Nathalie Balla and Eric Courteille, the two former managers, when La Redoute was taken over in 2014 for a symbolic euro. PHILIPPE HUGUEN / AFP
They will each receive 100,000 euros on average, following the takeover of the company by Galeries Lafayette.
The game was worth the candle! Not all employees can boast of having to share an envelope of 100 million euros. This is however the case of a thousand employee shareholders of La Redoute who will share the plump sum, or 100,000 euros each on average. This happy announcement is the direct consequence of the takeover of the online ready-to-wear business by Galeries Lafayette. The group, which had held 51% of the shares since 2018, ended up acquiring all of La Redoute last December. The 49% were previously held by the two managers and the employee shareholders. The key to this success is in particular in the sales calendar. Indeed, like most e-commerce companies, La Redoute saw its turnover, and therefore its value and that of its shares, explode during the health crisis. From where pretty repercussions today.
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The story begins in 2013 when La Redoute, then owned by Kering, was on the verge of bankruptcy. François Pinault’s group chooses to sell the company for a symbolic euro to two of its leaders, Nathalie Balla and Eric Courteille. The decision becomes effective in June 2014. With the help of Equalis Capital, a consulting firm in employee shareholding, the two bosses then open the capital of the company to employees. La Redoute then began its transformation into 100% e-commerce. Nearly a thousand of them lend themselves to the game and invest an initial bet “symbolic”, explains the press release from Equalis Capital. Jean-Marc Pénelaud, director of customer service at La Redoute, explains on France 2 that he invested 150 euros in 2014, and today has won more than 100,000 euros. “The value of the company is redistributed to those who built this successhe congratulates himself.
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Employee share ownership is gradually developing in France, especially in large groups. For Equalis Capital, the case of La Redoute is a “proof, if needed, that employee share ownership is one of the most profitable savings plans“. For Marie-Noelle Auclair, Director of Shareholding for the Eres group specializing in employee savings, “ in the SBF 120, one in three employees would be a shareholder in their company, i.e. nearly 3 million people“. TotalEnergies announced last May the increase to 7.26% of employee participation in the group’s capital. Another example, in January 2023, it was the turn of Veolia employees to become the group’s largest shareholder, with 6.5% of the company’s capital.
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