MONTREAL – Lingerie and swimwear retailer Boutique Vie en Rose plans to expand Bikini Village stores across Canada and abroad after reaching a contract to buy the insolvent swimsuit chain.
\”Bikini is really a strong name and we will build a national chain with this division,\” said La Vie en Rose CEO Francois Roberge, who added he paid less than $4 million for the company which he previously tried 3 times to buy in the last 12 years.
About 300 jobs is going to be preserved, but half of the 50 head office jobs will be lost because it merges the headquarters of the two companies.
La Vie en Rose intends to keep 48 of Bikini Village\’s stores in Quebec, Ontario, New Brunswick and Nova Scotia, but will close four outlet locations in Quebec.
After stabilizing the business, the new owners plan to work on adjusting the merchandising at the retailer in time for the fall cruise season.
The changes are designed to restore annual sales to around $50 million in the current degree of $34 million.
It will focus on a Canadian expansion, particularly in Western Canada, enhancing the number of stores to about 70 to 75 over the next year to 1 . 5 years.