The businessman Stéphane Courbit, at the head of LOV Group, always has an appetite.
He entered into exclusive negotiations to acquire Ladurée, the famous manufacturer of macaroons since 1862. Belonging to the Holder family (which also owns the Paul bakeries), the tea room brand needed to strengthen its equity.
For several months, its owners had been looking for a partner.
A transaction could be completed by the summer.
Read also:
Ladurée ready to welcome a new shareholder
The Covid-19 crisis has accelerated discussions.
The absence of tourists, combined with the temporary closure of shops, caused a spectacular drop in Ladurée's activity: turnover has lost two-thirds of its value, falling to less than 50 million euros. last year.
The losses were around 10 million euros, according to the magazine
Challenges
.
As long as global tourism does not pick up, it will suffer.
With LOV Group, Ladurée joins a company that wants to
"strengthen its presence in the luxury sector"
.
Created in 2007 by Stéphane Courbit, the family holding company brings together majority interests in audiovisual production (Banijay), online games (Betclic) and luxury hotels (LOV Hotel Collection).
The latter activity, in which LVMH Investissements owns 17% of the capital, aims to create a collection of Airelles branded hotels.
There are already five, in Courchevel, Val-d'Isère, Gordes and Saint-Tropez.
Two - in Courchevel and Gordes - are classified as palaces.
A sixth will open in the gardens of the orangery of the Palace of Versailles.
In Paris, LOV Hotel competed for
the location of the Place de La Madeleine, ultimately won by Fauchon.
By buying Ladurée, Stéphane Curbit has acquired a network of 107 stores in 22 countries.
In addition to the famous macaroons, the brand sells pastries, savory specialties, delicatessen, but also make-up, candles and perfumes.
Synergies are possible with LOV Group hotels.
