Consumer goods & services
France FR

Scope of intervention

Sycomore Corporate Finance acted as financial advisor to La Redoute

Date of closing

June 2014
Kering, a world leader in apparel and accessories developing powerful luxury and sport & lifestyle brands, announced that it has closed the sale of La Redoute (multi-specialist in readyto-wear and home ware) and Relais Colis (leading private customer delivery network from depots and to the home) to Nathalie Balla, current chairman of La Redoute and Eric Courteille, chief administrative officer of Redcat.

A newly created entity has acquired all the shares of La Redoute, Redoute International and Relais Colis following a concomitant recapitalisation by Kering. This company will be co-chaired by Mrs Balla and Mr Courteille, who jointly have the majority shareholding, the remainder of the capital being held by a team of managers.

The acquisition will enable the new buyers to continue and accelerate the transformation of the companies within their framework of a long-term industrial plan, capable of ensuring a return to growth.

Mrs Balla’s and Mr Courteille’s industrial plan combines two complementary aspects:

  • Distribution of an attractive and standard-setting product offer for women over thirty, centred on clothing and the home, that combines own brands, a selection of outside brands and a selective marketplace;
  • Excellent customer service, with the operational strengthening of La Redoute in three fundamental areas: the performance of the online store, the reliability and speed of delivery and the quality of after-sales service. La Redoute will continue to rely for deliveries on its preferred partner, Relais Colis, which will continue to grow its business in terms of new customers and accelerate the launch of new services.

The activity of the international subsidiaries will be given fresh impetus by marketing the offer in 24 countries, refocusing the company’s own business on its key markets.

The transaction is in line with Kering’s long-term strategy to sell retail units and focus on its luxury businesses.


  • Continue and accelerate La Redoute’s transformation within the framework of a long-term industrial plan, capable of ensuring a return to growth
  • Enable Kering to focus on core luxury businesses, in line with its long-term strategy plan

La Redoute at a glance

La Redoute is a multi-specialist in ready-to-wear and home ware with 10 million active customers worldwide. La Redoute is the second biggest retailer of women’s clothing and the third biggest for household linen in France. is the No.1 clothing and home ware website for retail sales in France, with an average of 7 million individual visitors per month. In 2013, online sales accounted for more than 85% of the brand’s France revenues.

Kering at a glance

A world leader in apparel and accessories, Kering develops an ensemble of powerful Luxury and Sport & Lifestyle brands: Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, McQ, Stella McCartney, Tomas Maier, Sergio Rossi, Boucheron, Dodo, Girard-Perregaux, JeanRichard, Pomellato, Qeelin, Puma, Volcom, Cobra, Electric and Tretorn. Present in more than 120 countries, the Group generated revenues of €9.7bn in 2013 and had 31,000 employees. The Kering (previously PPR) share is listed on Euronext Paris (KER.PA, KER.FP).