Description:

Vivarte is France’s leading footwear and apparel specialty retailer and ranks sixth in Europe, with more than 60 million pairs of shoes and 50 million articles of clothing sold every year.

Long established in unique downtown locations through its André shoe store chain, the company also pioneered the development of an extensive network of suburban footwear and clothing outlets.

Today, its major brands include La Halle!, La Halle aux Chaussures, André, Minelli, San Marina, Pataugas, Kookaï, Naf-Naf and Caroll.

Key financials:

Vivarte reported revenue of €2.97 billion in the fiscal year ended August 31, 2009, with footwear accounting for 50% of the total and apparel 50%.

Investment background:

After joining PAI Partners in taking Vivarte private in 2004, Sagard reinvested alongside Charterhouse Capital Partners in the retailer’s secondary LBO in March 2007. This latest transaction is intended to support the continued expansion of the Vivarte chains through a combination of organic growth and acquisitions in their host countries of France, Spain and Switzerland.

Management:

Georges Plassat, Industrial Advisor to Sagard, is the President of Vivarte and is supported by a strong management team that he has worked with for many years.

Sagard’s position:

Sagard owns a 7% stake in Vivarte, acquired in March 2007 alongside Charterhouse (the majority shareholder), company management and Chequers Capital.