The Beaumanoir group, which is in contention to acquire the troubled IKKS chain, has submitted its results, along with those of several subsidiaries, to the registry of the Paris Business Court. While the court’s decision is expected on November 28, the document indicates growth at group level but difficulties for some units. These figures should be viewed in context, as the document may omit certain activities within the group.
The Beaumanoir group oversees the European operations of the Boardriders brands – Element
With the aim of acquiring the brand names of the IKKS group and taking over three of the company’s stores for its Caroll and Morgan labels, Beaumanoir has made a bid of one million euros. In this endeavour, the Breton group is supported by three of its companies: Caroll International, Cafan (which primarily manages the Morgan brand), and Cariboo, a small retail business linked to the Boardriders group.
Improving results for Beaumanoir
Now accustomed to acquiring companies in distress, the C.C.V. Beaumanoir group reports positive momentum in the document it filed with the registry. It posted revenue of 2.1 billion euros for the 2024 financial year, ending on February 28, 2025, with operating profit of around 136.5 million euros. This marks an increase on the previous year, when the group reported 1.76 billion euros in revenue and operating profit of around 78.8 million euros.
IKKS attracts the interest of many industry players, including Beaumanoir – OG-FNW
The document also details the results of SAS Cafan, the company managing Morgan, which would gain one or two stores in the event of a favourable ruling by the court of economic affairs on Beaumanoir’s offer. SAS Cafan posted net sales of 165.3 million euros in 2024, compared with 158.9 million euros in 2023. Its operating profit, however, has been steadily declining in recent years: 2.9 million euros in 2024, versus 5.3 million euros in 2023 and 9.6 million euros in 2022.
Caroll International grows despite operating profit in freefall
The distribution company Cariboo, by contrast, appears to be facing difficulties, according to the information in the document filed with the registry. It is forecasting sales of 8.7 million euros in 2024, compared with 27.6 million euros in 2023. Its operating profit is around 194,000 euros for 2024, versus around 131,000 euros in 2023. These figures may be linked to the situation of the Boardriders group brands (Quiksilver, Roxy, etc.), whose European operations were taken over by Beaumanoir from June 2024.
Caroll joined the Beaumanoir group in 2021 – Caroll
Lastly, Caroll International, the fourth component of the bid, recorded net sales of around 173 million euros in 2024, including 20.5 million euros in exports, compared with around 166 million euros in 2023. Its operating result is negative, at around -967,000 euros, versus just over 930,000 euros in 2023.
Owner of the Bonobo, Cache-Cache, Morgan, Vib’s, Caroll, and Sarenza brands, the group has also recently partially taken over Jennyfer and Naf-Naf. Beaumanoir’s strategy is to address a broad range of customer segments.
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French cosmetics giant L’Oreal said on Wednesday it will set up a beauty tech hub in the south Indian city of Hyderabad with an initial investment of over 35 billion rupees ($383.4 million).
L’Oréal
The hub aims to be a global base for AI-driven beauty innovation, create 2,000 tech jobs through 2030, and speed up the rollout of advanced AI beauty solutions, the company said in a statement.
Nicolas Hieronimus, L’Oreal’s CEO, and the state government of Telangana formalized the partnership at the World Economic Forum, Davos.
Telangana has rapidly emerged as a key investment and technology hub in southern India.
Bilateral trade between India and France stood at $15 billion in 2024, and Indian Prime Minister Narendra Modi and French President Emmanuel Macron have been forging warmer ties.
The two sides have also been working to recast their tax treaty since 2024 to modernize it by adapting global standards on tax transparency, Reuters reported in December.
Swarovski on Tuesday announced the appointment of Sindhu Culas to the role of president, general manager, North America at the Austrian jewelry maker.
Sindhu Culas – Courtesy
Based in the luxury firm’s New York City office, Culas will be responsible for “maximizing the Swarovski physical and digital presence and overall brand affinity in the U.S.,” according to a press release.
“We are thrilled to welcome Sindhu to Swarovski. Her vast leadership experience and passion for the brand make her an exceptional addition to our team,” said Kolja Kiofsky, chief commercial officer, Swarovski.
“With Sindhu guiding our next chapter in North America, we are looking ahead to an exciting future filled with creativity, operational excellence, and meaningful growth under our LuxIgnite strategy.”
A retail veteran with over 25 years of experience across omni‑channel retail and institutional investment management, Culas joins the crystal jewelry maker from G-Star, where she served as CEO of North America at the British denim and apparel brand.
She began her career as a buyer and planner at Macy’s, Talbots, and Lord & Taylor before being promoted to strategy and brand management at Macy’s. Later on, the executive served as senior vendor manager at Amazon and as senior vice president of e‑commerce and strategy for Calvin Klein.
“Watching Swarovski’s brand repositioning and momentum in recent years has been inspiring,” said Culas, in response to her new appointment.
“I’m excited to join this exceptional team, collaborate across the business, and help strengthen our position while accelerating growth throughout North America. It’s a remarkable moment for the brand, and I’m thrilled to contribute to the journey ahead.”
There are stories you simply couldn’t invent. The tale of Bourrienne Paris X, a finalist for the DHL 2025 Award, is one of them. The French shirtmaker for men and women, co-founded in 2017—among others—by two women with entirely different backgrounds, is now entering a phase that balances dynamic expansion with a quest for longevity, projecting growth of over 50% in 2025 and an equally high target for 2026.
Cécile Faucheur is the label’s artistic director – Bourrienne Paris X
The designer behind the Bourrienne Paris X collections is Cécile Faucheur. A former fashion design teacher, pattern cutter and stylist, she is now head of design at the brand she co-founded. Her research at the Musée de la Chemiserie in Argenton-sur-Creuse captivated both her and Charles Beigbeder (who had just taken over the Hôtel de Bourrienne in Paris), prompting them to dedicate a men’s shirting brand to the building.
Historical details and diverse trajectories
For her part, Carine Beigbeder, co-founder and CEO of Bourrienne Paris X, draws on a background that spans finance and entrepreneurship. She previously managed a listed small-cap fund at Financière Arbevel. Her analysis of companies’ business plans and strategies spurred her to take on an operational role—one she now fulfils at Bourrienne Paris X. A luxury brand, or at least on the way to becoming one, the label currently employs around ten people and is attempting to compete with luxury giants such as Hermès in a niche that has, until now, been very narrow: the shirt.
Carine Beigbeder aims to bring longevity to Bourrienne Paris X – Bourrienne Paris X
“The idea was to build a brand inspired by historical details and the shirtmakers of yesteryear. We realised that the men’s wardrobe had lost much of the richness it once had.”
Today, the Bourrienne Paris X wardrobe is rooted in both French stylistic heritage and modern fashion, having opened up to womenswear as early as its second season. This now accounts for more than half of the house’s turnover.
In search of quality materials
“For women, the shirt was a vehicle of emancipation as womenswear became uncorseted and a little freer. It wasn’t necessarily at the same time, but that’s not the point,” explained Beigbeder.
Bourrienne Paris X now goes beyond the shirt and has launched men’s trousers on pre-order, cut from a very heavy Belgian linen, “as if coated with a fine layer of beeswax, which gives it a very new and very innovative look,” in the CEO’s words.
Details play an important role in Cécile Faucheur’s work – Bourrienne Paris X
At Bourrienne Paris X, the linen comes from Belgium, the poplin from Italy, the embroidered trims inspired by the Hôtel de Bourrienne are made by a century-old manufacturer in northern France, the pleating by a Breton artisan, and the mother-of-pearl is sourced from Australia. The shirts, meanwhile, are made in Portuguese and Romanian workshops, and the house is considering other production sites elsewhere in Eastern Europe.
Priority given to digital
Soon to mark its tenth anniversary, Bourrienne Paris X is now in its third year of profitability. Struck by the Covid-19 pandemic after a loss-making start, the brand managed to “keep its head above water,” thanks to digital, which provides sufficient data to respond to its customers’ tastes. The company has self-financed its digital investments and plans to double them in 2026 to accelerate growth, a priority given that its e-commerce site generates over 50% of its sales.
Bourrienne Paris X is largely inspired by the Hôtel de Bourrienne – Hôtel de Bourrienne
Bourrienne Paris X also invests in SEO, and in Google, Pinterest and Meta campaigns tailored to each of the countries where it is sold, namely the United States, England, Switzerland, Canada and Australia. Customs duties, included in the final price across the Atlantic, are no longer an issue for the brand, thanks to the purchasing power of its American customers.
International expansion
With 60% of its sales generated abroad, the label is stocked by a number of department stores, including Le Bon Marché’s men’s department in Paris, as well as Bongénie in Geneva and Zurich, Lane Crawford in Hong Kong, and Isetan, Tomorrowland, United Arrows and Wako in Japan. This is why it is presenting its project to the DHL Prize jury this year.
The brand is a finalist for the DHL 2025 Award – Bourrienne Paris X
The brand remains based at 58 Rue d’Hauteville, opposite the Hôtel of the same name, in the 10th arrondissement of Paris. It’s not unusual for curious customers to be invited to discover the place that inspires the brand with each new collection. The brand’s desire to prioritise digital shapes its approach to welcoming investors, whose most valuable contribution would be their expertise.
For the time being, beyond the brand’s growth, Beigbeder is focused on a mission that is no less important: ensuring that Bourrienne Paris X stands the test of time. A “real challenge” consisting of remaining faithful to the house’s convictions and avoiding, as far as possible, the pull of passing trends.