Liberty dresses, cashmere sweaters, tweed jackets… The children’s fashion brand Bonpoint, ultra premium and synonymous with elegance in families, is changing hands and falling into the fold of the Chinese giant Youngor Group. The French luxury family group EPI, owner of the label since 2007, which also owns the JM Weston shoe brands and Heidsieck champagnes, is saying goodbye to the wardrobe of child models. And pocket a nice jackpot. According to The Letterthe amount of the transaction is estimated at 200 million euros for double-digit profitability.
Under the leadership of Christopher Descours, president of EPI, Bonpoint has transformed itself into a ready-to-wear star for wealthy toddlers. In 17 years, the store network has tripled to include 130 points of sale in 30 countries, including around thirty in China, the engine of development. And this, despite stratospheric prices! You will have to pay 230 to 350 euros per item, on average. Not enough to discourage an elitist clientele, seduced by the artisanal heritage and the image of French luxury. Enough to arouse desire, obviously.
50% of sales made in Asia
But who is this new Chinese investor who has set his sights on this French brand? Listed on the Shanghai Stock Exchange, Youngor Group specializes in real estate and high-end men’s ready-to-wear, with the Youngor and Mayora brands. His ambitions in luxury fashion are not new: he has already invested in Alexander Wang, Helly Hansen and Undefeated. With revenues flirting with 2 billion euros in 2023Youngor sees in Bonpoint a golden opportunity to develop the brand in Asia, which already represents half of the 150 million euros in turnover. He thus intends to capitalize on the chic and artisanal heritage of the French brand. And the Asian middle classes, increasingly fascinated by French luxury brands, represent an untapped source of growth.
The interest of Chinese groups in French brands is not new. Sandro, Maje, Claudie Pierlot, and even Club Med have already fallen into the hands of investors in the country. And Bonpoint probably won’t be the last to succumb to this trend.
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But why has EPI Holding, for its part, decided to turn the page? Contacted by Capitalthe Bredin Prat law firm, specializing in mergers and acquisitions, which advised EPI in the context of this sale, did not wish to respond to us. But several hypotheses emerge. The discreet group was able to judge that its development potential in mature markets had reached saturation. Or perhaps it considered itself too small to further conquer Asia, a demanding and ultra-competitive terrain. Finally, it is impossible to ignore the context: fashion in France is going through a crisis, with serial liquidations. Even if premium brands are more resilient, the storm threatens. Even if it means casting off, it’s better to do it before the wind changes.
