After On March 29, bankruptcy proceedings began against the French luxury shoe brand Clergerie.On June 14, a new owner of the brand will be appointed by a court decision, writes Shoe Intelligence.
The court was supposed to make this decision on May 24, but postponed it for three weeks to give potential investors an opportunity to improve their proposals. Three companies showed interest in buying Clergerie: Belgian Optakare, which also acquired 21 French shoe retailers André, Tunisian businessman Philippe Sayada, and California shoe company Titan Industries.
Clergerie has been losing money for several years. Founded in 1981, the brand was sold in 2011 by designer and founder Robert Clergerie to First Heritage Brands, a Hong Kong-based investment fund for the Fung family. In 2020, the French Legacy Group, which is part of the Swiss company Mirabaud Asset Management and its subsidiary Mirabaud Patrimonie Vivant, became the new owner of the Clergerie Group. The latter planned to relaunch the brand but failed to materialize, leading the luxury footwear brand to file a lawsuit for protection.
clergy owns a factory in the French region of Romans-sur-Isère, employing 60 craftsmen, and 12 separate stores in France, Brussels, Geneva, Switzerland, Los Angeles, London, Madrid, New York and Tokyo. The brand's products are also represented in leading department stores around the world. Clergerie shoes use wood and raffia, two materials that compensated for the shortage of leather during World War II and became the hallmark of the French brand.