could not balance its fixed costs against its brand desirability.

Redrado, whose firm DNG supports brands such as Fusalp, Eric Bompard and Zadig et Voltaire, identifies three structural problems that inevitably lead to a suspension of payments: a fatal dependence on brick and mortar retail; the deterioration of the brand image; and the accelerating impact of LBO logic.

This AFP dispatch has been edited by the FashionUnited editorial team.

This article was translated to English using an AI tool.

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