Less than a year after emerging from receivership proceedings, the French ready-to-wear brand Jennyfer, targeting 10- to 19-year-olds, is preparing to file for liquidation. The company's management announced the announcement to AFP on Tuesday.
Jennyfer, known for its trendy, low-cost collections, has failed to overcome the sector's structural difficulties. "The explosion of costs, the decline in purchasing power, changes in the textile market and increasingly aggressive international competition have made its economic model untenable.", the management said.
Founded in the 1980s, the brand had nevertheless attempted to reinvent itself in recent years, focusing on communication aimed at younger generations and an increased presence on social media. In vain.
This announcement marks a further blow to the French textile industry, already weakened by slumping consumption and an ultra-competitive market dominated by international fast-fashion giants. The date of the hearing at the commercial court has not yet been announced.
