Kookaï, the well-known women’s fashion chain, has found itself in a difficult financial situation and has been placed in receivership by the Paris commercial court. This move comes after the company was sold by the Vivarte group to Australian businessman Rob Cromb in 2017. Kookaï attributes its struggles to the economic challenges faced by the European ready-to-wear sector, which have been exacerbated by the Covid-19 crisis. In a statement, the company explained that it lacked the necessary resources and support from banks to revamp its stores, target a younger demographic, and embrace digitalization. Despite these obstacles, the management of Kookaï sees the receivership as an opportunity to improve its financial position and implement a new strategy to regain profitability. At present, finding potential buyers is not their primary focus.

Currently, Kookaï operates 121 sales outlets in addition to an e-shop, employing a total of 320 people. However, the company’s performance has experienced a significant decline, with a turnover of only 30 million euros in 2021 compared to the impressive 94.3 million euros achieved in 2013/14. Kookaï was first established in the Sentier district of Paris in 1983 by Jean-Lou Tepper, Jacques Nataf, and Philippe de Hesdin. It quickly gained recognition for its innovative “kookaïette” look, which offered bold and vibrant knits targeted at the mid-range market. In 1996, Kookaï was acquired by Vivarte before being taken over by its franchisee in Oceania, the Magi group, led by Rob Cromb.

The clothing sector has recently faced a wave of receiverships, with Camaïeu and San Marina, the shoe chain that was also a part of the Vivarte group, facing liquidation and receivership respectively in the fall of 2022. Additionally, other women’s fashion brands such as Cop.Copine, Roseanna, Symbiose, Modetrotter, and most recently, Go Sport, a sporting goods brand, have also undergone similar procedures.

[Link 1: Kookaï Website](https://www.kookai.fr/)
[Link 2: Vivarte Group Website](https://www.vivartegroup.com/en/)