Pepe Jeans to close 50 stores worldwide
All We Wear Group (AWWG), formerly Pepe Jeans Group, is to push ahead with its previously announced “Re:set” transformation strategy, with initial plans to close 50 stores worldwide.
In a statement, the group announced: “AWWG Group launched the Re:set transformation plan in January. This programme has been accelerated and adapted due to COVID-19 to address the company’s new needs.”
The move is expected to result in the closure of about 10% (50) of stores in locations including Europe, USA and India.
The group owns fashion brands including Pepe Jeans and Hackett London, as well as licenses for Tommy Hilfiger and Calvin Klein in Spain.
The company is yet to confirm the breakdown on store closures, with only two stores operating in the UK currently - Carnaby Street and Icon Outlet at The O2.
According to the brands recent statement, online sales at the group have doubled over the past six months, with its brands “gaining momentum” in all territories.
Last month, the brand confirmed it would transfer its central offices in Madrid to new facilities in November, with a total area of 4,500 square meters and the capacity to house up to 350 employees.
The new building, with open and flexible spaces, is in line with the renewed corporate image that the group presented in July 2020.