The Kooples, a French ready-to-wear brand founded in 2008 by the three Elicha brothers, changed hands in early 2025 under circumstances very different from a classic transaction. The Verdoso fund now holds the majority of the brand’s capital, following an operation linked to the serious financial difficulties the brand faced under its former owner, the Swiss group Maus Frères.
The Kooples and Maus Frères: a decade of missed opportunities
Before discussing the acquisition itself, the question that deserves to be asked concerns the period that preceded it. How could a brand with a clear positioning (the mixed rock wardrobe, halfway between premium and accessible luxury) find itself in such a deep financial deadlock?
The brothers Alexandre, Laurent, and Raphaël Elicha, sons of the founders of Comptoir des Cotonniers, launched The Kooples in Paris with a differentiating concept: campaigns featuring real couples, a strong image, and a rapidly expanding network of owned boutiques in France and internationally. Growth was sustained for several years.
Maus Frères’ entry into the capital was supposed to accelerate development. The Swiss group, known for its stakes in retail (notably Lacoste), had the necessary financial resources. Field reports diverge on what actually blocked progress: overly aggressive pricing strategy, oversized network, or difficulty in renewing the image in the face of increased competition.
To better understand the origin of The Kooples brand on Wiki FR, one must look back at the family dynamic that shaped the brand’s DNA.
The result is factual: the brand accumulated significant losses, to the point of necessitating a restructuring process.
Acquisition of The Kooples by Verdoso: an amicable procedure, not a classic deal
The term “acquisition” used in the mainstream press masks the legal reality of the operation. According to Le Monde (January 2025), the takeover by Verdoso is part of an amicable resolution of financial difficulties, involving debt restructuring and negotiations with creditors.
This distinction is important. In a classic sale, the buyer negotiates a price with the seller and takes over the business as is. Here, the framework is different:
- The existing debt had to be restructured before the transfer of control could occur, meaning that creditors accepted degraded conditions compared to their initial claims.
- Maus Frères did not sell its stake under normal market conditions, but in a context where the alternative was potentially a harsher collective procedure.
- The Verdoso fund acquired the majority of the capital in a scheme where the primary goal is operational turnaround, not immediate valuation.
This type of operation is common in the fashion and retail sector, but rarely detailed in articles that merely mention a “change of ownership.”
Verdoso: a fund specialized in turning around fashion brands
The choice of Verdoso as the acquirer is not trivial. This private equity fund specializes in the takeover of weakened brands in clothing and distribution. Its model is based on a turnaround logic: operational restructuring, optimization of the boutique network, commercial repositioning.
The available data does not allow for a conclusion on Verdoso’s overall track record in this area. However, the profile of the acquirer sheds light on the probable strategy for The Kooples in the coming months: reducing the number of unprofitable points of sale, refocusing on the most promising markets, and working on pricing positioning.
What this changes for the brand’s identity
A turnaround fund does not manage a fashion brand as a family group or luxury conglomerate would. The priority is returning to profitability, not building long-term image. Decisions are guided by operational indicators: margin per boutique, stock turnover, online customer acquisition cost.
For The Kooples’ customers, this may translate into visible adjustments: streamlined collections, fewer references, a revised promotional policy. The brand may also accelerate its e-commerce efforts, a channel where fixed costs are more manageable than in a network of owned boutiques in Paris or London.
The Kooples after the acquisition: the questions still open
Several unknowns remain regarding the future of the brand under Verdoso’s leadership.
The first concerns the international network. The Kooples had boutiques in the UK, the US, and several European countries. The maintenance of this international presence will directly depend on the performance of each market. A turnaround fund generally does not hesitate to close entire geographical areas if the numbers do not follow.
The second pertains to operational management. The brand has experienced several CEO changes in recent years (Marie Schott, Anne-Laure Couplet), reflecting managerial instability that is not conducive to coherent repositioning. The stability of the management team will be a key indicator of the credibility of the turnaround plan.
The third question relates to the segment itself. The accessible premium, where brands like The Kooples, Sandro, or Maje position themselves, is going through a period of tension. Consumers are increasingly choosing between true luxury and fast fashion, leaving the mid-range in an uncomfortable zone. Verdoso will have to decide on the pricing positioning of The Kooples: move up to strong premium, or embrace a more accessible anchoring.
The acquisition of The Kooples by Verdoso illustrates a phenomenon affecting several French fashion brands born in the 2000s. Rapid growth, driven by a strong concept and an expanding network of boutiques, ultimately collides with the reality of fixed costs and changing shopping habits. The future will depend less on the brand’s image than on the rigor with which the new owner executes its operational plan.