Spartoo take over JB Martin to rescue it from bankruptcy (for the moment)

Spartoo take over JB Martin to rescue it from bankruptcy (for the moment)

Spartoo take over JB Martin. In so doing, they have rescued the nearly centennial brand from bankruptcy. The French group, which specializes in footwear e-commerce, has therefore added a new brand to their own portfolio. Spartoo also bought out Christian Pellet (men’s footwear) and Un matin d’été (women’s footwear). Still we do not know how much the investment in JB Martin acquisition amounts to.

Spartoo take over JB Martin

JB Martin will turn 100 in 2021. Yet, right before celebrating one century, the company, headquartered in Fougères, was almost about to go bankrupt. The brand was wound up on 3rd June 2020 by the commercial Court of Paris. No investors, till that moment, had come forward to buy it out. JB Martin’s employees, 125 in total, have been dismissed, while its selling stores (around ten) have been closed.

After going through long-lasting difficulties, the brand had to deal with the pandemic effects then. Spartoo have now announced they have bought out the company as much as the other assets formerly wound up, namely Christian Pellet and Un matin d’été brands. Still Spartoo have not made public the way they are planning to revitalize the historic brand. As reported by Agence Api, they just said “JB Martin embodies a meticulous know-how in the footwear professional practice: the group is going to keep developing that”.

The group

Spartoo currently employ over one thousand people, and the group’s overall turnover amounts to 250 million euros. Reportedly, they can rely on 14.5 million single visitors a month in Europe: their website hosts more than 400,000 models and over 6,000 brands.

For the records, this is not the first time Spartoo are up to acquisitions. In 2017, they bought out GBB, a French brand which makes shoes for children and kids. Some of those deals did not enjoy a happy ending though. In 2018, Spartoo took over André group, but were compelled to sell it, just 18 months later, to François Feijoo, former manager of the company from 2005 until 2013. André never recovered from the crisis.

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