The Pepe Jeans Group wants to reposition itself – and focus more on online trading. That is why up to 50 stores worldwide are closing. The plans for this existed before Corona.
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The parent company of the brands Pepe Jeans or Hackett London, the “All We Wear” group (AWWG), wants to close up to 50 stores in the USA, Mexico, India, Japan and also in Europe. The company is currently negotiating rent payments with some landlords. If that does not succeed, the shops would have to be closed – with around 500 shops worldwide, one in ten.
The plans are part of a digitization strategy that was developed before the Corona crisis. The pandemic is now accelerating this plan.
Like other retailers, the AWWG experienced a sharp drop in sales due to lockdowns in many countries. However, online trading is booming, which is why the fashion company wants to concentrate more on it.
In addition to the store closings, the US business will be given up completely, according to AWWG. The Hong Kong offices were also closed.