The French fashion brand IKKS has been placed under judicial administration, putting over 1,000 jobs at risk, a Paris court confirmed on Friday.
The company, which had already faced financial struggles in recent years, had secured debt forgiveness from creditors and fresh investments in 2024.
However, on Thursday, the Paris court initiated judicial administration for IKKS, granting an observation period until April 2026. The procedure applies solely to its operations in France.
Founded in 1987, IKKS is a high-end fashion brand for women, men, and children, known for its “rock DNA,” according to its president in June 2024.
The group, which includes the brands I.Code, One Step, and IKKS, operates 600 retail locations and employs 1,500 people worldwide. There are a number of IKKS stores in Belgium, including one on Avenue Louise in Brussels.
In February 2024, IKKS had announced a job protection plan, which aimed to cut 202 positions in France out of 1,328 and close 77 stores or retail corners out of 604, amid a challenging climate for the fashion industry.
The company attributed its difficulties to several external factors, including the COVID-19 pandemic, the impacts of the war in Ukraine — where it had a significant presence — and ongoing inflation.
Ultimately, 140 jobs were affected by the job protection plan after reassignments helped save around 60 positions, according to company president Ludovic Manzon.
A source close to the matter told AFP that €30 million had been allocated to help IKKS return to profitability.
Despite these efforts, IKKS now joins a growing list of struggling French retail fashion brands, such as Camaïeu, Kookaï, Gap France, Jennyfer, André, San Marina, Minelli, Comptoir des Cotonniers, and Kaporal.
These brands have been hit hard by a mix of challenges, including the pandemic, inflation, surging energy costs, increased rent and wages, and rising raw material prices, along with growing competition from second-hand markets and fast-fashion leaders like Shein.
