La Redoute managers’ unexpected acquisition offer

In an unexpected turn of the tide, La Redoute Chief Executive

Nathalie Balla and Redcats finance chief Eric Courteille have made an acquisition offer for the online and catalogue fashion business to parent group Kering.

La Redoute Managers at Kering’s loss-making La Redoute mail order unit have made a joint offer to acquire the business from Kering, ’Challenges’ magazine reported on Monday. La Redoute is part of Kering’s mail order business Redcats.

According to the latest figures publicily available, Kering has injected more than 400 million euros into La Redoute since 2008 and would be ready to inject at least another 300 million in order to cover its losses for a few years more and finance its restructuring, sources close to the matter quoted by Reuters pointed out.

In recent months, other potential suitors such as HIG Capital, OpCapita and real estate group Altarea Cogedim would have shown their interest in buying La redoute, ‘Challenges’ reported.

A spokesman for Kering confirmed an announcement on a sale was expected before Christmas, but he declined to comment on the process or possible bidders.