Pimkie's restructuring shows encouraging results for Q1
Pimkie store in France. Credits: FashionUnited. Lille - Following a difficult period marked by a bankruptcy protection procedure, the French ready-to-wear brand Pimkie announced promising sales results for the first quarter and its intention to invest 10 million euros this year, particularly in the renovation of its boutiques. Encouraging First Quarter for Pimkie, Which Will Invest This Year In a statement, Pimkie welcomed the “very encouraging initial results” of its transformation plan, launched two years ago, with a 20 percent increase in turnover in the first quarter, “thus confirming a return to profitable growth momentum”. Reporting a “healthier balance sheet” and “solid” cash flow, Pimkie also said it plans “more than 10 million euros of investment in 2025, mainly in store renovation, IT and communications”. “Today the foundations are solid and the momentum is well underway. It is time to fully implement our roadmap,” said the chief executive officer of Pimkie, Salih Halassi, quoted in the statement. Last November, the Lille commercial court validated the continuation plan for the Villeneuve-d'Ascq (Nord)-based brand, considering that the clearance of its liabilities and a return to profitability from 2026 were achievable objectives. Pimkie has carried out a vast restructuring over the past two years, drastically reducing its workforce and store network. The brand now has only 189 stores in mainland France (70 of which are affiliated), compared with over 300 in 2023, and 768 employees compared with 1,500 two years ago. On the operations side, Pimkie has revamped its purchasing strategy, “favouring flexibility, reactivity and cost control”, in particular via “optimised” sourcing in Morocco and Turkey, according to its statement. The entire French ready-to-wear sector has been in crisis for several years, against a backdrop of the pandemic, then inflation and the explosion of new online fast fashion platforms such as Chinese brand Shein. The latest victim to date: the Marseilles-based group Kaporal, specialising in denim, which was placed in compulsory liquidation at the end of March with the immediate cessation of activity, resulting in the loss of 280 jobs. This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@fashionunited.com
Lille - Following a difficult period marked by a bankruptcy protection procedure, the French ready-to-wear brand Pimkie announced promising sales results for the first quarter and its intention to invest 10 million euros this year, particularly in the renovation of its boutiques.
Encouraging First Quarter for Pimkie, Which Will Invest This Year
In a statement, Pimkie welcomed the “very encouraging initial results” of its transformation plan, launched two years ago, with a 20 percent increase in turnover in the first quarter, “thus confirming a return to profitable growth momentum”.
Reporting a “healthier balance sheet” and “solid” cash flow, Pimkie also said it plans “more than 10 million euros of investment in 2025, mainly in store renovation, IT and communications”.
“Today the foundations are solid and the momentum is well underway. It is time to fully implement our roadmap,” said the chief executive officer of Pimkie, Salih Halassi, quoted in the statement.
Last November, the Lille commercial court validated the continuation plan for the Villeneuve-d'Ascq (Nord)-based brand, considering that the clearance of its liabilities and a return to profitability from 2026 were achievable objectives.
Pimkie has carried out a vast restructuring over the past two years, drastically reducing its workforce and store network. The brand now has only 189 stores in mainland France (70 of which are affiliated), compared with over 300 in 2023, and 768 employees compared with 1,500 two years ago.
On the operations side, Pimkie has revamped its purchasing strategy, “favouring flexibility, reactivity and cost control”, in particular via “optimised” sourcing in Morocco and Turkey, according to its statement.
The entire French ready-to-wear sector has been in crisis for several years, against a backdrop of the pandemic, then inflation and the explosion of new online fast fashion platforms such as Chinese brand Shein.
The latest victim to date: the Marseilles-based group Kaporal, specialising in denim, which was placed in compulsory liquidation at the end of March with the immediate cessation of activity, resulting in the loss of 280 jobs.
FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@fashionunited.com
This article was translated to English using an AI tool.
