Folli follie group news

Folli Follie Group is a Greek luxury jewelry and watch brand that has been in the news for various reasons. Here are some recent updates:

Financial Troubles: In 2020, Folli Follie Group faced financial difficulties, including a significant decline in sales and profits. The company was forced to restructure its debt and implement cost-cutting measures to stay afloat.

Bankruptcy Filing: In June 2020, Folli Follie Group filed for bankruptcy protection in Greece, citing debts of over €1 billion. The company's creditors agreed to a debt restructuring plan, which allowed the company to continue operating while it reorganized its finances.

New Ownership: In August 2020, a group of investors led by the Greek businessman, Andreas Vgenopoulos, acquired a majority stake in Folli Follie Group. The new ownership aimed to revamp the brand and restore its former glory.

Rebranding Efforts: Under the new ownership, Folli Follie Group has been working to revamp its brand image and product offerings. The company has launched new collections and collaborations with international designers, aiming to appeal to a younger audience.

Store Closures: In 2020, Folli Follie Group closed several stores in Greece and abroad, as part of its efforts to reduce costs and focus on its most profitable locations.

Digital Expansion: Despite the challenges, Folli Follie Group has been investing in its e-commerce platform, expanding its online presence and offering customers a wider range of products and services.

Recent Developments: In recent months, Folli Follie Group has been focusing on its sustainability efforts, launching initiatives to reduce its environmental impact and promote social responsibility.

These are some of the recent news and updates about Folli Follie Group. If you're looking for more specific information or updates, please let me know!