Beaumanoir Strengthens Position in Fashion Market with Naf Naf Purchase

Beaumanoir expands its portfolio. The French fashion retail group, owner of brands such as Cache Cache, Morgan, Bonobo and Bréal et Scottage, has absorbed part of the business of Naf Naf, the women’s ready-to-wear company that had been in bankruptcy proceedings since May. As explained by the French giant, the decision responds to its strategy to build a comprehensive offer through a series of “varied but complementary” brands.

This operation, for which the figure has not been disclosed, involves the acquisition of the Naf Naf brand , which became an icon of accessible fashion during the 80s and 90s in France. “Naf Naf, recognized for its cult slogans and pop and colorful style, is still very much anchored in the hearts of the French,“ Beaumanoir said during the announcement.

In addition, the group will absorb around 300 employees, out of the total of 600 employees currently employed by the company, and a dozen stores, out of the entire commercial network of 102 Naf Naf stores. Of these numbers, the stores will be converted to accommodate other of the group’s brands, while Beaumanoir will keep 55 jobs directly, and relocate the rest.

Beaumanoir will control the Naf Naf brand, as well as part of the staff and its commercial network

The acquisition of Naf Naf puts an end to the insolvency proceedings filed at the end of May. The women’s fashion brand, until now owned by the Turkish textile group Migiboy Tekstil, had been experiencing liquidity problems since the pandemic, particularly related to non-payment of rents.

In less than ten years, the company has changed hands four times, a reflection of the instability of the fashion industry in France, most recently in 2023, when the company was also in bankruptcy proceedings, which led to the entry of Migiboy Tekstil.

Beaumanoir, meanwhile, has emerged as the winner of the bidding that has surrounded this latest Naf Naf bankruptcy process. With more than 2.3 billion euros in sales in 2023 and 15,000 employees, the group operates 445 Cache-Cache stores, 378 Bonobo, 333 Bréal, 174 Morgan, 240 Vib’s, in addition to the new Boardriders and Jennyfer poles.

The financially solid position of the group has been, in fact, what has led it to be able to close the deal, in which other players such as the Amoniss group, parent company of the Pimkie brand, also expressed interest. According to La Vanguardia, the court in charge of the case, however, rejected the proposal of the company, which is undergoing a restructuring process.