Behind Coperni, are other French brands about to lower their shutters? Marine Serre, Vaillant Studio, and Charles de Vilmorin in troubled waters

The silent wave of closures hitting young French labels shows no signs of slowing down. Last week, following months of negotiations, Coperni shut down its operations due to financial difficulties and a standoff with its majority shareholder, Tomorrow. In its wake, several iconic brands on the Paris independent scene continue to fight for their financial survival. Behind the weakening -and in some cases, total cessation- of these independent fashion houses lie deep structural issues. Broadly speaking, the wholesale crisis has dealt a severe blow to cash flow. Payment delays and insolvencies among major online multi-brand retailers and department stores have heavily impacted these independent houses. To top it off, the rigidity of the traditional fashion calendar -which enforces a six-month gap between collection presentations and their actual commercial availability- is delivering a knockout blow to labels that were otherwise well established in the industry.

Under receivership, Marine Serre searches for investors

Marine Serre, founded in 2017 shortly after winning the LVMH Prize for Young Fashion Designers, is undergoing the most severe accounting crisis of the group. Placed under court-supervised receivership on July 7, 2026, following a formal declaration of insolvency on May 11, the company faces total liabilities of €7.45 million -essentially everything it owes- more than half of which is immediately due, despite generating revenue in excess of €15 million.

The brand's troubles manifested in a net loss of €3.1 million for the 2025 fiscal year, accompanied by payment injunctions from suppliers starting in late 2025 -including a Portuguese footwear manufacturer claiming over €78,000. Facing a gradual loss of retail clients, the designer was forced to pull out of recent Paris Fashion Weeks. To stabilize its position, the brand is actively seeking new investors while ramping up commercial partnerships, such as its recent sportswear capsule with Under Armour featuring its signature crescent-moon logo, as well as a collaboration with the Louvre Museum.

Receivership as a potential fresh start for Vaillant

Meanwhile, Vaillant Studio, founded in 2020 by designer Alice Vaillant, was placed under receivership by the Paris Commercial Court on June 2, 2026, with insolvency established as of May 19, 2026. The company has been granted an observation period extending through December 2, 2026, to put together a plan to secure its future.

Although the brand enjoys significant media exposure and high-profile endorsements from figures like Lady Gaga, Kylie Jenner, and Lisa from Blackpink, it is paying the price for having no flagship retail stores and limited visibility among stockists. The most recent available accounts filed in 2024 showed a revenue of around €550,000 against a net loss of €288,000 -a situation exacerbated by repeated payment delays from retail partners like SSENSE and Farfetch.

To maintain brand momentum while seeking new partners, Vaillant continues to present collections on the official Paris and New York calendars. At the same time, the house is transitioning toward a "see now, buy now" model, selling pieces immediately after runway presentations to generate quick cash flow.

Charles de Vilmorin: End of the brand, but not the designer

The case of Charles de Vilmorin stands somewhat apart: although his company has entered judicial liquidation, he continues to create under his own name. Formerly the creative director at Rochas and renowned for his colorful, theatrical, baroque universe, the designer restructured his business in the summer of 2024 by founding Studio Charles de Vilmorin to replace his original entity, CDV.

Following the unexpected cancellation of his Haute Couture show scheduled for January 2025 due to major internal shake-ups -and two years without a new collection under his own label- Studio Charles de Vilmorin was placed into judicial liquidation on June 11, 2026, having declared insolvency in late 2024. However, this administrative closure has not stopped the designer from pursuing personal projects. Charles de Vilmorin continues to develop brand partnerships and capsule collections - such as projects with La Redoute and theater costume design- while preparing a comeback under a new structure. A situation worth watching closely.

This wave of legal proceedings highlights the central challenge facing independent fashion today: the sheer difficulty of converting high brand visibility and cultural impact into long-term financial sustainability. In an industry shaken by the breakdown of traditional retail channels and lengthening payment cycles, prestige alone is no longer enough to guarantee survival. The future of these Parisian talents now hinges on their ability to fundamentally reinvent their business models -whether by pivoting toward direct-to-consumer sales, securing backed financial partners, or adopting agile presentation formats like "see now, buy now." One thing is certain: the fashion calendar will not wait, and the coming weeks will reveal which houses can truly navigate their way out of the storm.