The Galeries Lafayette put a hand on Mauboussin

The Galeries Lafayette group will take control of the jeweller Mauboussin. The distributor has signed an agreement with the man of affairs Dominique Frémont, th

The Galeries Lafayette put a hand on Mauboussin

The Galeries Lafayette group will take control of the jeweller Mauboussin. The distributor has signed an agreement with the man of affairs Dominique Frémont, the owner of the house of jeweller Mauboussin since 2002, to take a majority stake. The group associates in the transaction with Alain Némarq, current CEO of the jeweller, who will remain in control of the company, and with the fund Mirabaud Asset Management. Together, they take 100 % of the capital of Mauboussin.

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last march, Alain Némarq had indicated that it wished to resume at least part of the participation that Dominique Frémont wanted to sell. He quickly found a partner. Over the past fifteen years, under the direction of Alain Némarq specifically, Mauboussin has known a very strong development in establishing itself as an affordable brand, and premium. The company has developed a distribution network built of 75 shops in France and twenty abroad. The SMES today employs 200 employees and a turnover of nearly 80 million euros to more than 10 million euros of gross operating surplus (Ebitda).

The Galleries Lafayette, which achieved € 4.5 billion of retail sales, consider that Mauboussin goes very well with their activity Great Stores. The group is a distributor of products from jewelry and watch, of course. But he also has the marks Guerin Jewellery and Royal Quartz in this area. The distributor has the financial means to conduct such an acquisition. It was forced in 2012 to sell its 50% stake in Monoprix, which was acquired by the Casino group, which gave him some financial comfort. Many operations followed, including a decision to participate (12.9 per cent) in the Crossroads, in 2014, or the acquisition of La Redoute, the last year.

Updated Date: 14 July 2019, 00:00

Kathleen Lees

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