Celio Plans to Close 102 Stores in France
“344 jobs in stores and 39 in support functions” are concerned, according to a press release from the management specifying that the consultation of the CSE “will extend until the first quarter of 2021” and that the stores will remain open “for the Christmas period , with the exception of a few whose leases are expiring “.
In this text, the management “undertakes to make every effort to propose solutions favoring the repositioning of the employees concerned, thanks to internal reclassification measures and to personalized support for the construction of external professional projects”.
The brand, founded in 1978, currently has 1,500 stores in 46 countries, including 478 stores in France, and 4,200 employees worldwide, including 2,416 in France as of October 1, 2020. “Part of this network is a source of losses significant financials due to the drop in profitability of certain stores, ”explains Celio.
The struggling fashion market
“In the coming months, we will accelerate our transformation”, indicates Gaelle de la Fosse, president of the group. Management is in fact preparing a “backup exit” plan to be presented in the first quarter of 2021.
Celio is not the only ready-to-wear brand to bear the brunt of the Covid-19 crisis, since La Halle, Andre, Naf Naf or Camaïeu have all lost employees. Recently, the American giant Gap announced that it plans to close all of its stores in Europe by June 2021.
The previous two years had already been marked in France by the demonstrations of yellow vests and by social mobilizations against the pension reform, which affected many businesses.
In addition, the fashion market is “structurally in difficulty” and “has lost 17% of its value over the last ten years”, according to Yohann Petiot, director general of the Alliance du commerce, which brings together the Union du Grand town center trade, the Federation of clothing brands and that of footwear brands.
which “represents more than 20% of the annual turnover of fashion brands “, notes Yohann Petiot.
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Celio Plans to Close 102 Stores in France - /10