Comptoir des Cotonniers and Princesse Tam-Tam affected by a new social plan

The Fast Retailing France group, a subsidiary of the Japanese giant of the same name, announced on Monday that it was considering the closure of 55 stores of the Comptoir des Cotonniers and Princesse Tam-Tam clothing brands out of 136 in France, as well as the elimination of 304 posts.

The announcement of this “distribution strategy overhaul project” and of “reorganization of the network of points of sale” was made on May 23 to the representative bodies of the staff of the two brands, the group told Agence France-Presse (AFP), confirming information from the specialized site FashionNetwork.

Comptoir des Cotonniers (women’s clothing) and Princesse Tam-Tam (lingerie) are owned by Fast Retailing France, an entity of the Japanese textile giant whose flagship brand is Uniqlo.

Read also: The French brands Princesse Tam-Tam and Comptoir des Cotonniers undergoing restructuring

“Serious difficulties”

The objective of the plan is to “continue to adapt Fast Retailing France to changes in the clothing market and stem the serious difficulties encountered by the company and its subsidiaries in order to ensure their sustainability”according to the group.

“The situation today is such that it no longer allows Fast Retailing France to continue without risking compromising its future and that of its brands. Especially since no prospect of a real recovery is envisaged.he also says.

Regarding Comptoir des Cotonniers, the project provides for the closure of 28 points of sale out of the 67 currently operated in France, and the elimination of 101 positions out of 272 permanent contracts.

For Princesse Tam-Tam, the closure of 27 points of sale out of 69 is planned, as well as the elimination of 84 positions out of 235 permanent contracts.

Added to this is the elimination of 119 positions directly within Fast Retailing France, “in order to adapt the workforce to the reorganization of the distribution network but also to reduce its oversizing”.

“The objective is to close the closures [de boutiques] by August 2024, but employee support will be provided over a longer period”the group said.

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The World with AFP