Jennyfer Gets Partial Lifeline From Celio and Beaumanoir Group

Jennyfer is, to some extent, coming back to life. The French youth fashion brand has been partially acquired by the also French Beaumanoir group after having been declared in judicial liquidation at the end of April, in a new attempt to preserve what remains of an emblematic name in teenage ready-to-wear. The operation will save 350 jobs of the more than 1,000 that were at stake and maintain 26 points of sale considered strategic.

"I am convinced that only acquisitions by solid groups, with a coherent ecosystem and adequate resources, can be successful," said Roland Beaumanoir, chairman of the Breton group, which has already carried out previous rescues such as La Halle, Caroll, Sarenza or Boardriders in France (Quiksilver, Roxy, Billabong). With this new integration, the group has saved nearly 5,000 jobs in successive acquisitions.

Founded in 1984 and fleetingly renamed Don't Call Me Jennyfer in a relaunch attempt, the brand had unsuccessfully tried to reinvent itself several times. In 2023, it was declared in liquidation for the first time due to rising costs and inflation. After a workforce restructuring, a new brand identity and a €15 million investment plan, Jennyfer nevertheless failed to reverse the situation. Last April, the Bobigny commercial court ordered its liquidation, noting the failure of all previous attempts at recovery.

By mid-2024, the chain had 220 stores in France and 80 abroad, mainly in Belgium. The company's annual turnover was close to 250 million euros. However, its economic model became unsustainable in the face of declining purchasing power, rising logistics costs and increasingly aggressive international competition, impacted by the landing of low-cost players such as Shein.

The Beaumanoir group will partially relaunch Jennyfer

The group's new strategy involves gradually rolling out the Jennyfer name through its Sarenza ecommerce and, later, integrating capsule collections in the group's physical stores. The idea, according to the press release, is to "win over a younger clientele, complementary to the current brands of the Beaumanoir portfolio," which includes Bonobo, Cache Cache, Bréal and Caroll.

The operation has been carried out in conjunction with Celio, which has taken over seven additional stores and 47 employees, converting the outlets into new double spaces, combining Celio men's fashion and Be Camaïeu women's fashion. Between the two companies, the investment exceeds 2 million euros.

The acquisition of Jennyfer is not an isolated case. In the last year, other French chains such as Naf Naf and André have also been placed back into receivership, accumulating three proceedings in just five years.

The CGT union, however, has denounced the inadequacy of the operation: "More than 600 workers will be out of work tomorrow," lamented the union, which is calling for legislative reform to prevent the emptying of companies through financial set-ups.