Retail group Vivarte has finally sold its French fashion brand Kookaï, which it had put up for sale in the summer of 2016. The brand is now part of Australian Magi, which has been the brand’s local master licensee for 26 years.
Vivarte restructuring
“We want Kookaï to develop and reach its potential, which is why Vivarte will sell the brand to family business Magi”, Vivarte said in a press release. Kookaï, founded in France in 1984, has been part of Vivarte since 1996 and generates a 76 million euro annual turnover. Its target audience are women between twenty and fourty years old, but it added a collection for younger girls in 2008.It has now been sold to Magi for an undisclosed fee.
Vivarte still has brands like Besson, Minelli, Carroll and CosmoParis in its portfolio and used to own Naf Naf and André, which it sold in January. The company has struggled to keep its turnover levels up and to limit its losses. In August 2014, it had to buy out 116 debtors for an astonishing 2 billion euro.
