Boussac Saint Frères

"What was done... Without this animal episode, the Louis Vuitton Foundation would probably never have seen the light of day at the Jardin d'Acclimatation because Bernard Arnault would inherit this concession when he took over the Boussac Saint Frères group."

"As of June 30, 1980, the financial statement of the new Boussac Saint Frères company shows a profit of 14 million francs, after 83 million francs in depreciation, but this result is achieved thanks to 68 million in exceptional capital gains realized on the sale of assets."

"The group, in a lengthy statement, denies the harmful allegations contained in this report and threatens to sue Syndex for defamation. We are a month away from the elections, all this media turmoil remains as it is and does not favor the group's credibility. In the first quarter of 1981, losses continue to accumulate. The group's debt keeps increasing. Interest rates reach peaks at 17%. Financial expenses represent nearly 9% of Boussac Saint Frères’ revenue. On the side of public authorities, the case becomes explosive. In this pre-electoral context, the group obtains a deferment of payment of its social charges and VAT. The settlement of the latter by guaranteed obligations corresponds only to a treasury facility available from August 24."

""Boussac Saint Frères will live," "Stop the destruction," "the Willot must pay"... can be read on the banners held up by delegates and trade unionists and by about 500 employees from all the factories of the group at the meeting of the central works council held in Wambrechies on July 2."

"This company will be established with a capital of 200 million francs. Its new corporate name will be Compagnie Boussac Saint Frères. Starting from July 1, 1982, it will receive from the provisional administrator the lease management of Boussac Saint Frères for a period of five years. In financial terms, the inventory will be brought in at a value of 1.1 billion francs and the realizable and available assets for 500 million francs, all payable at the end of the five years. The royalty to be paid to BSF by CBSF will be 0.10% of the tax-excluded turnover."

"Molière, The Miser The State must now find a solution to resolve the Boussac Saint Frères file. The solution will necessarily require a lot of energy and cost a lot of money... It is, of course, out of the question to proceed with a nationalization as has been done with a number of other large industrial groups. The government then had the idea to approach the Industrial Development Institute. It is a hybrid entity, halfway between public and private, whose purpose is to take sta"

"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..."

"Both, in their different capacities, were familiar with the Boussac Saint Frères case that Pierre Godé had already indicated to him as a possible target. François de Combret did not hesitate to encourage Bernard Arnault to approach Antoine Bernheim in Paris, who had in his drawers, among others, this business acquisition file to study. Politically, a new more liberal government had just been appointed. Investment banks have many business acquisition files rich in opportunities for those who know how to seize them."