PARIS – Paule Ka has changed hands again. Thierry Le Guénic has just acquired the French ready-to-wear brand worn by Jacqueline Kennedy Onassis, Audrey Hepburn and Grace Kelly, according to a decision handed down by the Paris Commercial Court.
The transfer price was around 1.1 million euros, including 500,000 euros worth of inventory.
Le Guénic heads up Burton Capital SAS, which over the past 18 months has made numerous investments in the fashion space, including in Maison Lejaby, Burton of London, Cosmoparis and Chevignon.
Burton Capital and PK Holding were the two candidates vying to take Paule Ka over after it entered into receivership on Oct. 27, 2020.
The brand had not been given the necessary funds for a relaunch by Matthias Thoma, who manages Rodexia, which purchased Paule Ka from Xavier Marie’s Compagnie Marco Polo group in June 2020.
Compagnie Marco Polo became Paule Ka’s owner in 2017. Marie initially brought back the label’s founder, Serge Cajifinger, on a one-year contract to help improve the business, then hired Maxime Simoëns to take over creative direction, though he departed following just one season.
After serving as its creative director and chairman since 1987, Cajfinger left the brand in 2014.
In 2020, Paule Ka’s sales were expected to reach 21.2 million euros, down 41 percent on-year, and its earnings before interest, taxes, depreciation and amortization to be negative, at minus 11.7 million euros. A return to profitability is foreseen in 2022, according to the court documents.
For more, see:
Matthias Thoma Outlines Plans for Paule Ka
Paule Ka RTW Spring 2020
Paule Ka Taps Maxime Simoëns as Artistic Director
Source: Read Full Article