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Agatha jewelry bought by the Thom et Altesse group

2021-03-01T19:22:37.537Z


The French jewelry brand Agatha, which had been placed in receivership in November, was bought on Friday by the Thom group and Renaissance Luxury group via its subsidiary Altesse, we learned from buyers on Monday. Read also: Agatha jewelry stores in bankruptcy The amount of the purchase has not been communicated nor the conditions for the takeover of the 400 employees and 120 shops that the Agat


The French jewelry brand Agatha, which had been placed in receivership in November, was bought on Friday by the Thom group and Renaissance Luxury group via its subsidiary Altesse, we learned from buyers on Monday.

Read also: Agatha jewelry stores in bankruptcy

The amount of the purchase has not been communicated nor the conditions for the takeover of the 400 employees and 120 shops that the Agatha brand had when it was placed in receivership last year.

The Thom group (Histoire d'Or, Marc-Orian, TrésOr, Smizze) and Renaissance Luxury group (Altesse, les Georgettes, Texier) wish to restore,

"to this emblematic brand of French jewelry, its letters of nobility and its influence in France and internationally, ”

according to a press release sent to AFP.

"We are convinced that by working as a team, we will make Agatha a new brand leader in its market thanks to distribution channels that must become powerful again"

, assure in this joint press release Eric Lefranc of Renaissance, president of Renaissance Luxury group and Romain Peninque, CEO of the Thom group.

Eric Lefranc will chair and manage Agatha, while Romain Péninque will chair its supervisory board.

Recovery plan

"Several million euros will be invested for the relaunch of Agatha",

according to the press release which does not however specify the amount.

The recovery plan of the two groups proposes

"four priority levers"

: to assume a French DNA, to develop a powerful distribution network by finding a point of balance between the own points of sale and the presence in independent jewelers, to ensure a strong presence on the net and develop the brand internationally (Asia and Europe).

Agatha, who owned and operated 120 stores, was placed in receivership in early November.

The company Seize, operator of the brand's distribution network, had justified its current difficulties by the arrival of competitors on the market, in particular online sales.

Its shops, recognizable by their midnight blue storefront, have also suffered from the health crisis and, before that, from a

“very tense”

social context in France

, due to the demonstrations of the

“yellow vests”

or against the pension reform, according to this company based in Aubervilliers.

A loss of 11 million euros in turnover

The Agatha group of 400 employees had a turnover of 60 million euros in 2019. But its results were weighed down by a loss of more than 11 million euros that same year.

Founded by Michel Quiniou in 1974, Agatha has forged a path between low cost jewelry and luxury jewelry, with the desire to make her creations - including her famous modular jewelry - accessible.

The Thom group, present in France but also in Italy (Stroili, Franco Gioielli), in Belgium (Histoire d'Or) and in Germany (Oro Vivo) operates in more than 1,000 stores and employs 5,000 people, including 2,500 in France.

Altesse markets its own brands "Les Georgettes" and "Saunier" in France via Galeries Lafayette and Printemps, but also via a network of 1000 jewelers and retailers and websites.

Source: lefigaro

All business articles on 2021-03-01

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