Pimkie closes its stores in Spain

Pimkie no longer has stores under its brand in Spain. The French women’s fashion chain had transferred its operations in the country to the master franchisee Young Fashion Group in 2021 after directly managing this market. The entity Dimodes, overseeing this network of around 20 stores, was liquidated on October 26, as indicated by the Barcelona trade register.

All stores (about 24 units, according to the website, currently under maintenance) have since closed their doors in Spain. When contacted by FashionNetwork.com, Pimkie’s management in France stated that the master franchisee “encountered management difficulties linked to the underperformance of the Spanish market and was forced to initiate judicial liquidation.”

In the past, Pimkie enjoyed success in Spain, where it had more than 70 points of sale. However, similar to France, the situation gradually deteriorated for the brand. In 2022, a social plan was already implemented at Dimodes, resulting in the closure of 16 stores and the elimination of 52 positions.

The exit from Spain comes as a blow to the brand, which changed hands in February 2023, sold by the Mulliez family to a consortium comprising Lee Cooper France, Ibisler Tekstil, and Salih Halassi. The latter took over as president of Pimkie and has been assisted by Elodie Chelle as deputy general manager, following the premature departure of Sandrine Lilienfeld.

In France, Pimkie’s future remains fragile. To revitalize, the new management has initiated a cost-cutting plan involving the closure of 64 stores and the reduction of 257 positions between 2023 and 2027. However, the current situation raises internal concerns: according to the unions present in the company, the Economic and Social Committee (CSE) has initiated an economic alert to obtain detailed information on Pimkie’s health.

In 2022, Pimkie, with a portfolio of 302 stores in the French market, generated a turnover of 319 million euros.