Fast Retailing Explores Market Alternatives for Comptoir des Cotonniers and Princesse tam tam

Fast Retailing is reportedly finalizing the details of its plan to file for bankruptcy of Comptoir des Cotonniers and Princesse tam tam, two brands with strong roots in French retail that for years occupied a prominent place in the collective imagination of the national ready-to-wear and intimate apparel . As Modaes had advanced last February, the Japanese group had thrown in the towel with its French brands. After having progressively and significantly reduced its investment and interest in the chains in recent years, the alliance now seems to be coming to an end.

The proceedings will be filed this Friday, June 20, with the Commercial Court, according to the French media outlet Fashion Network. The bankruptcy would affect both companies, which have been integrated since September 2024 into a single legal entity, Fast Retailing France: Fast Retailing France. This administrative restructuring allowed to consolidate its operations, although it did not include Uniqlo, the flagship of the group, which operates in France under an independent structure based in London.

Comptoir des Cotonniers and Princesse tam tam were acquired by Fast Retailing in 2005, at the height of both brands' growth. The former, founded in 1995 by the Elicha family in Toulouse, enjoyed a golden decade with its casual chic approach and communication campaigns based on the mother-daughter bond. The second, created by sisters Loumia and Shama Hiridjee in 1985, positioned itself as an alternative to classic French lingerie, with a young offer of underwear and swimwear.

Both brands have gone through successive restructurings in recent years. In 2018, 2021 and again in 2023, the Japanese group tried to clean up its accounts through social plans and point-of-sale closures. The last major restructuring involved the closure of 55 stores and the elimination of 185 jobs in total between the two brands. Today, Comptoir des Cotonniers and Princesse tam tam have around 90 company-owned stores in France. Abroad, the brands are mainly present in Uniqlo's flagship stores.

Fast Retailing gives up on Comptoir des Cotonniers and Princesse tam tam twenty years later

In 2024, the management of Fast Retailing France announced a new attempt to relaunch both brands through a 30% price cut and a repositioning towards the young public, especially female consumers between 25 and 35 years old. The strategy included closer ties with Uniqlo, through shared capsules and corners within some of its stores. However, the new approach has not been enough to turn the tide.

Fast Retailing's decision to activate bankruptcy proceedings signals a change of direction in the Japanese group's strategy: to stop financially supporting its loss-making subsidiaries in France, just when the group is reporting record results on a global scale. In the first half of its 2024/25 fiscal year, Fast Retailing raised its net profit by 19.2% to 233.5 billion yen ($15.9 billion) and posted a 12% rise in sales to $12.3 billion.

The French fashion retail sector is going through a turbulent time. Since the liquidation of Camaïeu in 2022, several traditional chains have gone into receivership or liquidation. Jennyfer and Café Coton have seen their assets liquidated, while Naf Naf and André are still in bankruptcy proceedings. The possible collapse of Comptoir des Cotonniers and Princesse tam tam would be a further symbolic and industrial blow to the French fashion business, which is increasingly under pressure from changing consumer habits, inflation and competition from fast-fashion giants.