This French destocking giant has acquired 18 of the brand’s 20 clothing lots for only 3.8 million euros.
Noz wins Camaïeu clothing. On the occasion of the auction of the remaining stocks of the company placed in compulsory liquidation, the destocking sign left with 18 of the 20 lots put up for sale, paying 3.82 million euros. A derisory sum, compared to the estimated value of the whole. Only two batches were not recovered by Noz: those from the stocks of the stores in Corsica and Monaco.
The sale took place a month after the ready-to-wear company had to close its 511 stores and lay off its 2,600 employees. Despite significant sales during the last days of opening, a certain amount of stock remained unsold. Based in Mayenne, Noz notably got its hands on Camaïeu’s coveted winter 2022-2023 collection, which had not had time to be presented in stores. The starting price was 450,000 euros, and Noz finally paid out 530,000 euros.
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The sale is a good deal for Noz: in total, the overall value of the stocks auctioned on Wednesday, if they had been sold in stores, was estimated at 51.6 million euros for nearly 2 million pieces, according to Maison Mercier, organizer of the event. “All the stocks of the 509 stores are offered for sale, i.e. around 1,200,000 pieces for a store sale price value of around 34 million euros including tax.“, was it indicated on the site of the auction house. To this was added all warehouse stocks, i.e. 580,000 pieces for a value of approximately 14 million euros, as well as the winter 2023 collection, i.e. approximately 276,200 pieces for 3.6 million euros.
Despite the estimated value of the stocks if they had been sold in stores, the Mercier house was rather aiming for a sale reaching 1.5 million or 2 million euros. An amount which, in the end, almost doubled. Buyers now have until November 14 to remove the goods for stocks from stores across France, and until the end of November for stocks from northern warehouses.
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A sale expected in a few weeks
But with its 312 destocking stores, Noz seems to be able to recover the stocks of each of the stores. The company even hopes to be able to offer Camaïeu clothing on its shelves within three weeks. “It will be in our stores by the end of the month. We have rarely been faced with such a large auction but the mode of operation is quite classic for us.“, recognizes the company. Noz has not yet disclosed any details as to the price at which the clothes from Camaïeu’s stocks will be offered: “It will depend on the collections, we will arbitrate this subject in the next few days“says the company soberly.
The company founded in 1976 in Laval has indeed developed expertise in this area: its model is based on the resale of products exclusively from overstocks, end of series, end of collections, packaging changes, canceled orders or even auctions. Textile products that it then resells at low prices in its 312 points of sale present exclusively in France.
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But despite this significant investment in Camaïeu stocks, business does not seem so simple for Noz, which nevertheless claims an annual turnover of 550 million euros, since the company closed around twenty of its stores in september. In the meantime, Camaïeu lovers will be able to enjoy his creations one last time, this month, at the destocker.
SEE ALSO – Camaïeu: the 511 stores are closing their doors for good