Vivarte Group has sold André to Spartoo
Lincoln International, a leading global mid-market investment bank, is pleased to announce the divestiture of the French century-old footwear retailer André (the “Company”) to Spartoo, a leading France-based online shoe retailer.
Former cornerstone of Vivarte Group, André has been for decades a pioneer in distributing affordable fashion footwear for the whole family, with a unique brand awareness, a good value-for-money perception and a wide network of c.180 stores (70% directly operated by the Company) benefiting from prime locations in French city centers and malls. In 2017 the Company recorded c. €100m in revenues and employed over 750 people.
Throughout the process an intense competition was organized between financial and strategic buyers, attracted by André’s key brand attributes and the prime locations of its store network, which made the Company unique on the French market. Vivarte finally secured the divestiture to Spartoo, best positioned as an online retailer to rejuvenate André’s business. Through this transaction, Spartoo intends to implement its “phygital” strategy combining its online product offer with André’s store network and aiming at improving in-store footfall traffic through digital presence.
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