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


Alibaba exceeds expectations

17/08/2017

Chinese Alibaba has trumped analysts’ turnover and profit expectations with its first quarter results. Its profit even doubled compared to the year before.

Aldi will home deliver in the United States

16/08/2017

German discounter Aldi is starting one-hour deliveries for online orders in the United States, using startup Instacart. Amazon’s reaction was swift: it will test lockers in which custumers can collect items two minutes after ordering them.

Yoox-Net-a-Porter thrives thanks to mobile surge

03/08/2017

Online retailer Yoox-Net-a-Porter has managed to beat analysts’ expectations in the past fiscal year, thanks to a surge in mobile sales. For the first time ever, these sales contributed more than half of the retailer’s total turnover.

Lidl constructs new distribution center in Venlo

01/08/2017

Lidl will open a new distribution center in Venlo, which will cater its web shop’s customer base. The distribution center is not a Lidl Netherlands project, but apparently an international project.

Amazon places own pick-up lockers at consumers' homes

31/07/2017

Amazon announced The Hub, a system of pick-up lockers that can be placed everywhere. They come in different sizes and can be placed both inside or outside of buildings.

Amazon's profit takes enormous hit

28/07/2017

American Amazon’s profit plummeted in the second quarter and is also lower than what analysts had predicted, despite a 25 % turnover increase.

Back to top