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Camaïeu to close 135 shops abroad

Camaïeu is preparing to close 135 stores abroad. According to our information, this will concern the countries where the brand has its own network: in this case, Poland, Italy, the Czech Republic, Romania, Hungary and Slovakia. Neither Benelux nor Switzerland, where Camaïeu is present through franchise stores, nor a fortiori France, are therefore affected.

A turnover of around 700 million euros

For the brand, which achieved a turnover of just over 700 million euros in 2018, 85% in France, this decision responds to an imperative need: that of concentrating where the brand is strong. These 135 stores, out of a total of around 900, are therefore expected to lower the curtain by the end of 2020.

A recovery by its creditors in 2019

The underlying idea? Stop dispersing to operate the business transformation as best as possible, under the leadership of Joannes Soënen, president of Camaïeu since summer 2019. It must be said that the brand, which claims to be profitable, nevertheless comes out of a period difficult. Heavily indebted, Camaïeu had been placed under safeguard procedure at the end of 2018, before being taken over by its main creditors, the American investment funds Farallon and Carval, as well as the European fund CVC, at the very beginning of 2019. With , the key, a debt converted into capital and divided by ten.

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