The company producing shoes under the brand JB Martin, whose retail chain has more than 400 stores, has encountered financial difficulties and is looking for a buyer. Bankruptcy proceedings were introduced at the enterprise by a court order for six months, LesEchos.fr reports.
JB Martin produces premium women's shoes. The annual turnover of the enterprise is 40 million euros, the headcount is 265 people. According to the managers, the company suffered from weak retail sales in the brand chain of stores. Models of the brand are sold in 400 company stores, as well as in 40 corner stores in department stores in France. Some of the shoes produced by the shoemaker in an annual volume of 800000 pairs are sold through multi-brand online stores.
In 2016, the company acquired another 5 boutiques of Eden Shoes, in the process of its liquidation. This transaction led to the creation of large drains and worsened the already weak financial position of the enterprise. JB Martin also owns third-party brand licenses, including Kenzo.
JB Martin is owned by the French holding company Alter Finance, but the owner does not intend to invest in support of his shoe business. For many years, the group does not produce shoes at its own enterprise in the city of Fougeres. The factory was closed in 2009, then the company had to lay off 70 employees. Currently, shoes under the JB Martin brand are produced in Asia, Brazil, some of them are in Europe (in Italy, Portugal and Spain). In Russia, shoes under the JB Martin brand are represented in the network of premium shoe stores Rendez-Vous.