Read on FashionNetwork.comIKKS Group's Future Hangs in Balance as French Court Delays Decision to December 12
The Paris Economic Activities Court has postponed its crucial decision on the future of French premium fashion brand IKKS until December 12, 2025. The company, which entered receivership in October, faces multiple takeover bids from various retail players. With 550 outlets across nine countries and approximately 1,300 employees at stake, the court's upcoming ruling will determine the fate of this established French fashion group and its workforce.
The future of French premium fashion brand IKKS remains uncertain as the Paris Economic Activities Court has postponed its decision on takeover bids until December 12, 2025. The court reviewed multiple offers during a November 28 hearing but opted to delay its ruling, leaving employees and stakeholders in suspense about the company's direction.
Background of the Receivership
IKKS was placed in receivership at the beginning of October 2025, following months of efforts by its main owners—US investment groups Avenue Capital, CarVal Investors, and Marathon Asset Management—to sell the company. The French fashion group had established a significant international presence with 550 outlets across nine countries by the end of 2024, including 230 affiliated stores and approximately 1,300 employees worldwide.
Takeover Bid Landscape
The initial field of approximately a dozen takeover bids has undergone significant refinement in recent weeks. French retail players presented various proposals focusing on partial takeovers of assets, inventory, store networks, and staff retention. According to FashionNetwork.com, several bidders have improved their offers substantially as the December 12 decision date approaches.
Key Revised Offers
The bid led by Santiago Cucci, current chairman of HoldIKKS, and Michaël Benabou, co-founder of Veepee, represents one of the most significant improvements. Their revised proposal now includes taking over 219 points of sale in France—comprising 92 directly operated stores, 27 Galeries Lafayette corners, and 100 affiliated stores—with plans to retain 546 employees across the directly operated scope. This marks a substantial increase from their initial offer of 141 points of sale and 391 jobs.
Meanwhile, Faguo has enhanced its bid from focusing on 13 stores to proposing the takeover of 15 stores for €200,000, which would preserve 30 jobs. The Brittany-based Beaumanoir group, which initially supported Faguo's bid to acquire IKKS brands and five stores, remains in contention, though specific details of their improved offer haven't been publicly disclosed.
Withdrawn and Ongoing Bids
The competitive landscape has narrowed with Verdoso, owner of The Kooples, confirming its withdrawal from the bidding process. Other remaining contenders include Pimkie shareholder Amoniss, BCRI (recent buyer of Café Coton), and AA Investments, which owns Bonne Gueule, L'Exception, and Smallable. These entities continue to refine their proposals ahead of the court's final decision.
Employee and Industry Implications
The delayed decision creates additional uncertainty for IKKS employees who have been awaiting clarity about their employment futures since the company entered receivership. The various takeover bids present different scenarios for store operations and workforce retention, with employee representatives having reviewed the refined offers in recent days. The fashion industry watches closely as the outcome could signal broader trends in French retail consolidation and premium brand acquisitions.
As the December 12 decision date approaches, stakeholders across the French fashion sector await the court's ruling that will determine whether IKKS continues under new ownership or faces alternative restructuring paths. The outcome will not only affect the company's 1,300 employees but could also influence future investment patterns in the French premium fashion market.
