Lhe scene takes place on October 20, 2018, at the Grand Hôtel de Bordeaux. It is reported by our colleagues from South West. The owner of this 5-star makes his show for three hours in front of ambitious young people, distilling advice here and there. “In the business world, 90% of success comes from courage and risk taking. Diplomas, know-how and experience only count for 10%. Someone who has nothing, but dares, can have everything, ”then launches Michel Ohayon (61 years old) to them. This man is a local star with international influence. So, these under 30s, dreaming of being successful entrepreneurs, listen to him recount his rise. In the host’s wallet, there are pearls and pearls: above all luxury establishments in Versailles, Roissy, Jerusalem and Bordeaux, but also stores operated under the Galeries Lafayette, La Grande Récré brand… Navigating Between the Gironde capital and Paris, Michel Ohayon has built a small empire in three decades combining downtown real estate and shops.
After the first confinement linked to the Covid crisis, his hunger increased tenfold. At that time, the opportunities for buyouts at bargain prices abound. At the controls of the Financière immobilière bordelaise (FIB), Ohayon takes over, in quick succession, two networks in poor shape and well known to the general public, Camaïeu (2020) and Go Sport (2021), with the promise of straightening them out. Result of the races: the distributor of women’s clothing closed its doors in September; the second is far from out of business… What a curious character, this Michel Ohayon. Before these two acquisitions, it was not uncommon to come across his interviews in the press. Then nothing. Radio silence. He refused our requests on several occasions.
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His story as presented is beautiful. Born on July 7, 1961 in Casablanca, he landed at the age of 2 in Mérignac, in the near suburbs of Bordeaux, from Morocco. His parents are fabric merchants. Life is sweet under the sun of the Southwest: on the benches of the university, Michel Ohayon is interested in economics. At the end of his studies, he benefited from a helping hand from his parents to open, at the age of 22, his first men’s clothing store, in the Meriadeck district of Bordeaux. It is a franchisee of the Daniel Hechter network. Very quickly, he strengthened himself: he got his hands on 10 or 15 stores in this network. The figure varies from one press article to another.
Litigation
In the 1990s, he continued to network in downtown Bordeaux until he became one of the main landowners. With his brother and his wife, he bought many buildings there in the city’s golden triangle, refurbished them and rented them to brands, often ready-to-wear, such as H & M, Zara, Celio, Etam, Mac Douglas… These operations are financed through loans or partnerships. Bingo. “I understood the relevance of investing in buildings with potential, then going to convince clothing chains to come and set up a shop there”, he confided to Forbes. Helping his appetite, he tackled other French cities… At the same time, he won the Grand Hôtel, a Bordeaux institution which he renovated from top to bottom, imposing himself in the local landscape and forging the reputation of a formidable real estate specialist. He is not the type to be afraid of litigation. So much the better. Because it is a great classic in this sector of activity. The most resounding case so far – and which he won – concerned late payments from his suppliers. “A company’s problem is managing its cash flow,” he said.
Before the episode of the liquidation of Camaïeu, all of its assets were estimated by observers at 2 billion euros. Problem: through the FIB, he owns a galaxy of non-consolidated civil real estate companies with complex financial arrangements, in which the Bank of China is one of the protagonists. What prevents to measure well the contours and the solidity of its empire.
The Trump model
“For me, the pure players like Amazon are more at risk than neighborhood merchants. This is how he justified his thirst for business. La Grande Récré, Camaïeu, Go Sport…, brands with exceptional locations, in short good real estate. With Camaïeu, Michel Ohayon missed his turnaround bet. Its liquidation was resounding, leaving more than 2,100 employees on the floor in September. Now, it is the 2,160 employees of Go Sport who are worried about a possible sinking.
We lend Michel Ohayon a penchant for politics, a love for the sea, or even a passion for Marc Chagall. He would also love the management manuals. “From Trump to Steve Jobs, I consumed without moderation all these bibles dedicated to visionary and sometimes divisive minds. Very early in my career, I wanted to understand the key to their success. This summer, he still appeared in the 104e place in the ranking of the professional fortunes of Challenges. Often the entrepreneurs that come across Point do not appreciate this list. In 2016, he told us about it: “It allows you to find your bearings and create emulation, because I am not ashamed of succeeding. I take risks, I often fail, but when I succeed, I’m proud of it. »