The Italian concept store Modes has closed its Parisian flagship

The Italian high-end multi-brand network Modes has just closed its Parisian store, which opened on a grand scale at 17 rue François Ier in 2021 and which brought a contemporary premium offering to the Parisian scene.

It seems that despite significant activity, the Parisian store has not managed to find profitability. Modes saw its French subsidiary placed in compulsory liquidation in December. For its financial year ending at the end of February 2023 (latest results filed with the Paris commercial court registry), the company recorded a turnover of 5 million euros for an operating loss of nearly 1.7 million.