The French IKKS Group, which was in bankruptcy proceedings, has found new owners. However, the workforce will be reduced by half, meaning the loss of around 500 jobs. This emerges from the takeover offer, which was confirmed by the Paris Economic Court on Friday.
The offer provides for the preservation of 546 of the 1,094 direct jobs in France and 119 sales outlets. It 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 confirmed their offer, according to a ruling obtained by the AFP news agency.
As Vincent Redrado, founder of DNG – The Consumer Consulting Firm, explained to FashionUnited in October 2025, the IKKS case is not a simple economic setback. It is not just due to inflation or competition from Shein and Temu. Rather, it reveals the failure of a business model that has not found a balance between fixed costs and desirability.
Vincent Redrado, whose company DNG oversees brands such as Fusalp, Eric Bompard and Zadig & Voltaire, identifies three structural problems. These inevitably lead to insolvency. These include the fatal dependence on stationary retail, the deterioration of the brand image and the accelerating effect of the LBO logic.
This AFP article was edited by the FashionUnited editorial team.
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