Le Pain Quotidien buys back "its" 29 Belgian stores

Le Pain Quotidien buys back "its" 29 Belgian stores

Belgian sandwich chain Le Pain Quotidien has bought back the franchise rights to the 29 stores it has in its home country. For 25 years, they had been under control of several Dutch franchisees.

In Belgian hands again, after 25 years

The chain may have its main office in New York, but the chain was founded in Brussels, still operates according to Belgian law, is run by a Belgian CEO and has Belgian shareholders. Despite all these Belgian influences, Le Pain Quotidien did not own its own Belgian stores, which were controlled by Dutch franchisees and divided under ten subfranchisees themselves.

 

That situation has now changed: "After 25 years, the 29 Belgian stores, including the very first in the Dansaertstraat in Brussels, will return to the nest", CEO Vincent Herbert told business newspaper De Tijd. "It would have been a disgrace if we did not leap at the opportunity to get our own brand back. Imagine Starbucks buying the rights to exploit the Belgian stores..."

 

Not much will change for the 10 sub-franchisees: they will simply become full franchisees and maintain full control over their stores.

 

"Several millions"

No precise information was revealed about how much the shareholders (including CEO Vincent Herbert, founder Alain Coumont and former A.S. Adventure chief Emiel Lathouwers) had to pay for these 29 stores, but the CEO did confirm the sum went into the "several millions". The shareholders paid for the acquisition out of their own pocket.

 

Le Pain Quotidien currently has 232 stores in 17 countries, worth 375 million euro in turnover, and employs some 7,000 people. The chain seeks to add 1 or 2 stores per year in Belgium, with a sizeable expansion abroad also on the table.

Questions or comments? Please feel free to contact the editors


Zalando's growth once again surpasses 20 %

10/08/2017

German Zalando has achieved its 20 % growth target for the second quarter, but just barely. It still forecasts a 20 to 25 % growth for its full fiscal year.

Gucci files lawsuit against Forever 21

09/08/2017

Fashion label Gucci has decided to file a lawsuit against fashion chain Forever 21 in the United States. The case revolves around several pieces of clothing, all with a blue-red-blue or green-red-green ribbon. 

Ralph Lauren outperforms expectations

08/08/2017

Fashion label Ralph Lauren’s first quarter was a very good one, as it beat both analysts’ turnover and profit forecasts. It is quite a turnaround for a company that suffered a huge loss only a year ago.

Difficult first quarter for New Look

08/08/2017

British fashion chain New Look’s past quarter was disappointing with a 4 % turnover drop. Its adjusted EBITDA fared much worse, with a 35 % drop.

ING forced to pay Foot Locker compensation

07/08/2017

Dutch ING Bank will have to pay the Dutch and European Foot Locker branches 300,000 euro in damages. A court decided the fee after Foot Locker was scammed for 1.8 million euro in 2015.

Asics opens its largest store yet in London

04/08/2017

Sports brand Asics opened a new flagship store in London, which is also its largest store in the world. Located in Regent Street, the store will bring together its four labels for the first time ever.

Back to top