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Struggling fashion retailer Kookai's future uncertain in UK

28
Dec '05
The financially troubled fashion retailer Kookai, owned by French clothing and shoe company Vivarte, could vanish in short time from the high streets of UK as its British franchise-holder for the brand Forminster faces a possible collapse.

The London-based Forminster stated it seems to be highly uncertain for the company to hold trading position from 1 January 2006, the date its agreement with Kookai formally expires.

Since October, Forminster has been in constant talks with Vivarte, when Kookai's parent announced that the deal with its UK operator was "not appropriate to be renewed".

"Continuing discussions with Kookai have, to date, been inconclusive," Forminster stated.

In the first half ended 27 August 2005, the Kookai franchise forms most of the business of Forminster, which operated nearly 100 stores and racked up a net loss of GBP1.9 million.

Meanwhile, Kookai is poised to make a new business start in Germany after severing ties with its Germany distributor Fashionform Clothing in June and closing all of its stores.

In Duesseldorf, the company has opened a new subsidiary in August to cater its approximately 300 wholesale customers in Germany. At home in France, It revealed a new concept in its 200 square metre store in Paris to underline the brand's relaunch.

Currently in France, Kookai operates 128 stores and outlets, and 244 international stores as well as some 700 retail accounts.


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