Roseanna: the takeover bid of a trio of investors chosen over Sézane

Placed in receivership early November 2022, the Parisian women's fashion brand has been looking for a buyer. Two offers were being considered. On December 30, the Paris commercial court ruled in favour of an offer made by a trio of investors made up of Christel Dagher Hayeck, Jacques-Edouard Sabatier and Edgard Bonte. Bonte was chairman of Kiabi from 2010 to 2018 and then of Auchan Retail until 2021. He is a member of the Mulliez family and the cousin by marriage of Roseanna's founder, Anne-Fleur Broudehoux.

"This is a new beginning for Roseanna, one that is based on continuity and a solid foundation. My position as creative director and president of the brand is strengthened. The structure remains independent, and I am also lucky to be associated with the capital of the new entity Rosa sas," Anne-Fleur Broudehoux told FashionNetwork.com.

The takeover bid accepted by the court included 22 employees, the head office, stocks, as well as one of the brand's own boutiques on rue Froissart in Paris (out of the four units it operated) and three corners in the capital's department stores, for a total price of €325,000 (excluding goods).

Alongside Bonte, currently managing director of ELO (the Mulliez family's holding company for Auchan Retail, Nhood and Oney), Dagher Hayeck is an investor and managing director of the import-export company Soeximex, while Sabatier created the start-up Jow and manages the investment company Bold. On the other hand, Barbara Quaranta, who has been the managing director of Roseanna since 2018, is leaving the company to pursue personal projects. This position will be filled in the coming months.

"Our trio united around around Anne-Fleur: we were seduced by the quality of the company (its sales are in continuous growth), and by its offer that makes sense and that has met its public. The company promotes a unique style and a responsible approach. We are going to capitalise on everything that has already been created," says Dagher Hayeck. "The difficulties encountered by the company are similar to a growth crisis, as it is still on the right track."

According to our information, the joint offer of the three entrepreneurs was matched by the rapidly expanding women's brand Sézane, which like Roseanna has a premium positioning, with a 'contemporary chic' style. Morgane Sézalory's label, which saw the Bettencourt family's fund, Téthys Invest, take a stake in its capital in September 2022, planned to continue the Roseanna brand online - leaving aside its boutiques - by keeping 17 of its 27 employees. It planned to spend 300,000 euros for this, without acquiring its stocks.

For Anne-Fleur Broudehoux, it was "very pleasant to feel the interest of many investors, and to benefit from two solid offers. The Sézane project was exciting, the business model was more in line with the digital channel". But it implied a discontinuity, and the end of wholesale.

Founded in 2007, Roseanna - which produces the vast majority of its clothes in Europe - had opened several shops in Paris just before the pandemic, at the end of 2019, which weighed on its accounts. The brand was also struggling to repay its state-guaranteed loan (PGE) and 2022 was not the year it had hoped for to recover (Omicron and the war in Ukraine having slowed down the activity). The brand's capital was previously divided between several shareholders, including a family structure and investors including Bpifrance but also Dan Arrouas from Vog Group.

According to the call for tenders published as part of the procedure, the company generated an annual turnover of 5.7 million euros (financial year ending March 2022), with a net loss of 973,000 euros. In addition, nearly 150 multi-brand retailers also distribute its products. The wholesale channel represents 50% of the brand's activity, compared to 25% for retail and the same amount for online sales.

In 2023, Roseanna's new owners intend to "consolidate its fundamentals", with an omnichannel approach at the heart of the project. The brand has growth targets for digital, wholesale and points of sale. "The retail ambition remains intact", says Dagher Hayeck, who plans to open stores in 2024, particularly abroad.

Roseanna: the takeover bid of a trio of investors chosen over Sézane

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