Six candidate buyers for La Redoute

Six candidate buyers for La Redoute

French luxury group Kering, formerly PPR, is giving six candidate buyers access to the books of La Redoute, the final distribution brand still on display. CEO François-Henri Pinault is expecting concrete offers by September.

“Three investment funds, three industrials”

According to Pinault three investment funds and three industrial groups have shown interest to take over La Redoute. Those six will have time until the middle of July to study the books and they can make an offer until September. Pinault is positive the deal will be done before the end of the year.

 

The numbers of the e-commerce company however are not that good: because of the crisis and bad weather La Redoute is said to have made a loss of about 25 million euro over the past six months. Less than two months ago the company announced it was seizing all activities in Germany and Austria. The French group, which started as a mail-order company back in 1928, can no longer fight off the competition from pure players such as Zalando.

 

Unions: “No takeover by company from sector”

In talks with the unions CEO Pinault said he is "not expecting a big cheque", but he did promise he would personally look into the takeover. The unions urged Pinault to sell the company to an industrial partner that is complementary, rather than a company from the sector (e.g. 3Suisses). They fear La Redoute will be completely gobbled up and that it will eventually disappear.

 

Following the recent public offering of Fnac, La Redoute is the final distribution channel of PPR, which recently changed its name to Kering, that is still looking for a buyer. Earlier Kering already sold the American and Scandinavian branch of Redcats and its French chains Vertbaudet and Cyrillus. In the future Kering will focus completely on luxury, sporting goods and lifestyle.

Questions or comments? Please feel free to contact the editors


Will free home delivery disappear?

15/12/2017

A growing number of online orders also brings additional pressure on the logistical industry. Free home delivery can no longer be maintained according to research company ECC Köln. More flexible options should be installed.

Amazon brings its private labels to Europe

14/12/2017

After it introduced Amazon Prime to an increased number of European markets, Amazon is now bringing in its own FMCG private labels. Over the past few weeks, the online department store launched several private label products in Europe and it has plans for even more. 

Amazon Echo is now available in the Benelux

11/12/2017

Amazon announced it will ship its smart speaker Amazon Echo to another 28 countries, including Belgium and the Netherlands. Its own music streaming service will also get a local launch.

Luxury manufacturers can block retailers from selling on Amazon

07/12/2017

Luxury product manufactures can block retailers from selling their merchandise on online marketplaces like Amazon. The European Court of Justice has ruled on the matter after cosmetics manufacturer Coty filed a complaint.

Surge in mobile sales during Thanksgiving weekend

29/11/2017

During Thanksgiving weekend in the United States, which contains Black Friday and Cyber Monday, there was a big surge in mobile sales. Those two days saw a total sales figure of almost twelve billion dollar (just shy of ten billion euro).

Alibaba reveals its high-tech store of the future

24/11/2017

Amazon Go’s automated supermarkets have not yet arrived, but Alibaba already has its answers ready. The Chinese online retailer has showcased Tmall Supermart, filled with technology: from virtual fitting rooms to facial recognition.

Back to top