Higgins — Sven Voth's post-Snipes fashion chain collapsed within 4 months of opening

Sven Voth built the streetwear chain Snipes into one of Europe's largest sneaker and apparel retailers, with hundreds of stores across the continent. After leaving Snipes in 2024 following a management buyout, Voth — a celebrated figure in German retail — announced a new venture: Panthax GmbH, incorporated in January 2025 and trading as Higgins, a discount-oriented fashion chain targeting price-conscious shoppers.

Higgins was launched with fanfare. The concept was simple — fashionable basics and streetwear-influenced pieces at low prices. Voth opened 10 stores across Austria in late August 2025, with plans to open up to 60 stores per year in Germany from 2027. The Austrian market was a test bed for a rollout that was meant to be rapid.

But sales were below expectations from the first day. Even the back-to-school season and the run-up to Christmas — typically the strongest periods for fashion retail — failed to generate enough revenue. Meanwhile, the stores had required unexpectedly high construction and renovation costs, and fixed costs for rent, energy and personnel drained the company's cash. By December 2025, just four months after the first Higgins store opened, Panthax GmbH filed for insolvency at the Handelsgericht Wien (Commercial Court of Vienna).

All 10 stores closed. The 56 employees were laid off, with wages paid through November 2025. The company owed approximately €1.5 million to 220 creditors. The Germany expansion plan was abandoned. Industry observers noted the gap between founder reputation and retail execution — building a price-discount concept requires ruthless efficiency and scale, not the brand instincts that made Snipes work.