The brand Naf Naf acquired by the chinese group in La Chapelle Fashion Co.?

The brand of ready-to-wear women’s Naf Naf (Vivarte) is going to be bought by the chinese group in La Chapelle Fashion Co., that will include all of the shops except one, has it learned Wednesday, January 10, sources in the union. “We announced that The Chapel has entered into exclusive negotiations with Naf Naf and its subsidiaries”, according to these sources, following a meeting with management. The brand Naf Naf, which account 920 positions full-time equivalent, was on sale since march, 2017.

The purchase should be made “at the end of march early April”, said to AFP, representatives of the staff. The group Vivarte has not wanted to comment on in the immediate future.

Naf Naf has about 350 shops (including a fifty franchises and 120 “corners” in department stores) in France and abroad. All will be taken over by La Chapelle Fashion Co., except for one, located on the Champs-Elysées in Paris, currently closed for construction.

The union officials interviewed were surprised by the exclusion of this shop the perimeter of the sale. “This avenue is a showcase. It is a pity that Naf Naf is not left on a location such as the store of the Champs-Elysées,” they regretted.

La Chapelle Fashion Co. includes many brand names, especially well-known in China (The Chapel, Puella, UlifeStyle…), and focuses on “the consumer market for women’s clothing”, according to its website. The chinese group had a total of more than 9,000 points of sale in China in the summer of 2017, can we read there.

“Given the status of Vivarte, we think that the fact that Naf Naf sale is a good thing for investment and for the development of the brand”, have been estimated from the AFP a number of elected members of the staff. “But is that the centre of decision will remain in France or will be relocated in China ?”, are they worried.

Vivarte engaged in a plan of disposals

According to these elected officials, the management has ensured that this acquisition would not have “any legal consequences or social” and that “the conditions of individual and collective labour” would be maintained for employees.

However, they remain concerned about the fate of the nearly fifty employees of NNCS (Naf Naf Chevignon Services), which ensure, in particular human resources functions, accounting and maintenance, and a small portion of works for Chevignon, another brand of the group Vivarte. A transitional agreement should be put in place until the end of 2018 to allow them to continue to work for Chevignon, but then “we don’t know what’s going to happen”, they ponder.

In 2017, Naf Naf has recorded a turnover of 208 million euros. The group Vivarte, which is known for its brand La Halle, Minelli, San Marina, CosmoParis and Caroll, is engaged since several months in a plan of disposals and restructuring. It has seen its revenues decrease by approximately 18% by 2017, to 1.8 billion euros, and recorded a loss of € 305 million.

Vivarte had announced on Tuesday that the brand of shoes André would be bought by the French website online sale Spartoo, with which it has entered “exclusive negotiations”.

By 2017, brands of shoes Pataugas and clothing Kookai had also been transferred by Vivarte, respectively, at the australian of the Magi, and the company Start’Hopps. The Spanish subsidiary of the group, Merkal, has also been sold to a investment funds uk in November.

Last week, the CEO of the group, Patrick Puy, has announced that the brand of shoes Besson was also on sale. Chevignon, a time announced at the sale, will be finally retained by Vivarte, in the absence of satisfactory offer.

(With AFP)

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