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


Arket Brussels opens: discover H&M's latest concept

14/09/2017

On Friday 15 September, H&M Group’s new store formula opens its doors on the Guldenvlieslaan in Brussels. The press got a sneak preview and discovered a surprising mixture of fashion, interior design and food. 

Nordstrom opens store without storage

13/09/2017

American fashion chain Nordstrom is to trial a new store formula in Los Angeles next month, in which customers will only be able to get advice and try out clothing. Purchases can be picked up at the store at a later date.

Primark benefits from weaker British economy

12/09/2017

Irish fashion chain Primark takes full advantage of the weak British economy, which prompted its parent company AB Foods to adjust its full-year forecast. The chain will also continue its expansion plans.

Participatiemaatschappij Vlaanderen invests in FNG

11/09/2017

Government investment fund Participatiemaatschappij Vlaanderen (PMV) will invest 15 million euro in fashion group FNG in return for 5 % of its shares. The money will go towards international expansion.

Gap Inc will focus on Old Navy and Athleta

08/09/2017

American fashion company Gap will alter its internal strategy and turn its attention to Old Navy and Athleta. Gap and Banana Republic, which both received the most attention up until now, will have to step aside.

Global Fashion Group cuts losses

08/09/2017

Global Fashion Group, the fashion group founded by investment group Kinnevik and Rocket Internet, managed to lower its losses even more in the second quarter. On top of that, turnover grew more than 25 %.

Back to top