2024-01-17 06:10:46
The Gueydon family, founder of the King Cadeau brand, leader in France in terms of number of toy stores, has once once more become its majority shareholder following ceding control in 2011 to an Italian group, according to a press release published on Wednesday. Kingtoy currently has 380 stores in France, Benelux, Switzerland and Morocco. The brand achieved a turnover of just over 400 million euros in 2023 and employs more than 2,000 employees.
The family story began in 1875 with the opening in Voiron (Isère) by Augustin Gueydon of a bazaar selling hardware but also toys. In 1950, the Gueydon family specialized in the distribution of games and toys. In 2010, then holding 92% of the capital of King Cadeau, the family decided to strengthen its equity by establishing an industrial partnership with the Italian brand Toys Center – which has since passed into the fold of the Italian group PRG Retail Group – which was became a 25% shareholder, before increasing to 51% in 2011.
Aged 61, Philippe Gueydon “still want to work» but considers “a generational handover within three, four, five years» with her daughter Coralie Gueydon, current CSR manager of the group, and the husband of her other daughter, Noam Bouyakoub, current communications and omnichannel marketing manager. The continuation of the family adventure “has a rewarding side» for the one who is “the fifth generation” and which “Grand father [du] grandfather» had launched the adventure in 1875.
On the operational side, the brand indicates that a joint venture – 55% owned by PRG Retail Group and 45% by King Cadeau – was created at the beginning of 2024 to “strengthen their industrial partnership linked to exclusive brands and the relationship with major suppliers on a European scale, with the aim of improving customer relations“. In 2022, the toy market totaled 4.36 billion euros in turnover in France.
1705475995
#Gueydon #family #regains #control #King #Cadeau
