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French label Cop.Copine closes down after 37 years in business
Yet another French label has disappeared from the ready-to-wear market, after a number of brands have been placed in receivership in recent weeks, among them Kookaï, Camaïeu and San Marina. Fashion retailer Cop.Copine, which went into receivership on November 7 2022, will not continue to trade, having failed to find a buyer to take over all its assets.
“In the context of a very tough ready-to-wear market that is undergoing comprehensive change, finding [a buyer] has proved impossible,” the company told FashionNetwork.com. Cop.Copine’s financial situation had been “extremely troubled” for several months.
Various bids for part of the brand's assets were however submitted. One such bid was approved by the trade court in Bobigny, France, on January 31: women's ready-to-wear group Antonelle, which bought French label Un Jour Ailleurs in 2020, has acquired 23 of Cop.Copine’s 48 stores, as well as part of its inventory, which Antonelle will be able to sell within six months. After that date, the stores will be re-branded as Antonelle. The 51 members of staff working in these stores have become employees of Antonelle. The latter operates 72 stores in France, between full-price shops and outlet stores.
Cop.Copine’s other assets, including the headquarters, trademark and remaining stores, will be liquidated in the coming weeks. A job protection plan has been drawn up for some 90 of the label's former employees. The proceedings will mark “the end for our wonderful French label, after 37 years of fashion design characterised by creativity and French expertise,” said Cop.Copine, which was founded in 1986 by the Nédélian family. The label wished to thank its customers “for their support and loyal following over the course of all these years.”
Cop.Copine’s shareholders attempted to relaunch the label at the end of 2020, pushing for a more distinctive brand image, but the effort “didn’t have time to produce an effect despite several million euro in financial support injected by the [shareholders],” said Cop.Copine, which at the time had hired Philippe Gandrillon to head the company.
In 2021, the label generated a revenue of €24 million, according to Gandrillon, and was expected to “reach close to €20 million in 2022, with nearly €10 million in liabilities.” A €5 million state-guaranteed loan then was granted to Cop.Copine, but the first repayments, made in summer 2022, further weakened the company's financial position.
Cop.Copine's headquarters and product development offices are located in Romainville, north of Paris. Design-wise, the label developed a distinctive style over the years, its clothes featuring original asymmetric cuts and layering, as well as printed patterns.
With 1990s and 2000s looks making a strong come-back in the fashion landscape, some Cop.Copine outfits have become directional again, like the signature patterned knitted top. But this revival hasn’t been enough to give a fresh boost to the label’s business.
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