Diesel USA, Inc. filed a voluntary petition for relief under Chapter 11 which provides an opportunity for companies to reorganize while continuing day to day operations.
The filing is a critical step in enabling Diesel USA to address certain long-term liabilities for a fresh start in the country to build a healthier and stronger new presence for the brand in line with the evolving US retail environment.
This procedure opens the way to a redefinition of the brand’s geographic footprint in the United States, a strategic roadmap that will include some important steps in 2019, such as closing, refitting and reviewing most of its retail store network, and making sure the retail footprint meets the needs of the existing consumer and of new ones; strengthening its e-commerce presence and increasing its commitment to innovation; and a series of key wholesale partnerships to give resonance to Diesel’s collections and special products, with tailored buying and distribution activities for each project.
For 2019 Diesel is planning several new experiences in North America’s key influential cities such as New York, Los Angeles and Miami, where a number of pop-up stores will open with special themes to drive product exclusivity, fuel equity, social amplification, drop culture and fashion credibility.
The company remains fully committed to the US market, a unique and fundamental window to be an important player globally.