The "
black February
" continues for French commerce.
Like those of Camaïeu in October, the employees of San Marina would like to believe it.
But the sky is getting darker every day for the mid-range shoe brand, which has 163 stores and 680 employees throughout France.
The fate of the sign, placed in receivership last September, is suspended on the decision that will be rendered by the Commercial Court of Marseille on Monday morning.
Read alsoWhy the carnage in ready-to-wear is accelerating
The unions are already anticipating the worst.
"
The San Marina stores will definitely close on Monday evening
," firmly supports the CGT.
The information would have leaked during the last Social and Economic Committee of the company.
Contacted by Le
Figaro,
the management of San Marina denies the union rumor but admits that the judicial liquidation of the chain is more than likely.
A winning hitch
Former brand of the Vivarte group, San Marina had been acquired by Laurent Portella, Stéphane Collaert and Thierry Le Guénis, three entrepreneurs specializing in fashion and mass distribution, in November 2019. Also shareholders of the Cosmoparis brand, the duo Portella- Collaert was then offered Minelli (260 stores), another shoe put up for sale by Vivarte in June 2021.
With three leading brands in its team, the tandem intended to revive the French footwear sector, already at half mast on the eve of the health crisis.
"
We can become the leader in women's leather shoes in
France
" proclaimed Stéphane Collaert loud and clear in 2019. The ambitious manager then counted on the "
implementation of economic synergy
", in particular joint negotiations with certain suppliers, to optimize its margins.
In terms of marketing, the “
pep
” of San Marina had to go hand in hand with the “
accessible and more Parisian luxury
” positioning of Minelli.
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Alas, the pandemic decided otherwise.
Affected by the administrative closure of its points of sale, San Marina benefited from a loan guaranteed by the State (PGE), other public aid and a shareholder contribution.
Enough to partially absorb the loss of cash, but insufficient to put the brand back on track.
“
Store investment and renovation plans have been slowed down.
We also have to manage renegotiations, such as those for shopping centers which will not immediately regain the same levels of traffic,
” confided Stéphane Collaert in January 2021. San Marina’s turnover fell by 110 million euros. euros in 2018 - the year of the sale by Vivarte - to 90 million in 2021.
Another blow for the sector
In the wake of the sign's placement in receivership, Laurent Portella and Stéphane Collaert had for a time considered remaining
"minority shareholders within a takeover structure",
before finally backtracking.
The defection of a "
major player in the footwear sector in Brazil"
would have dissuaded the two shareholders from filing an offer, reports
Le Monde
.
As for the other candidates for the takeover, they are just as cautious.
None intends to go further than the recovery of a few stores.
The Valège lingerie brand is thus proposing to take over six stores under its banner - a trifle compared to the chain's 600 points of sale.
If it were to be ratified on Monday, the disappearance of San Marina would be a new blow for the French footwear sector, when we learned last Wednesday that André had been placed in receivership.
Small consolation for Laurent Portella and Stéphane Collaert, the sign should not involve Minelli in its fall.
The "
city
" half of San Marina is doing well, provides management to
Figaro
.
Another notable exception in this context of crisis is the good health of the Éram group (Éram, Bocage, TBS, Gémo, etc.), which has a turnover close to one billion and solid growth prospects for 2023.
