NewsWorldThe Pimkie brand put up for sale by the...

The Pimkie brand put up for sale by the Mulliez family – Le Figaro

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The brand, which has 232 own stores and 81 affiliated stores for 1,500 employees, has been experiencing difficulties for more than a decade. The Mulliez family association (AFM) is looking for a buyer for its women’s ready-to-wear brand Pimkie, which has been experiencing difficulties for more than a decade, according to management and unions on Monday, confirming information from the specialized media Fashion Network. “The current shareholder is looking for an external shareholder solution and is giving himself several months to do this research and find the best possible solution,” said Pimkie’s communication to AFP on Monday. Read alsoThere were several times, a pioneer in second-hand children’s clothing Pimkie, which has 232 own stores and 81 affiliated stores for 1,500 employees, had achieved nearly 200 million euros in sales in 2020. The brand founded in 1971 had appointed at the beginning of January Philippe Favre, an executive specializing in the management of companies in difficulty, as managing director. With this arrival, the employees expected “a business turnaround with a restructuring, certainly store closures”, explained to AFP on Monday Karine Therage, store manager in Noyelles-Godault in the Pas-de- Calais, elected to the CSE and union delegate CFE-CGC. But last week, “the announcement was made on the search for a potential shareholder,” she continues. “Pimkie is therefore for sale and there would be a specification: they have withdrawn the possibility of a pension fund, they are looking for a shareholder who could give the company a future”. “It is the employees who are undermined” The union fears that the buyer will follow the path traced by Philippe Favre, providing for store closures. “We find it unfortunate that it is the buyer and not the Mulliez family who does the dirty work. We feel left on the side, ”laments Karine Therage again. “Pimkie was from 1970 to the 2000s a flourishing company which contributed to the growth of other companies in the Mulliez galaxy. It almost feels like a betrayal.” Read alsoWith inflation, consumption begins to falter The brand has suffered since the beginning of the 21st century from the textile crisis, which has affected many once flourishing groups in the clothing sector, such as André, Camaieu or La Halle for example. On its Facebook page, the CFDT is concerned that the sale process “puts the whole + business plan + in question”, leaving the field open to the new buyer, which is “an additional source of anxiety for the employees”. Unsa observes for its part that “the Mulliez group wishes to separate from the textile brands” and that “the investment requested for the recovery of Pimkie” has dissuaded these shareholders from following this path. “Once again, it is the employees who are harmed, who are being driven crazy but are asked to remain motivated, to continue to work as if nothing had happened”, finally regrets the CGT Pimkie , also on Facebook. SEE ALSO – Video games: metaverse, Game Pass … what’s behind Microsoft’s takeover of Activision

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