The women’s ready-to-wear brand Naf Naf, in receivership since last September, was taken over on Tuesday June 18 by a Turkish fabric manufacturing company, which saves nearly 90% of jobs, according to a court decision consulted by AFP. The company Migiboy Tekstil offered more than 1.5 million euros to take over Naf Naf and committed to saving the jobs of 521 people and maintaining 100 own stores. This Turkish company employs around 750 people, we can read on its site.
Last May, the management of Naf Naf declared to AFP that the offer from Migiboy Tekstil demonstrated a “ real desire to take over the business “. Heavily in debt due in particular to unpaid rent during the Covid-19 pandemic, Naf Naf was placed in receivership in September 2023. In the decision of June 18, the Bobigny commercial court (Seine-Saint-Denis) also recalls that society suffered from “ a drop in attendance in catchment areas » and the effect “ inflation and the increase in the cost of raw materials ».
A sector in crisis
Launched in 1973 by two brothers, Gérard and Patrick Pariente, Naf Naf had already been placed in receivership in May 2020. The company was then taken over by the Franco-Turkish group SY International, which employs more than 1,000 people around the world. , and had already acquired the Sinéquanone brand in 2019. In October 2023, Naf Naf employed 682 employees in France, owned 125 stores in France and 69 affiliated stores, according to the court decision.
The first job cuts and store closures took place following the opening of the judicial recovery procedure in September 2023. But “ taking into account the results of the observation period, the presentation of a clearance plan proved to be compromised » and the judicial administrators then launched a call for tenders to take over the company in April, explains the decision.
Camaïeu, Kookaï, Gap France, Don’t Call me Jennyfer, André, San Marina, Minelli, Pimkie, Comptoir des Cotonniers, DPAM, Sergent Major, Princesse Tam Tam, Kaporal, IKKS… Ready-to-wear is going through a violent crisis For more than one year. It was fatal for certain brands, which were liquidated, such as Camaïeu in September 2022, with the dismissal of 2,100 employees which had a strong impact on people’s minds.
Some companies have cut staff and closed stores, like Pimkie. Others had been placed in receivership, such as Naf Naf or Kaporal. In addition to Camaïeu, liquidation was pronounced for San Marina or Burton of London more recently. These well-known brands in French city centers have suffered from an explosive cocktail: pandemic, inflation, rising prices of energy, raw materials, rents and wages, or even competition from second-hand and ” fast fashion ».
According to the French Fashion Institute (IFM), the volume of sales in the fashion sector fell by 4% in 2023.
