Groupe Royer acquires Charles Jourdan
France-based Groupe Royer received the commercial court of Romans-sur-Isère’s backing in its attempt to acquire liquidated luxury shoe firm Charles Jourdan. The courts rejected Costa Rican investment fund Finzurich’s attempts to acquire the firm in November after it failed to make the required payments.
According to reports, Groupe Royer has bought the company for just over €2 million. The sale includes Charles Jourdan’s assets and its seven stores. Despite undergoing three reorganisations in the last five years, the company has been unable to stay afloat and its 197 employees remaining employees had already been laid off.
The Royer Group claims to be France’s largest footwear importer and distributor. Its clients include Converse, Kickers, Stephane Kelian, Keds, Airwalk, Morgan, Paul and Joe Sister, Saucony, and Von Dutch. In 2007, it had 505 employees and recorded a €270 million turnover. It sells more than 28 million pairs of shoes a year.
