Companies

Minelli finds a new set of owners

Jan 26, 2024 France

The French footwear retailer avoids liquidation by being taken over by three investors. Only a third of the workforce and less than half of the stores will be retained

The news was reported by the AFP news agency, citing a ruling by a commercial court in Marseille. The footwear retailer, now rebranded as Maison Minelli, will be acquired by luxury brands Mes Demoiselles Paris, DS Invest and Union Brothers. However, the investors said that only 213 of Minelli's 600 employees will be retained, along with 47 of its 120 points of sale.

“It’s hard to bear the social consequences, but it was almost compulsory, given the scope of the company and the crisis in the sector”, told Christian Macquaire, representing the trade union CFE-CGC. “Minelli is coming out rather well out of this and we’ll be able to start again from a good base”.

Founded in 1973, Minelli became part of the Vivarte group in 1985, but at the end of 2021, was sold to the businessmen Stéphane Collaert and Laurent Portella, who ran the San Marina footwear brand. However, San Marina was placed into controlled administration at its request in September 2022 and then into compulsory liquidation by the Marseille Commercial Court in 2023, resulting in the loss of around 650 jobs in 163 stores. Minelli went into receivership in September 2023.

This “takeover should enable the brand to retain its place in top-of-the-range fashion”, welcomed the retailer, which mainly focuses on women’s shoes and leather goods. The new owners plan to revamp distribution and strengthen the range of accessories and core products, with a focus on developing Minelli’s brand awareness, particularly in the digital sector.

Source: shoeintelligence.com

Image Credits: sebastien-jupille.com

France Accessories Acquisitions Footwear Liquidation Shoes