French women fashion retailer Camaïeu is planning to close 135 stores outside of its home market. A few markets seem to stay out of reach. Examples are the BeNeLux and Swiss market.
Camaïeu has its own network in countries where it will close stores. Based on information by LSA, it concerns stores in Hungary, Italy, Poland, Romania, Slovakia and the Czech Republic. With this, the fashion brand mainly focuses on its strong home market: France.
In total, Camaïeu has about 900 stores. It generates more than 85% of its turnover in its French home market. The reorganisation takes place as the company, with its last year installed new CEO Joannes Soënen, is pulling back to its strongest markets. The result is the closing of 135 international shops.
The reorganisation of the fashion brand is a necessity, as it had been placed under a safeguard procedure at the end of 2018. Its main creditors took over the company at the beginning of 2019 and, while the company states it is profitable, it is reorganising to become more future-proof.