Court approves Eveden Huit's sale to Trendy Capital

French lingerie retailer Eveden Huit, formerly owned by Japanese group Wacoal, has been sold to Trendy Capital. The Commercial Court of Rennes has given the green light to the owner of lingerie manufacturer Canat to acquire of Eveden Huit.

Eveden Huit used to be part of Wacoal´s portfolio until last April, when it entered the French equivalent to administration. The relevant court, Rennes Commercial Court, has just decided over the two potential existing clients.

In a communication issued Monday, the company announced it is now property of Trendy Capital, which already has experience within the intimate fashion and lingerie as the proprietor of Canat, a company of Millau (Aveyron).

After sale, Eveden Huit will become Huit France

The company will be renamed to Huit France, told to AFP Patrick Bordessoule Patrick, who has led Huit since January 2016.

"They keep the brand, its know-how," he said in regards to the sale. “We decided to keep the key skills," said to AFP Sellam Lazare, CEO of Trendy Capital, a holding company that has nightwear brand Canat and at which Sellam serves as director

"There will be synergies between the two companies," he noted, further adding that information systems, as well as some administrative positions at Canat and Huit will be now shared.

Sellam explained earlier this week that by acquiring Eight, they will be able to break into an enhanced market as "night lingerie is a niche market," so Trendy Capital will thus be able to rely on three market segments: corsetry, the bath segment and nightwear. However, each brand will keep "its own position." In fact, the CEO wants to keep "the fundamentals of the two brands," moving forward.

Founded in 1968 in Rennes, first experienced initial financial difficulties in 2010. After filing for bankruptcy, it was bought by the British company Eveden, specialising in plus size lingerie. The operation caused forty layoffs.

Since then, the Rennes-based firm has changed hands twice: bought in May 2012 by Japanese group Wacoal which never quite succeeded to revive its business. In 2015, the company posted a loss of 2 million euros on a 6.2 million euros worth of turnover.

Image:Huit Official Page