The announcement of this “project to overhaul the distribution strategy” and “reorganization of the network of points of sale” was made on Tuesday, May 23 to the representative bodies of the staff of the two clothing brands.
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Another blow for French textiles. The Fast Retailing France group, a subsidiary of the Japanese giant of the same name (which also owns the Uniqlo brand), announced on Monday June 5 that it is considering the closure of 55 Comptoir des Cotonniers and Princesse Tam Tam stores out of the 136 in its possession in France. . The multinational also plans to cut 304 jobs.
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In detail, concerning 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. To this is added the elimination of 119 positions within Fast Retailing France “in order to adapt the workforce to the reorganization of the distribution network but also to reduce its oversizing”justifies the company.
The announcement of this “distribution strategy overhaul project” and of “reorganization of the network of points of sale” was made Tuesday, May 23 to the representative bodies of the staff of the two clothing brands. “The objective is to end the closures (of shops) by August 2024”according to elements transmitted by the group to AFP.
The Japanese group explains these decisions by its desire 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”. And the band continues: “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”.
Source: France TV Info