Paris, April 10, 2024
Roche Bobois SA (ISIN: FR0013344173 – Ticker: RBO), the international benchmark for high-end furniture and
French Art of Living
, announces that it has signed a letter of intent with a view to acquiring a majority stake in its franchisee Roche Bobois in China. After successfully carrying out franchise buyouts in the United States in 2020 and 2022 and in France in 2023, Roche Bobois SA wishes to expand its direct presence in this high-potential country in which the brand has been present since 2004.
An accretive operation for the Group from 2024
After 20 years in franchising in China, Roche Bobois SA signed a letter of intent for a majority stake of 51% in the company Shanghai Rock Castle Furniture, owner in China of the Roche Bobois brand franchise, which operates directly 3 stores (1 in Beijing and 2 in Shanghai) and manages 23 sub-franchise stores in different medium-sized cities.
In 2023, the overall business volume achieved in China represented €23 million, including €8 million from the 3 stores located in Beijing and Shanghai. Thanks to the luxury positioning of the brand, symbol of the French Art of Living, profitability is particularly high in China. The EBITDA margin of Shanghai Rock Castle Furniture is thus at a higher level than that of the United States/Canada zone (which is already the 1
er
contributor to the Group’s EBITDA with 27.1% EBITDA margin in 2023).
This capital-intensive operation would make it possible to consolidate in the Group’s accounts the turnover of 3 new directly owned stores as well as a complementary sub-franchise/trading activity.
[1]
which would also be particularly accretive to EBITDA.
This participation should be effective in July 2024.
Roche Bobois thus continues to seize new opportunities to deploy its targeted integration strategy, creating value for the Group. As part of this operation, Roche Bobois will be able to continue to rely on its partner’s knowledge of the local market and its expertise as well as the teams in place by combining the Group’s know-how in organization and management. network sales to further increase the growth and profitability potential of these new stores.
New collaboration with Chinese artist and designer, Jiang Qiong Er
As 2024 opens with the Franco-Chinese year of cultural tourism, Roche Bobois continues its prestigious collaborations and announces that it has signed with Chinese designer Jiang Qiong Er.
This new complete and original collection, inspired by Chinese art and culture, will be composed of a unique set of seats, consoles, coffee tables, ceramics, rugs and screens. Roche Bobois will preview this collection during Milan Design Week 2024 which will be held from April 16 to 21, 2024 in Milan (Italy).
Artist, designer and entrepreneur, Jiang Qiong Er draws her inspiration from China’s centuries-old culture and craftsmanship, always bringing them a contemporary, even futuristic, touch. She co-founded the luxury brand Shang Xia with Hermès in 2009, where she held the positions of artistic director and CEO. His works are exhibited in the permanent collections of some of the most famous museums in the world, such as the British Museum, the Victoria & Albert Museum in London, the Musée Guimet and the Musée des Arts Décoratifs in Paris, etc.
Among numerous international accolades, Jiang Qiong Er was selected by Forbes in 2011 as one of the 25 most influential Chinese women in fashion and lifestyle. She was named Knight of Arts and Letters of the French Republic in 2013, then Knight of the National Order of Merit in 2016. In 2023 she received the title of “World’s Most Outstanding Chinese Designer” awarded by the DFA (Design For Asia Awards).
Very recently, Jiang Qiong Er imagined and created for the National Museum of Asian Arts – Guimet in Paris, the exhibition “Gardiens du Temps” which will open on April 27, with a series of monumental and spectacular installations to reinterpret the symbols Chinese cultural and mythological. Roche Bobois is proud and honored that two exclusive pieces of furniture participate in the scenography of the exhibition.
|
CONTACT
Finance News – Anne-Pauline Petureaux
Investor relations
Such. : 01 53 67 36 72 / [email protected]
Finance News – Serena BONI
Press relations
Such. : 04 72 18 04 92 / [email protected]
[1]
Purchase/resale of goods
This publication has the “🔒 Actusnews SECURITY MASTER” service.
– SECURITY MASTER Key:
l2ufYZZtaWeZx55xlJiYZ2eZamthxWWaaGeexpOelJrKbWuTx25mbZ3JZnFmlWhq
– To control this key:
https://www.security-master-key.com.
Regulated information:
Inside information:
– Issuer operations (acquisitions, disposals, etc.)
Full and original press release in PDF format:
https://www.actusnews.com/news/85034-cp_roche-bobois_franchise_chine_def.pdf
© Copyright Actusnews Wire
Receive future company press releases free of charge by email by subscribing to www.actusnews.com