2023-10-16 03:00:31
Eight months after the dismissal of the 680 employees of San Marina, the 550 employees of Minelli are dying. The shoe brand, owned by Laurent Portella and Stéphane Collaert, was placed in receivership on September 28 by the Marseille commercial court. The two shareholders were also associated within the San Marina brand, which was liquidated and permanently closed in February. Messrs. Portella and Collaert are throwing in the towel again: they will not present a continuation plan for Minelli, a company taken over in 2021 from Vivarte, whose turnover reached 75 million euros in its last financial year, compared to 113 million in 2019. The judges of the Marseille commercial court have therefore opened a takeover plan. Candidates must submit their offer by November 8. But a global takeover of Minelli and its 102 stores is very uncertain. The state of the market is discouraging.
Shoe sales reached 8.9 billion euros in 2022 in France. “Over the first eight months of 2023, they increased by 1%. But taking into account 3% inflation, in the sector, the evolution is negative”, specifies Dorval Ligonnière, director of studies for the Federation of Footwear Brands (FEC). Activity for the month of September was very mediocre: − 9% among shoes, according to the specialized trade federation, Procos. The summer weather which dissuades the French from buying boots is not the only cause. Market trends are “misdirected”according to the FEC.
Because inflation has been ruining the purchasing power of the French since 2022 and forcing them to give up buying new pairs. Even Nike and Adidas are affected. Until now flourishing, the French sneaker market, estimated at 4.5 billion euros, is running out of steam. Sales volumes are stable, at 83 million pairs sold in one year, at the end of June, according to the market research institute Circana. “We must see an impact of inflation: the sneaker market is contracting, after growth of 30% over five years”underlines Hélène Janicaud, director of fashion studies at Kantar Worldpanel.
“No more shoemakers in the city center”
But, even if sneaker sales slow down, these ill winds are first sweeping away the dress shoe specialists. Shortly after San Marina, André almost disappeared. In May 2023, following its second receivership in three years, the Belgian Optakare took over 21 of its 49 stores. “There will soon be no more shoemakers in city centers and shopping centers”, analyzes Boris Saragaglia. The founder of the online sales site Spartoo himself failed to relaunch André, despite the 17.3 million euros that Vivarte had granted him during its sale in 2018.
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