Camaïeu S.A. | Introduction
Introduction
211 av Brame, BP 229
Roubaix
F-59054 Cedex 1
France
Telephone: + 33 3 20 99 71 13
Fax: + 33 3 20 80 71 70
Web site: http://www.Camaïeu.com
Public Company
Incorporated: 1984
Employees: 3,000
Sales: EUR 393.3 million ($450 million) (2004)
Stock Exchanges: Euronext Paris
Ticker Symbol: 7633
NAIC: 424330 Women's, Children's, and Infants' Clothing and Accessories Merchant Wholesalers
Camaïeu S.A. operates one of France's largest chains of women's clothing stores. The company, based in the northern city of Roubais, also has been expanding its network into international markets in the mid-2000s. Camaïeu's store network topped 440 stores at the beginning of 2005—including 69 stores in foreign markets such as Spain, Italy, Belgium, the Czech Republic, Poland and, since 2004, Russia. Camaïeu's stores tend to be small—with an average selling space of just 200 square meters—and focused on the lower mid-range ready-to-wear market. The company has established its reputation as a strong price competitor, rather than as a fashion house. As such the company's stores tend to feature styles inspired by—rather than setting—seasonal trends. Sourcing its goods from low-wage markets including China, Turkey, and the Middle East enables Camaïeu to position itself as a low-cost alternative, while offering reasonable quality. The company owns most of its stores, although a proportion continues to operate as franchises. A public company listed on the Euronext Paris Stock Exchange since 2000, Camaïeu has become the subject of a friendly take-over offer at the beginning of 2005, from private equity firm AXA Private Equity. The offer has enabled the founding Torck and Giraud-Verspieren families to cash out their holdings in the company; however, AXA Private Equity has not yet been able to buy full control of Camaïeu. In 2004, the company's revenues topped EUR 393 million ($450 million).