Approval granted for Venca ERE to initiate layoffs affecting 86 employees

Venca, a Barcelona-based fashion retailer owned by the French group 3 Suisses International, has announced a significant change in its business strategy. The company, which is based in Vilanova i la Geltrú, will be placing a major emphasis on its online platform as a means to increase its business volume.

Prior to the Economic Recovery and Resilience (ERE) process that Venca has initiated, the company had a workforce of 473 people. However, due to a drop in sales caused by the economic crisis and a shift towards an online business model, Venca has seen a drastic reduction in its business volume, particularly in Portugal. As a result, the company has decided to submit an ERE in October 2020, with the aim of dismissing 18% of its workforce, amounting to 86 workers.

The Catalan Government's Department of Enterprise and Occupation has approved Venca's ERE. The company aims for 50% of its business to come from its online platform by 2012. This transition to a more internet-focused business model will see Venca competing directly with online outlets like VentePrivee and platforms like Asos, as well as virtual stores of groups like Inditex online.

Venca's online platform will be a crucial part of its transition, serving as a key focus area for its business growth. The company operates through the company Cifdsa and has set ambitious goals for its online venture. Back in 2009, Venca's turnover was 103 million euros, a 20% decrease from 2008. Despite this decline, Venca remains optimistic about its future online prospects.

The ERE process has been a necessary step for Venca, as it navigates the challenges posed by the economic crisis and the shift towards online retail. The company has justified the sales drop and the subsequent ERE by citing the economic crisis and the shift to an online business model, which caused a drastic reduction in its business volume in Portugal.

As Venca moves forward with its online platform, it is poised to become a significant player in the online fashion retail market. The company's determination and strategic approach to its online venture are sure to make it a formidable competitor in the years to come.