LBO France Acquires Bexley, a French Specialty Retailer of Men’s Footwear
LBO France today announced the acquisition of Bexley (“the Company”), a French specialty retailer of men’s high quality footwear at affordable price. The founding manager, Mr. Eric Botton, will keep a minority interest in the Company.
Founded in 1985, Bexley rapidly established itself as one of the most successful French retailers of men’s footwear positioned in the affordable luxury segment and offering excellent quality-price ratio. Since then, the Company gradually diversified its product offering with men’s clothing (shirts, polos, pullovers, pants and suits) and accessories (belts, socks and small leather goods).
In addition to its own store network, Bexley, which was a precursor in developing an omni-channel strategy, succeeded in setting up and launching an effective e-commerce platform as early as 1996, which today accounts for 1/3 of total sales with more than 400,000 customers.
The Company employs 75 employees split between its head-office in Lyon and its 14 stores located in Paris, Lyon, Annecy, Aix, Marseille and Brussels.
To accelerate growth and expansion in the coming years, Bexley has identified 3 main priorities:
– Further develop its e-commerce platform focusing on the acquisition of new clients, its CRM tool, and an enhanced customer experience thanks to shopping via smartphones or tablets;
– Continue geographical expansion in France with the opening of new stores in other French large cities or selected mid-sized cities;
– Proactively identify prime location opportunities for new store openings in large European cities such as London or Berlin.
Jérôme Guez, Partner LBO France, commented: “We are very enthusiastic about this 5 th investment of our Mid Cap fund White Knight IX in Bexley. We look forward to work alongside the founding manager, Eric Botton, and his team in order to accompany Bexley in this new development chapter, by extending its store network, enhancing its e-commerce platform while maintaining very high profitability.”
Eric Botton, Bexley’s founding manager, added: “I am very pleased to pursue Bexley’s growth story with LBO France, a financial sponsor in which, with the support of their Operating team, we have found a real understanding of our challenges and the clear willingness to invest alongside us in giving a whole new dimension to Bexley.”
Parties involved: LBO France – LBO France Team : Jérôme Guez, Guy Latourette, Laurent Mabileau, Karine Callec – Finance : 8 Advisory (Florence Khayat) – Legal : Mayer Brown (Xavier Jaspar ; Emily Pennec) Jones Day (Diane Sénéchal) – Strategy : Advention (Alban Neveu) – Tax : Arsene Taxand (Denis Andres) –
In 1985 in LYON, Eric BOTTON created the brand and the BEXLEY concept from scratch and without any special knowledge, he is still the president. Since then, Bexley has established its name, style and philosophy. The brand now has 13 points of sale in Paris, Lyon, Marseille, Brussels and Annecy.
Source: LBO France