In the dynamic realm of French ready-to-wear fashion, Berenice, the Parisian women’s fashion brand, charts a revitalization course amidst market challenges. Initiating judicial restructuring under the Paris Commercial Court on January 4, 2024, the brand aims to secure financial stability and overcome market obstacles.
This strategic move, transitioning from a previous safeguard procedure, is prompted by Berenice’s need for financial respite, given its ineligibility for state-guaranteed loans. Natacha Basic, the brand’s General and Creative Director since May 2023, expresses confidence in positive indicators and an optimistic outlook for upcoming sales seasons.
Despite winter challenges in its retail network of 35 brand stores, Berenice witnesses a significant 45% upswing in wholesale transactions for the spring-summer 2024 collection with multi-brand retailers. Natacha Basic envisions a brand shift to a «retro cool» wardrobe, diverging from the «bohemian chic» identity, emphasizing intricate designs, and reducing reliance on Asian production.
Plans for a revamped store network, starting with the Rue des Francs-Bourgeois boutique in Paris, align with Berenice’s commitment to its new identity. The brand aims to construct a recovery plan within the restructuring framework, eyeing sales growth driven by the captivating summer collection photographed in Palm Springs, USA.
Presently generating 18 million euros in annual sales, Berenice sets ambitious targets, aspiring to reach 30 million euros by 2026. The brand’s approximately 100 employees prepare to showcase its offerings at the Who’s Next trade show in Paris from January 20 to 22. With a substantial booth, Berenice focuses on attracting new retailers, signaling international expansion, especially in Scandinavia, Germany, and Spain, supported by 18 agents. Explore Berenice’s journey of resurgence and style evolution as it navigates the fashion landscape with determination and innovation.