Stores in Belgium, the Netherlands and Germany are all expected to see the brand’s exit.
Hunkemöller has become the latest brand to fall victim to the ongoing effects of the global pandemic and although last year the brand announced that it would be undergoing a worldwide expansion plan that would see the brand operating 1400 stores, the lingerie chain has now announced that it will likely to stick to around 950 stores.
Despite the announcement of this news, the brand still intends to enter some new markets including Russia, this means that those markets which have become saturated particularly the Netherlands, Belgium and Germany will see store closures. The plans at the moment are to concentrate on enhancing the most profitable shops.
The brand also intends to speed up its e-commerce offerings.