EMCC European Monitoring Centre on Change

Fast Retailing

Company/Organisation:
Fast Retailing

Geographic Location

Country: France

Company

Sector: Retail
Wholesale and retail trade; repair of motor vehicles and motorcycles
47.71 - Retail sale of clothing in specialised stores
Number Employed: 517

Employment Effects

Announcement Date: 03-03-2021
Planned Job Reductions min: 285
Planned Job Reductions max: 285
Type of Restructuring: Internal restructuring
Employment Effect Start: 15-05-2021
Foreseen End Date: 31-12-2021
Direct Dismissals: 285

Additional Information

The Fast retail group, which owns the clothing brands, 'Comptoir des Cotonniers' and 'Princesse Tam-Tam', has announced a reorganisation with the closure of 24 Comptoir des Cotonniers shops, which should lead to 217 job cuts. 
The other brand 'Princesse Tam Tam' would also be impacted with 7 shop closures and 68 job cuts. In addition, 50 'corners', that is sales areas in department stores, will be closed, including all points of sale located in the Printemps and Galeries Lafayette department stores. 

The Comptoir des Cotonniers and Princesse Tam Tam brands have been experiencing difficulties for several years and despite the efforts already made, the situation has continued to worsen' says the management in its press release. 'Both are very strongly impacted by the crisis in the clothing market and have been strongly affected by the repeated social and societal upheavals of recent years'.

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