Facing financial difficulties, French women’s fashion brand Naf Naf is implementing a job protection plan (PSE) that will involve the closure of 17 stores in France. This decision will unfortunately result in 149 job losses..
The company, which is owned by Chinese textile group La Chapelle, has been struggling in recent years due to the rise of online shopping and competition from fast-fashion retailers. Naf Naf’s financial situation deteriorated further during the COVID-19 pandemic, which forced the company to close its stores for several months..
The PSE, which was approved by the labor authorities on January 20, 2023, will affect 149 employees, including 137 in sales positions and 12 in management positions. The affected stores are located throughout France, with the majority in the Paris region..
Naf Naf has offered to redeploy employees to other stores or provide them with training and support to help them find new jobs. The company has also set up a fund to provide financial assistance to employees who are unable to find new employment..
The closure of the 17 stores is part of Naf Naf’s broader restructuring plan, which aims to improve the company’s profitability and competitiveness. The company is also focusing on developing its online business and expanding its international presence..
Naf Naf was founded in 1973 and quickly became a popular brand for young women in France. The company expanded internationally in the 1990s and at one point had over 500 stores in 20 countries. However, in recent years, Naf Naf has faced increasing competition from fast-fashion retailers and online shopping platforms..
The closure of the 17 stores in France is a significant setback for Naf Naf, but the company is determined to restructure and rebuild its business. The company’s goal is to become a more profitable and sustainable business, with a focus on online sales and international expansion..
