Young fashion brand Naf Naf will close its UK operations in March, after failing to hit its turnover targets.
The brand, which has more than 130 wholesale accounts in the UK, will honour its spring 08 deliveries, but will not trade for autumn 08.
Head of UK subsidiary Nicole Lawson blamed the closure on financial and product difficulties. “Even though Naf Naf is a successful global business, the French styling of the product doesn’t translate well to the UK market and the division hasn’t performed well,” she said.
She added that Naf Naf needed more department store business to reach its turnover targets, as 95% of its UK business came from independents, which kept reducing their orders.
“We increased our department store business over the past two years, but buyers struggled to know where to place the product. It could sit alongside other French brands like Tara Jarmon on style, but not on price. It was too unreliable to work solely with small independents,” she said.
Lawson, who has been with the business for two years, is among the six members of staff who will be made redundant in the London office. Naf Naf will continue to operate in the Republic of Ireland, which accounts for 43% of its turnover.