France: Naf Naf partially acquired by Groupe Beaumanoir

Iconic 1990s womenswear brand Naf Naf, which was in receivership, has been partially acquired by Groupe Beaumanoir (Caroll, Bonobo, Cache Cache, Morgan, Sarenza, etc.). The acquisition was confirmed on Thursday in a court decision seen by AFP.

Groupe Beaumanoir has proposed to retain around 300 of the brand’s current 600 employees, according to the same document. The group will also take over 12 of the existing 102 shops, but will operate them under its own brands.

Naf Naf was placed in receivership last May due to "cash flow difficulties", as noted by the Bobigny Commercial Court (Seine-Saint-Denis) in its decision.

Of the five bidders, two had seriously positioned themselves to partially take over Naf Naf: the Amoniss group, owner of Pimkie; and Groupe Beaumanoir. Amoniss proposed to take over 185 employees and redeploy 26, according to the decision.

On Thursday, the court rejected Amoniss’ offer. This was due to Amoniss being "under a safeguard plan since October 2024". This presented a "financial fragility", while Groupe Beaumanoir enjoys a "solid financial situation". The court detailed this as "positive equity of 365 million euros" and "cash of 187 million euros".

Specifically, Groupe Beaumanoir is taking over 55 employees and offering redeployment to 253 of them. The brand has been in difficulty for several years and has undergone three successive receiverships.

In June 2024, after a previous receivership, Turkish buyer Migiboy Tekstil committed to saving 90 percent of jobs and keeping around one hundred shops. At the time, the company offered more than 1.5 million euros to take over the French brand.

In doing so, the Turkish company saved 521 out of 586 jobs and around one hundred shops in France. It also took over the subsidiaries in Spain, Italy and Belgium.

This article was translated to English using an AI tool.

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