Societe Generale accompanies Bérénice during a new stage of its development
Societe Generale invested in the capital of Bérénice in the form of a minority stake.
Societe Generale invested in the capital of Bérénice in the form of a minority stake. Through this investment, Societe Generale will contribute to the development of this ready-to-wear (prêt-à-porter) clothing group.
Established in 2004 by Frédéric Krief, Bérénice specializes in the "affordable luxury” market, with a positioning halfway between luxury houses and consumer clothing brands. Highly popular and with growing success, the brand generated €29 million in sales in 2012.
The Bérénice brand has developed an effective distribution network in Paris and throughout France, with a real client-focused strategy, and currently has about 70 store locations.
This operation will allow the company to pursue the steady growth it has known since 2007, with sales multiplied by 7 in five years. It will also support its strategy of strengthening its presence in France and expanding to the international stage. By entering the capital of Bérénice, Societe Generale Capital Partenaires will provide this client with strategic and long-term support.
This operation is testimony to Societe Generale’s commitment to supporting SMEs and providing them with the most comprehensive and wide-ranging services possible.
Marc Jacquin, Investment Director at Societe Generale Capital Partenaires, comments: "Bérénice is a well-establish brand with a high potential of development today. We are very happy to contribute to their future development."