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We are gradually approaching the end of the year 2024. A dark year, marked by a financial crisis and the disappearance of thousands of stores. 2024 will have taught us an important thing: no brand is safe, and even the most popular groups suffer the consequences of this economic crisis.
Of course, not all brands are doing badly. But unfortunately, for some, this crisis is one too many. They therefore find themselves in a difficult situation, often with placements in compulsory liquidation. Enough to leave loyal customers in the lurch. Today, a disappearance will, without a doubt, sadden more than one French person.
A sign disappears
In France, private sales are very successful. The French appreciate the promotions they offer. This sometimes allows them to treat themselves to items from major brands without having to pay full price.
But after years of success, a company that is a few years old (its birth dates back to 2006) is facing increasing economic difficulties. Despite bold initiatives, such as event sales and premium ranges, the brand is unable to sustain its success. Result, today it shares a plan to cease activity, for lack of a buyer.
To have
After The Body Shop, this iconic beauty brand in France is on the verge of closing permanently
You probably know this brand, This is BazarChic. Its situation reflects that of many companies in compulsory liquidation. Once thriving, this private sales brand reached its peak in 2019 under the aegis of Galeries Lafayette.
At the time, its turnover reached 80 million euros. The sign could not be seen disappearing. In fact, it aimed to exceed 100 million euros in the following years.
How can we explain the brand’s difficulties?
On paper, this brand seems to tick all the boxes for adaptation and growth. In 2021, for example, it invested in a new website, a mobile application and new premises. Despite this seemingly positive momentum, the results are not up to par.
The fall of BazarChic can be explained in part by formidable competition. The behemoths of the sector, Veepee and Showroomprivémaintain their dominance, while platforms like Vinted transform consumption habits. Consumers, in addition, are facing the crisis. SO, they are turning to even more economical options.
In the columns of Le Parisien, an employee of the brand is not really surprised by his disappearance. According to him, she never managed to expand her clientele. His mistake? Not having diversified the offer with attractive brands. BazarChic, as he points out, generally sold unsold items from Galeries Lafayette.
To have
This famous house of French gastronomy in receivership, the brand concerned
What about the employees?
With this imminent closure, several jobs are now in danger. The first economic layoffs, planned for March, will concern around a hundred employees. For employees, often veterans within the company, the announcement is a real shock.
This sad outcome marks the end of an emblematic brand. The crisis, as we see, is no more kind to the big ones than to the small ones. Certainly, large brands often have more funds to get by. But not everyone succeeds.
For customers, it is the end of an era that they loved so much. A final reminder this year that no business should play with fire.
