L'Aurore
Strategic Concepts & Mechanics
Primary Evidence
"So the Willot brothers bought Boussac without spending a penny. The price (700 million francs) was paid for by several asset sales, including the daily newspaper L'Aurore, sold to Robert Hersant. For the rest, the prey financed its predator. In three years, Boussac would bring them more than 600 million francs. They are rich. They are boastful. With Dior, they dress princesses and stars. The establishment can no longer despise them. They could stop there, make their group a model of good management relying more on operating profits than exceptional capital gains, stop walking the tightrope and living on credit. But have you ever seen a hamster stop nibbling? Jean-Pierre Willot, the most ambitious of the quartet, decides to strike again. Two months after Boussac, he buys the Korvettes chain of department stores in the United States. Crêpe Willot has become a multinational corporation."
"The carving up will begin very quickly. To have current cash flow and satisfy the most privileged creditors, the judicial administrator finalizes the sale of L'Aurore and Paris-Turf, as well as the building on Rue de Richelieu, headquarters of the press group. The Fresnay-le-Buffard stud farm and the racing stable in the colors of Marcel Boussac, with his champion, Acamas, are sold to Aga Khan."