Written on 5 June, updated on 4 August 2026
However, the decline of department stores did not come out of the blue. For years, these department stores have been struggling to compete with the rise of e-commerce, aggressive discount platforms such as Temu and Shein, and direct-to-consumer brands.
Below is a recent timeline regarding Coin:
Following the closure of the Grugliasco branch, near Turin, which is due to close as early as January [2025], a further seven long-established stores are set to close during the year: Roma Lunghezza, Roma Bufalotta, San Donà di Piave (VE), Latina, Vicenza, Milano City Life and Sesto Fiorentino (FI). The closures will affect a total of 92 employees.
- April 2025: Coin saved by the Italian government
My comment was: to me, this is a political manoeuvre that fails to take account of the reality of the situation: department stores are like dinosaurs, facing extinction due to e-commerce and the costs of their premises: rents that are far too high, amongst many other factors, including: often obsolete facilities, with major access difficulties and challenges in receiving and storing goods.
I say this as a former Coin tenant, drawing on my experience with QB Mercato e Cucina, which I mentioned in my book *Le Ossa dei Caprotti*.
The following have subscribed to the capital increase, totalling €33.2 million: Mia, the holding company of the Exelite group owned by entrepreneur Marco Marchi, for €10.75 million; Invitalia, for €10 million; Sagitta Sgr, for a total of €10,986,085; Joral Investments, for €1 million; and Hi-Dec Edizioni, for €500,000.
Strangely, no member of the Board of Directors appears to have any experience in retail.
- June 2026: a further capital increase and the arrival of Mango in the shops.
Unfortunately , Mango – which is a sound company – does not acquire a stake by buying into the company: after all, given the circumstances – a loss of 35 million for the year 2025 and three further closures – it was predictable that there would be no ‘white knights’ willing to save Coin, whose brand seems destined to fade away slowly but inexorably.
P.S.: It is hard to imagine that the 1,300 jobs will be safeguarded , and indeed the workers – who are not stupid – have called a strike.
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