Fashion
Coperni Shuts Down Amid Dispute With Distributor
French fashion label Coperni has ceased operations following months of unresolved disagreements with its distributor and majority shareholder, Tomorrow. The announcement marks a difficult turn for the brand, founded by Arnaud Vaillant and Sébastien Meyer, after eight years in operation since its 2018 relaunch, having first been founded in 2013.
Photo: Coperni
In a statement released on November 4, the co-founders confirmed that efforts to resolve the dispute had been unsuccessful, citing outstanding payments owed to the company. Reflecting on their time at the label, they described the experience as extraordinary and expressed gratitude to the industry figures, retailers, buyers, press and collaborators who had supported its development.
Photo: Coperni
Despite the closure, Vaillant and Meyer indicated that they intend to remain active in fashion. They spoke of their continued interest in innovation and expressed optimism about pursuing new creative projects.
The dispute had been developing for several months. In June, a Paris court granted Coperni protection, allowing the brand to enter judicial reorganisation proceedings as it sought to address its financial difficulties.
Photo: Coperni
At the time, Vaillant explained that the company had been awaiting payments from Tomorrow, which handled its distribution and held a majority stake in the business. Coperni also confirmed that Tomorrow had terminated its licensing agreement with the label.
Photo: Coperni
The situation became more complicated after Tomorrow was acquired by Progetto 11 in March. The Italian holding company, which also owns e-commerce platform The Level Group, took over the business as questions surrounding Coperni’s ownership and financial position remained unresolved. Following the acquisition, Vaillant and Meyer sought to regain control of their label.
Photo: Coperni
Progetto 11 subsequently described the business as already facing disagreements over ownership and governance when it took over. It also pointed to funding difficulties and the cancellation of Coperni’s planned fashion show as part of the challenges it inherited.
The financial arrangement between Coperni and Tomorrow had also become a source of tension. Tomorrow collected revenue from wholesale sales across its portfolio and paid royalties to the brands it represented. It was also responsible for reimbursing certain operational expenses, including fashion shows and campaigns. However, Coperni alleged that these payments and reimbursements had stopped as Tomorrow’s wholesale business encountered difficulties.
Photo: Coperni
Those challenges were reflected in Tomorrow’s financial results for 2024. Its turnover fell by 34 per cent to £8.4 million, while gross profit margin dropped from 76 per cent to 41 per cent. Operating losses also increased by 28 per cent to £7.5 million.
Signs of the wider financial strain had emerged earlier in the year when Coperni cancelled its Autumn/Winter 2026 show at Paris Fashion Week. Another Tomorrow-backed label, Martine Rose, also faced production difficulties in March, announcing that it could not produce its forthcoming collection due to circumstances beyond its control. However, Tomorrow later clarified that the brand’s Fall 2026 collection would go ahead.
Photo: Coperni
The announcement confirms that Coperni SAS, the brand’s main French operating company, has ceased operations. However, it does not establish the long-term future of Coperni itself. Vaillant and Meyer have expressed interest in pursuing new creative projects, leaving open the possibility of further developments for the label.