The well-known children’s clothing brand Du similar to the same (DPAM) is having a hard time. DPAM will find itself placed in receivership this Thursday, June 29. Another brand concerned on the same day, Sergent Major, which was notified of a backup procedure. DPAM and Sergent Major, both properties of the Générale pour l’Enfant (GPE) group, are placed in receivership and safeguard proceedings respectively
The group, which employs 2,500 people, said it was “impacted” by “social crises, the Covid-19 pandemic, the energy crisis and inflation” in a statement.
GPE suffered a 100 million euro decline in turnover over the Covid period “due to the closure of stores during the pandemic”, a source familiar with the matter told AFP, according to which the turnover turnover reached 275 million euros in 2022. “The explosion of costs” of electricity, rents and raw materials are also at fault, according to the press release.
“The restructuring plan provides for the closure or sale of around fifty Sergent Major stores and around a hundred at Du similar to the same”, according to the same source. The General Holding for Children (GPE) is not affected by any procedure, nor is Natalys “to date”, the brand with 10 million euros in turnover being “much smaller” than the two others and not knowing “such heavy issues”, she added.
The group announced that it was restructuring and developing its digital strategy, with the aim of achieving 25% of its sales online “by 2027”. He has, to do this, invested 5 million euros, he quantified. It also envisages an “international expansion in new markets (Middle East) and the development of the network of affiliates in France and in Europe (Greece)”.
The GPE group was founded by Paul Zemmour in 1987, the year the first Sergent Major store opened. It then acquired Natalys in 2006 and Du similar to the same in 2016. It has 850 stores in France, Belgium, Spain, Portugal, Italy, Germany, Luxembourg, Slovakia and Switzerland.