As it bids for IKKS, Beaumanoir publishes latest annual results for its subsidiaries

The Beaumanoir group, which is in contention to acquire the troubled IKKS chain, has submitted its results, along with those of several subsidiaries, to the registry of the Paris Business Court. While the court’s decision is expected on November 28, the document indicates growth at group level but difficulties for some units. These figures should be viewed in context, as the document may omit certain activities within the group.

With the aim of acquiring the brand names of the IKKS group and taking over three of the company’s stores for its Caroll and Morgan labels, Beaumanoir has made a bid of one million euros. In this endeavour, the Breton group is supported by three of its companies: Caroll International, Cafan (which primarily manages the Morgan brand), and Cariboo, a small retail business linked to the Boardriders group.

Improving results for Beaumanoir

Now accustomed to acquiring companies in distress, the C.C.V. Beaumanoir group reports positive momentum in the document it filed with the registry. It posted revenue of 2.1 billion euros for the 2024 financial year, ending on February 28, 2025, with operating profit of around 136.5 million euros. This marks an increase on the previous year, when the group reported 1.76 billion euros in revenue and operating profit of around 78.8 million euros.

The document also details the results of SAS Cafan, the company managing Morgan, which would gain one or two stores in the event of a favourable ruling by the court of economic affairs on Beaumanoir’s offer. SAS Cafan posted net sales of 165.3 million euros in 2024, compared with 158.9 million euros in 2023. Its operating profit, however, has been steadily declining in recent years: 2.9 million euros in 2024, versus 5.3 million euros in 2023 and 9.6 million euros in 2022.

Caroll International grows despite operating profit in freefall

The distribution company Cariboo, by contrast, appears to be facing difficulties, according to the information in the document filed with the registry. It is forecasting sales of 8.7 million euros in 2024, compared with 27.6 million euros in 2023. Its operating profit is around 194,000 euros for 2024, versus around 131,000 euros in 2023. These figures may be linked to the situation of the Boardriders group brands (Quiksilver, Roxy, etc.), whose European operations were taken over by Beaumanoir from June 2024.

Lastly, Caroll International, the fourth component of the bid, recorded net sales of around 173 million euros in 2024, including 20.5 million euros in exports, compared with around 166 million euros in 2023. Its operating result is negative, at around -967,000 euros, versus just over 930,000 euros in 2023.

Owner of the Bonobo, Cache-Cache, Morgan, Vib’s, Caroll, and Sarenza brands, the group has also recently partially taken over Jennyfer and Naf-Naf. Beaumanoir’s strategy is to address a broad range of customer segments.