Vivarte closes sale of footwear retailer André to Spartoo in full divestment strategy
The company has already detached itself from other portfolio brands, including Naf Naf, Merkal, Pataugas and Kokaï, among others. Vivarte’s sale of strategic assets were carried out to make the business profitable again.
Vivarte closes André’s sale. The French company has completed the handover of the footwear retailers to ecommerce group Spartoo. The brand’s new owner acquired the 210 stores of the firm and is currently negotiating with the chain staff, which amounts to about 700 people.
The deal, already announced in early 2018, will help Spartoo to boost an omnichannel approach, as André products will be made available through the Internet and the platform will use the brick-and-mortar store network to create closer bonds with offline consumers and implement click and collect services. After the acquisition of André, Spartoo’s revenues estimates are near to 250 million euros.
Vivarte has been selling strategic assets during the last couple of years in order to find the way back to profitability. Naf Naf, Merkal, Pataugas and Kokaï are some of the labels that the group detached from. In parallel, Vivarte is currently seeking a buyer for Besson Chaussures.
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