Dec 4, 2017
BCBG Max Azria to withdraw from the Japanese market
Dec 4, 2017
American lifestyle brand BCBG Max Azria announced on Friday that it will be withdrawing from the Japanese market. It will shutter all of its Japanese stores by the end of January 2018.
“At this time, we have taken the decision to withdraw from the Japanese market in order to focus on our American operations,” the brand said via press release. “Therefore, we regret to announce that all BCBG Max Azria stores within Japan will be closed as of the end of January 2018.”
In Japan, the brand operates eight monobrand stores as well as three factory outlets, including upscale locations such as Tokyo's Ginza district, where the subsidiary is headquartered.
The company's decision to cease its Japanese operations follows the liquidation of BCBG Max Azria's French subsidiary in October, after the French court rejected a restructuring and buyout proposal.
BCBG Max Azria entered Chapter 11 bankruptcy proceedings in February 2017, proposing a restructuring that would allow it to maintain retail operations, which was later approved by the court in July. Marquee Brands LLC acquired the trademark rights to the brand; while Global Brands Group took over the US headquarters; stores; stocks; human resources and management.
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