The French clothing brand Jennyfer, known from the offer addressed to women and teenagers, declared bankruptcy after 40 years of activity. The decision of the Economic Court in Bobigny, issued on April 30, means the liquidation of the network, closing 300 stores and releasing 1000 employees.
Despite the attempts to reposition and rebranding, Jennyfer failed to stay on the market. The company, which in 2019 changed its name to “Don't Call Me Jennyfer”, and then returned to its original brand after the takeover of two French entrepreneurs and a Chinese investor, has been struggling with financial difficulties for years.
In the application for liquidation, the Management Board indicated the growing operating costs, a decrease in the purchasing power of clients and competitive pressure from global brands. Despite the annual sales of EUR 250 million, the company was unprofitable.
Liquidation means closing stores not only in France, but also in Belgium and North Africa. The Management Board assured that remuneration for May would be paid, though with a delay. The operations are to be continued until May 28, and potential buyers can submit acquisition offers until May 13.
Jennyfer on the Polish market
The brand was popular in the 2000s, and its products were also available in Poland – both online and in selected stationary stores, such as Stradimoda outlet. However, despite attempts to maintain the presence in Polish shopping centers, Jennyfer failed to gain a strong position on the market – writes Rzeczpospolita.
Marek Jennyfer, which for decades was a fashion symbol for young women, did not survive the transformation of the clothing market. Her fall is another example of the challenges that traditional brands are facing in the face of changing consumers' preferences and growing competition from global players.
Source: Rzeczpospolita, Fashion Network
