Julien Charlier

"On December 14, two days before the government decision, Julien Charlier receives Bernard Arnault at his home on Rue de la Faisanderie. The young man is tired but still determined. He lays his cards on the table: "If you don't agree to become my advisor, I risk losing the game." Charlier is quick to seize the opportunity offered to him. By becoming Boussac's consultant, he will be able to see his competitor's cards before playing his own and he will block the path of his enemy Bidermann. He sets his conditions: a commission of 0.75% on Boussac's turnover (nearly 10 million francs) and the possibility of buying Boussac (if Arnault is a seller) 20% below the price of other offers. The boss of Férinel accepts these exceptional conditions, which he will later remember when he imposes an identical clause on his future partner, Guinness. He now holds the last trump card he was missing."

"Bernard Arnault writes: "I will personally ensure the management of CBSF and will proceed with the implementation of the industrial and social plan as communicated to competent authorities. I will have the assistance of Mr. Julien Charlier who will serve as both my advisor and a member of the CBSF board of directors. Mr. Charlier could only become a corporate officer of CBSF if he ceased to be a corporate officer of DMC. A technical cooperation agreement will be concluded between DMC and CBSF. Finally, Mr. Willot will, of course, not take any part in the management of CBSF and will no longer hold any executive positions within the company or the group.""

"Bernard Arnault feels the tide turning and pulls a last ace from his sleeve to clinch the deal. His lack of knowledge in the textile industry is undeniably the weak point of his proposal. Julien Charlier, president of OMC, whom he has already met, can change the game if he agrees to be his advisor. An agreement is quickly reached. OMC becomes the textile industrial operator for BSF. An agreement is rapidly signed. Moreover, it is beneficial for both parties as it can help resolve competition issues between the two groups, specifically regarding household linens and clothing and furnishing fabrics. It is more than attractive for OMC, which will receive a royalty of 0.75% of the revenue from the textile activities under contract and will benefit from a right of first refusal and a 10% discount on the sale price of the concerned department."

""For the unions, the role of the 'providential' textile operator, Julien Charlier, remains unclear. How will relations with DMC, the competing group he leads, be organized? A joint statement was published on December 18 by Mr. Arnault and Mr. Mayer, to announce and comment on the event: "...The intention expressed from the beginning by the public authorities was to create favorable conditions for the reintegration of industrial activities within a group destined to develop within the private sector framework. The interest shown by several industrial and financial groups in the takeover demonstrated that this objective had been achieved thanks to the action led over the past three years by CBSF, with the support of the public authorities."