Sales at womenswear retailer Kookaï UK dropped 24.6% in the year to August 27, 2011 while pre-tax losses fell back to £2.5m - a reduction of 23% compared to the previous year.
Turnover at the retailer, a wholly-owned subsidiary of French company Kookaï SA and minority-owned by investor Amery Capital and French parent Kookaï, fell £2.5m to £7.8m down from £10.3m the previous year. Pre-tax losses were £3.3m the previous year.
According to the director’s report in the results filed at Companies House, the business has made changes to its store and concession locations to reflect a more premium positioning and going forward intends to develop its online business.
“The changes to the business have allowed the company to restructure its operations during this financial year,” it said. “The directors are satisfied with the way the restructure was managed and are confident the new measures will make further improvements on its performance.”
Kookaï operates in the UK via one standalone store at St Christopher’s Place in London as well as four concessions in two branches of John Lewis, Selfridges Manchester, De Gruchy in Jersey, and a transactional website.
Kookaï was established in Paris in 1983. In 2006, retail entrepreneur Maurice Helfgott’s investment vehicle Amery Capital formed a joint venture with the Kookaï parent company, which is a subsidiary of the Vivarte Group, in order to run Kookaï UK, buying Kookai out of administration.