Discounts of up to 85% on this well-known Spanish clothing brand: it's liquidating its entire stock after filing for bankruptcy.

In recent years, many famous faces have tried to diversify their incomes and have tried to succeed in business with their own fashion brands . For many, this business idea has been a success, as is the case with Kim Kardashian and her brand Skims or, more nationally, Slowlove , the slow fashion venture by Sara Carbonero and Isabel Jiménez , which acquired Cortefiel a few years ago.

However, many others have not been so lucky when it comes to making a profit and have been forced into bankruptcy . The latest to declare bankruptcy is Kimoa , the urban clothing brand founded by Formula 1 driver Fernando Alonso , which filed for bankruptcy a few weeks ago after years of red ink.

Quimoalar SL , the company under which this business is managed together with the company Revolution Brands , initiated its bankruptcy proceedings after going to the Commercial Court number 19 of Madrid a couple of weeks ago after recording losses of almost 5.5 million euros since it was incorporated in 2017. Even so, these numbers could be higher, since its accounts are only deposited in the Commercial Registry until 2023.

The assets of the Spanish athlete's clothing store have continued to decline since the year of the pandemic, when figures began to weaken, recording losses close to 3 million euros at the end of the 2020 financial year. Since then, Kimoa had seen its net worth dwindle: in 2023 alone, the company recorded a negative result of 952,728 euros , without ever exceeding the 1.37 million euros annual turnover.

The delicate situation Kimoa is now facing has meant that, in addition to filing for bankruptcy to settle this debt, the brand has also begun liquidating its existing stock of garments it has sold for almost a decade.

This is evident on their website, where all products from the latest collections offer massive discounts of up to 86% . This has led to many of them selling out quickly or even starting to display "last items left" signs, with only a few sizes available.

Among the most discounted products is the collection the firm launched with Aston Martin , the Asturian's current racing team. The brand's website offers sweatshirts, T-shirts, polo shirts, caps, and sunglasses with the British car manufacturer's logo, as well as Fernando Alonso's signature, with discounts of up to 78% .

The urban clothing brand Kimoa was founded in 2017 by Fernando Alonso, who always sought to use his visibility as a professional athlete to boost the company's revenue. In 2018, it was announced that the brand would be the official sponsor of the McLaren Formula 1 team for 2018, which led to a record sales revenue of €1.3 million that same year.

The pilot's temporary retirement, coupled with the 2020 coronavirus pandemic, only catapulted this end. After a year in which more than three million euros in losses were recorded, the Asturian pilot decided to sell 75% of the company to the American company Revolution Brands .

Even so, he has so far retained the remaining 25% stake and continues to serve as the brand's ambassador . The two-time Formula 1 champion continues to appear as the brand's face, particularly in the capsule collection Kimoa launched with the Aston Martin racing team.