Doubts over brand’s future prompt stockists to cancel orders as Asian investor mulls retail-only move.
Women’s young fashion brand Miss Sixty looks set to disappear from the UK wholesale market, with many stockists reporting they have been forced to cancel their spring 13 orders.
The future of Miss Sixty’s parent company, Italy-based Sixty Group, which also owns the Energie and Killah brands, has been under scrutiny since early September, when it emerged that the company was in discussions with its Asian investor, Crescent HydePark, regarding its fate.
Now a source close to the situation has told Drapers that Miss Sixty will not continue as a wholesale brand, and many stockists said they have cancelled their spring 13 orders as they don’t expect to receive them.
“Wholesale is finished for the brand,” said the source. “I think the investors will keep it [Miss Sixty] going but only as a retail business, with production coming from Asia.”
There has been no production or distribution of any of Sixty Group’s brands from its headquarters in Chieti, central Italy, since September.
“I was just speaking to someone [at Miss Sixty] on Monday, and they said we weren’t going to be getting any more stock in and to be honest we were lucky to have received any stock at all recently,” said the owner of one young fashion indie.
“They said they are looking to concentrate on retail sales rather than wholesale in the future.”
One branded multiple retailer added: “We’ve cancelled all of our spring 13 orders as we were told we wouldn’t get any deliveries.
“From what I’ve been told, they [Crescent HydePark] are basically stopping the European wholesale operation. It looks like they will take it all in-house in Asia and only manufacture for their own stores.”
Drapers also understands that key members of the Sixty Group wholesale team based in the UK have left the business and will not be replaced.
Both Daniela D’Aveni, the group’s UK sales director, and Dario Esposito, UK sales manager for the Energie brand, are thought to have departed and replacements have not been announced.
“I know Dario’s gone and Daniela’s gone,” said the source from the multiple retailer. “That’s definitely a sign that they are winding things down here.”
Another indie stockist added: “I’ve heard on the grapevine that some people from the UK wholesale team are jumping ship. I suppose for them it looks like it’s time to get another job.”
In addition to the UK changes, about 400 jobs at the group’s headquarters in Chieti are thought to be at risk.
Sixty Group could not be reached for comment as Drapers went to press.
The group’s six UK stores will continue to trade.