Few fashion labels have managed to capture the attention of the luxury industry quite like Coperni.
From its futuristic designs and celebrity following to viral runway moments that have put its creations in the global spotlight, the Parisian brand quickly established itself as one of fashion’s more recognizable emerging names.
Worn by celebrities including Kylie Jenner, Rihanna, Gigi Hadid, and Doja Cat, the label became known for its experimental approach to fashion. One of its most memorable moments came when Bella Hadid walked the runway in a white dress that was spray-painted directly onto her body during a live presentation.
But behind the brand’s growing popularity, financial difficulties and an increasingly complicated ownership dispute were creating mounting challenges for the business.
Now, after months of uncertainty and failed efforts to resolve the dispute, Coperni is bringing its operations to an end.
Coperni shuts down operations
Coperni SAS has announced that it is ceasing operations, ending the French company’s 13-year presence in the fashion industry after failing to reach an agreement with its distributor and majority shareholder, Tomorrow Ltd.
Co-founders and creative directors Arnaud Vaillant and Sébastien Meyer said they had been unable to resolve an ongoing dispute involving unpaid amounts allegedly owed by Tomorrow. According to the founders, the company had stopped paying licensing fees, leaving Coperni without the financial resources needed to continue funding its operations.
In a statement posted on Coperni’s Instagram, the founders detailed their efforts to preserve the business and resolve the dispute.
“Over the past few months, we have tried to preserve Coperni and find a resolution to the conflict with our shareholder and distributor, Tomorrow,” said Vaillant and Meyer.
“Despite all our efforts, no solution could be found. It is with profound sadness that we announce today that Coperni SAS is ceasing operations.”
The announcement follows months of uncertainty surrounding the label’s future, including attempts by its founders to regain control and find a potential buyer.
Coperni’s ownership shifts and financial struggles
Trouble within Coperni’s business became increasingly evident earlier this year when the company canceled its Fall/Winter 2026 fashion show at Paris Fashion Week.
In March, Progetto 11, which operates the luxury fashion e-commerce platform The Level Group, acquired Tomorrow. The transaction was followed by the departure of the previous management team, including Tomorrow founder and CEO Stefano Martinetto.
Following the ownership change, Vaillant and Meyer began attempting to buy Coperni back from Progetto 11, seeking to regain control of the label amid growing financial difficulties.
Here’s some of my previous coverage of luxury closures:
- Harvey Nichols closes more stores as others are rebranded
- Gucci owner closes over 128 stores with more to come
- 79-year-old retailer closes 95 stores, shuts down a brand
In June, Coperni filed for redressement judiciaire in France, a court-supervised restructuring procedure designed to help financially distressed businesses continue operating while addressing their debts.
The restructuring provided the company with an opportunity to continue operating while addressing its financial difficulties and the dispute with Tomorrow. The founders accused the distributor of failing to pay the company’s suppliers and business partners for months.
During the restructuring process, Coperni reportedly attracted three acquisition offers in October.
According to the Paris Commercial Court registry, the offers came from AA Investments, which valued the brand at €10,000; private investor Victor Bughin, who offered €400,000; and Philippe Sayada, who made a valuation of €2, Modaes reported.
However, none of the proposals resulted in an acquisition deal, leaving the company without a buyer to help secure its future.
Part of the complexity surrounding the dispute stems from Coperni’s corporate structure.
The business operated through two entities: Coperni UK Limited, a holding company associated with the licensing agreement with Tomorrow, and Coperni SAS, the main French operating company responsible for day-to-day operations and employing the brand’s teams.
Tomorrow acted as a licensor and distributor across its portfolio of brands, collecting revenues and paying royalties to individual labels based on their respective agreements.
The arrangement meant that the relationship between Coperni and Tomorrow was central to the brand’s financial operations, making the dispute particularly difficult to resolve.
Although Coperni SAS is now ceasing operations, the announcement does not necessarily establish that the Coperni name or its intellectual property can never return under different ownership.
Coperni’s popularity could not offset declining sales
Founded in Paris in 2013 by Vaillant and Meyer, Coperni built its reputation around ready-to-wear clothing, accessories, and futuristic-inspired designs.
The label gained international recognition through its experimental runway presentations and distinctive accessories, particularly its Swipe Bags, which became popular among celebrities and fashion enthusiasts.
Its ability to generate viral fashion moments helped establish Coperni as a recognizable name in the luxury market. However, growing visibility did not translate into sustainable financial growth.
Between 2023 and 2025, Coperni’s global sales fell from €15 million to €10 million. During the same period, its operating income shifted from a profit of approximately €700,000 to a loss exceeding €300,000, Fashion Network reported.
The figures illustrate how Coperni’s financial performance deteriorated as its sales declined, with the company moving from operating profitability to an operating loss.
Despite its celebrity following, international recognition, and high-profile runway moments, Coperni ultimately struggled to maintain its financial position while navigating an increasingly difficult relationship with its distributor and shareholder.
The company’s struggles come as the global fashion industry faces a challenging business environment.
McKinsey & Company’s State of Fashion 2026 Report projects low-single-digit growth for the sector in 2026, with macroeconomic volatility and tariff pressures continuing to influence consumer behavior. As shoppers become more cautious about discretionary spending, fashion companies face additional pressure to maintain sales and profitability.
The failed acquisition negotiations and unresolved ownership dispute have now brought the company’s current operations to an end, marking a significant development for a fashion label that once appeared to have considerable room for growth.
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