Buy Low in Structural Chaos

“It thus clearly appears that the Willot group benefits from extraordinarily favorable conditions in this operation. Not only does it not have to spend a cent in taking over Boussac, but on the contrary, it improves its cash flow through the recovery of receivables and liquidity and by selling Boussac's stock. A new working capital is established thanks to the supplier credit that the group can negotiate again. The sales of assets already made will allow for the repayment of the first installments.”

“The Boussac Saint Frères file is one of those. The quality and influence of the Christian Dior brand greatly impressed Bernard Arnault. He would really like to know more... He knows the brothers, who are also from the North, why not meet them? On July 15, 1984, a first meeting takes place in Croix, at Croquet, the name of Jean-Pierre Willot's lavish home. Who will outsmart whom? Bernard Arnault mostly talks about Dior, but it's all or nothing...”