French Vivarte Group specializing in the development of clothing and footwear brands, including André, Minelli, Naf Naf, San Marina, Caroll ..., and in a financially dire situation, sold one of its shoe factories in Champignol in France, writes Les Echos.
At the time of the sale, the number of enterprises was 147 employees. The factory specializes in the production of shoe blanks, the production volume of which in 2015 amounted to 315 thousand pairs. Of these, the most expensive model was sold for about 110 euros, while the vitality of the enterprise could be ensured by a price of at least 275 euros per pair, the French newspaper writes.
The production, modernized in 2005, suffered a serious blow from competing Asian enterprises. In January 2015, the Group put up a factory for sale valuing it at 12 million euros. The German industrial holding Hanse Industriekapital was the most persistent bidder.
The buyer, who completed the acquisition of the first asset in France, intends to continue the strategy of producing high-quality shoe products. Vivarte, for its part, guarantees its former factory a gradually decreasing volume of orders for three years, a condition that will allow the factory to eventually switch to an autonomous existence.
Hanse Industrial Capital GmbH German industrial holding company, which is engaged in the reorganization, acquisition and management of small and medium enterprises in Europe. The company specializes in the acquisition of unprofitable industrial enterprises, their reorganization and the creation of conditions for further successful development.
French Group Vivarte owning fashion brands La Halle, Caroll, Kookaï, Chevignon, Naf Naf, shoe brands Minelli, San Marina and other brands, as we wrote earlier, recently also announced the sale of its shoe brand André, whose retail chain comprises 135 stores and the brand of clothing Naf Naf. At the moment, the group's debt is 1,5 billion euros, while Vivarte's revenue in 2016 is 2,2 billion euros.