The society Bayardan iconic men’s ready-to-wear brand born in 1925 in Villeurbanne next to Lyon and whose head office has been located since the beginning of the 2000s in Quetigny in the Dijon metropolitan area has been in receivership since 2023. Under the aegis of the commercial court of Dijon this Friday, June 28, 2024, it is launching “a public offer to search for buyers”. She now has three months to find one or more financial partners to help her get back on track. The situation is worrying “but we can do it” wants to believe Laurent Vigneron general director and shareholder of Bayard MDSA.
The effects of the health crisis are still being felt
The difficulties of this company which sells jackets, coats and everything necessary to dress men date back to the health crisis. Bayard which manufactures two thirds of its products in France, Europe and the Mediterranean basin, finds itself in the same situation as many companies in the sector since the health crisis. Covid-19 has reduced its turnover from 22 million euros in 2019 to 18 today and its market, the French market, is at half mast.
A tour of France to meet employees
At the head office in Quetignyin the 25 boutiques across France such as the one on rue des Forges in Dijon Employees are informed of the group’s difficulties, explains Laurent Vigneron. “We shot an emergency video on Tuesday evening (June 25, 2024) as soon as we left court, I broadcast it, we also organize video conferences to which all employees can connect, the aim is to allow them to react, comment, ask questions about the company, their store and of course questions about their personal situation, next week I will start a tour of France to visit all the stores.”
“Together we can get through this” Laurent Vigneron CEO of the Bayard group
It is Laurent Vigneron himself who requested protection from the commercial court and placed his company in receivership in 2023. If the first discussions with the 120 employees are rather mixed, a major brand like Bayard who had as “muses” artists like Serge Gainsbourg, Claude Francois or Johnny Hallyday can’t die. “Yes, the first exchanges show concern, but yes, we also see that there is great confidence in what we are doing, great belief in what we are and in what the brand has been initiating for over a year now. I am also extremely satisfied today to have these echoes, because when you announce this kind of information that is not very positive for employees who live in stores every day and you have this kind of feedback, it feels good and it reinforces the fact that together we can get through this.”.
The creation of new stores and corners as a lifeline
It is precisely to get out of it that Bayard which boxes in the same category as brands like Armani or Hugo Boss is looking for one or more financial partners. The aim is to return to the 20 million euro turnover mark, which would make it possible to attract new customers by doubling the number of boutiques and corners in department stores across France. The important thing also lies in digital communication which must help the brand to go beyond its brand image of the 70s “so that Bayard can resume the cycle that is his” press again Laurent Vigneron who hears “to increase the company’s visibility on the market, on networks, and to enable us to reach 100 years”. “There are risks that every manager and every shareholder must know how to take, it is simply a matter of saying ‘I need outside help’, that is to say financial help to enable this turnaround and the rest of the story for the brand but also for the 120 employees who work on this subject.”
Bayard MDSA
The very real risk of liquidation
What will happen if one or more investors do not come forward within three months? The boss is very clear: “the worst he said that is to say a total liquidation even if certain messages are sometimes difficult to hear”. For the moment the business manager has some contacts but they are insufficient. Small hope for the company since last winter the brand with 25 boutiques and numerous corners in the centers of several large cities has reopened stores. In July 2023, its turnover even increased by 10%, explains Laurent Vigneronbut it therefore needs money to support this new momentum and find new markets by increasing the number of points of sale in France from 25 to 50 within three years to get the machine going again.
Bayard MDSA
