Without finding a buyer, Etna closes stores and keeps shelves empty

According to market reports, the Kauffmans, who also own the Vivara jewellery chain, the family that founded the business would no longer be interested in the industry.

03/11/2022

Closing its stores since last year, Etna is experiencing a sad moment in its physical operation. With an outdated list of stores on its website and no official communication channels, the company still seems to be experiencing abandonment. According to market reports, the Kauffmans, who also own the Vivara jewellery chain, the family that founded the business would no longer be interested in the industry. The new generation, faced with the rise of digital competition, would like to sell the asset, but the apparent buyers were not interested.

Among them, the competitor Tok&Stok, which recently rehearsed an initial public offering. The defection of going to the stock exchange would have stalled an attempt to approach. But the Broadcast found that, above all, the large-store model did not attract the attention of the desired buyer's investors. Tok&Stok is, on the contrary, betting on compact stores and online sales.

Source: Estadão

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