Santiago Cucci, the new owner of IKKS, is planning “double-digit growth” for the fashion company by 2027. After taking over the ailing company, he announced a re-entry into the Spanish market. In addition, more than ten additional stores are to be taken over and previously laid off employees are to be rehired. A total of 17 million euros will be invested.
“We have changed everything,” Santiago Cucci told the press on Wednesday when presenting his strategic direction. Cucci is the current president of the holding company HoldIKKS. He took over the brand in December together with Michaël Benabou, co-founder of the online sales platform Veepee.
The French brand IKKS was founded in 1987. She is known for high-quality ready-to-wear for women, men and children with a rock DNA.
The company applied for restructuring proceedings in October. At the time, the group cited “the global health crisis caused by Covid-19, the consequences of the war in Ukraine, where the group had a strong presence, and persistent inflation” as reasons.
The takeover saved 546 jobs in France. That corresponds to around half of the workforce.
“It was a disaster,” said Basque manager Santiago Cucci, who previously worked for Quiksilver and Tommy Hilfiger. He has “reorganized” the entire production chain, logistics, IT and the administration of the warehouses and boutiques.
“Today IKKS produces a third each in Asia, Europe and the Maghreb,” explained Cucci. The company also owns more than 250 stores.
The new owners have invested 17 million euros and “paid back the debt,” he added.
In addition to the stores already taken over in December, they have taken over “more than ten additional” branches and rehired around 30 laid-off employees. “We have also regained the subsidiary in Spain,” which includes nine stores and 17 corners.
International expansion is one of the growth levers for the brand, according to the manager. “Today we generate 97 percent of our turnover in France. We are dependent on a single country and its macroeconomy. I’m not used to that,” admits Cucci, who has already managed large international companies. “Tomorrow we will be represented in several countries,” he says, without naming them.
The Chief Executive Officer (CEO) believes that customers have a strong connection to the brand. He wants to appeal to 30- to 35-year-olds who grew up with the brand. For 2026 he plans sales of over 120 million euros. In 2027, “double-digit growth” should be achieved and profitability restored.
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