On the occasion of the Double 11 Online Shopping Festival
Merchants offer a variety of promotions
But issued in the “Shanghai Bankruptcy Court”
on the WeChat public account
This “Double 11 Special”
It seems a little sad
It is indeed full of memories to kill
It turns out that it is going to push
The Egger brand in bankruptcy proceedings
The pictures are not good, the clothes are also wrinkled, the baby instructions are very simple, since Iger completely closed the online store, this time it reappeared, in a store called “Shanghai Egger Manager Store” ↓
Xiao Guan went to search the store again
It may be after the bankruptcy information is disclosed
Attracted a wave of leaky consumers
Currently, there are only 4 items left in the store
From the price point of view
It was indeed a big sale
And the “Shanghai Bankruptcy Court”
There is also a preview at the end of the article
“Double 11” is only the first one
It seems that there are other brands under Iger as well
Liquidation will also be discounted
Xiaoguan was searched on the website of the Shanghai High Court
Iger filed bankruptcy papers last year
When the term “administrator” is mentioned, everyone knows that this is an enterprise entering bankruptcy proceedings and the insolvency representative has full authority to handle various matters.
In March this year, the Shanghai Third Intermediate Court issued a notice to the effect that “according to the application of Shanghai Luzhou Knitting and Garment Co., Ltd., on October 8, 2019, it issued the (2019) Hu 03 Breaking No. 155 Civil Ruling, ruling to accept the bankruptcy liquidation case of the debtor Shanghai Egger Garment Co., Ltd., and appointing Lixin Accounting Firm (Special General Partnership) as the administrator”, and then a series of creditors after the enterprise entered bankruptcy to declare their claims. Holding creditors’ meetings, etc., took place in June and July this year.
He entered China in 1994
After 2015, it has been in decline
In fact, Iger started as a French company, and in 1994, Iger opened its first retail physical store in Shanghai, and has expanded the market with brands such as ESPRIT. By June 2014, Iger had 3,083 stores in China.
Xiaoguan inquired about fashion websites, many clothing industry believes that Egger, like ESPRIT, was once the enlightener and disseminator of Western clothing fashion culture in the Chinese mainland, and has important significance in the history of the development of China’s clothing industry.
But after 2015, Iger has been in decline. Gradually defeated by fast fashion brands such as Zara, H&M and Uniqlo, in May 2018, French lingerie and apparel retailer ETAM Iger sold three brands of the company’s Chinese ready-to-wear business, Etam Weekend, ES and E & JOY, to a Hong Kong professional investment institution.
Iger who appeared in the bankruptcy administrator’s special price store completely did not have the youthful and bright appearance of the past, a pair of jeans 39.9 yuan, a cotton coat is only a little more than 100, all at a discounted price.
More than Iger
The fashion brands in these memories have faded
ESPRIT: Liquidated on May 1 this year, and the share price was only HK$0.63
In May this year, the fast-moving consumer goods clothing brand ESPRIT successively announced on its official website and e-commerce platform that it would close its stores on May 31 due to the need for brand upgrades, and removed all products.
According to public information, ESPRIT was founded in the United States in 1968 and entered the Chinese mainland market in 1992, and in just five years, ESPRIT has opened more than 300 stores in more than 100 major cities.
In December 2019, ESPRIT’s parent company, Esprit Global, announced that it will establish a new company with a 100 million yuan joint venture with Ningbo Mulsanne Group, and the joint venture company will take over the ESPRIT brand business.
Looking through the annual reports for the two financial years 2018 and 2019, it is found that Esprit Global has a net loss of more than HK$2 billion for two consecutive years. In the capital market, Esprit Global has performed even worse. From its high point in 2007 to the present, Esprit Global’s share price has fallen all the way, down more than 99%, and as of the close of trading on May 14 this year, Esprit Global’s share price is only HK$0.63, becoming a veritable penny stock.
Jeanswest: 1,300 stores closed in January
Founded in 1972, Jeanswest is one of the local clothing brands founded in Australia, well-known products include denim series and maternity series, acquired by Yang Zhao and Yang Xun brothers in the 90s of last century, gradually entered the Chinese market, and once became a popular brand.
As of 2019, Jeanswest has opened more than 2,000 chain stores in 20 provinces in China, but more than 6,000 employees have been laid off, more than 1,300 stores have been closed, and the performance has fallen by 65%, which is the true portrayal of Jeanswest since 2013… Declining performance and successive losses have pushed this former giant down the abyss of bankruptcy.
On January 15 this year, according to the Daily Mail, Jeanswest Australia announced that it had entered a voluntary escrow procedure and began to enter the bankruptcy liquidation stage.
Media also reported that Metersbonwe closed more than 200 stores in 2013 and Semir closed 943 stores in the three years from 2012 to 2015. By the end of 2014, Jeanswest had closed 213 stores Chinese mainland and Giordano 190.
Mention brands like Egger
Evoked including the Xiaoguan office
Many memories of post-70s, post-80s, and post-90s girls kill
“Some people on the Internet say that wearing Egger in high school is such a beautiful thing”
“At that time, there was no ZARA, HM, and Egger’s winter coat was thousands, which was a very high-end dress for girls.”
“Once I did well in the exam, my mother took me to the flagship store of Nanjing Road Iger and bought a coat with a discount of 500 yuan, which was already a very expensive gift at that time.”
“Goodbye, my youth”
Egger, Jeanswest, ESPRIT,
Giordano, Baleno, Semir, Metersbonwe
Popular in memory
Now it’s no longer beautiful
of trendy clothing brands
Do you remember?
Source: Shangguan News