French clothing brand Manoukian will cease to exist. Its French-American owner, BCBG Max Azria, will shut down the brand in 2014, according to union leader Arnaud Pichot talking to AFP, a press agency. In the meantime, another 175 French employees will be dismissed.
Founder Alain Manoukian gave the brand its name in 1973, but its decreasing popularity led to losing an important contract with Carrefour.
BCBG Max Azria had bought the
brand in 2005 and has been trying to reorganize it for the past three
years. Cutting jobs in 84 stores and with the French distribution centre
will leave 175 people unemployed, continuing the previous steps towards
downsizing. In 2011, 837 people were employed by Manoukian, while only
655 people were present in 2012.
The company is now looking into having its leases taken over by other brands, hoping that the staff can remain as new brands move into its Manoukian stores.
Manoukian has stores in France, Belgium, Germany, Switzerland and Spain