Clergerie Files for Court Protection, Seeks Buyer
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PARIS — French footwear brand Clergerie has been placed in receivership, after a relaunch under new parent company French Legacy Group in 2020 failed to take off. The company said its growth strategy was impacted by the long-tail effects of the pandemic and the war in Ukraine.
“The situation at Clergerie Group was very fragile at the time of our takeover, and the impact of the pandemic and situation in Ukraine was a double shock. We hit a wall with the decrease of traffic in stores, longer lead times and delays in deliveries from suppliers,” FLG president Jerome Espinos told WWD.
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The Paris-based shoe brand filed for court protection March 29. A court-appointed judge will have six months to find a buyer for the troubled brand. The court procedure will not impact the running of the business worldwide while Clergerie searches for a new backer.
French Legacy Group falls under Swiss investment fund Mirabaud Asset Management and its subsidiary, Mirabaud Patrimonie Vivant, an arm dedicated to supporting “living heritage” companies in the luxury and lifestyle sectors.
Other brands in the FLG portfolio include Avril Gau, Violet Tomas and Ateliers Heschung, acquired while also in receivership, in December 2021. Under FLG, Espinos hoped to highlight the “Made in France” label and grow Clergerie in Asia.
The company opened two stand-alone stores in Tokyo in 2021, as well as a boutique in Beijing, as it pushed forward in the market, and planned for 25 stand-alone stores worldwide by the end of 2022. Espinos spearheaded Clergerie collaborations with Chufy and Gabriela Hearst.
“Since 2020, we pursued a very ambitious strategy. We opened stores and developed the collection [globally]. Turnover has doubled in the space of two years,” Espinos said.
Those plans were derailed by supply chain problems, particularly in China, and the brand struggled to regain its footing. Espinos said that the company sought protection of the French commercial court to find a new financial structure, seek new investors and a cash infusion.
“It’s a chance to restart. We believe in our future, our product and everyone working here. I think it’s a moment where we have to reinvent,” he added.
The company, founded by Robert Clergerie in 1981, dropped the founder’s first name amidst a rebrand in 2018.
The brand has 13 stand-alone stores, with shops across France and boutiques in Brussels; Geneva, Switzerland; Los Angeles; London; Madrid; New York City, and Tokyo. The brand is also carried in key department stores globally.
Clergerie owns a factory in the historic shoemaking capital of Romans-sur-Isère, France, which employs 60 artisans. The company has about 150 employees worldwide, which are not expected to be impacted immediately.
Prior to taking the reins at FLG, Espinos served 10 years at Ralph Lauren as head of footwear and accessories.
With contributions from Katie Abel
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