L’Amy, the French eyewear maker, which can boast over 200 years of history, has been saved by its existing shareholder, International Luxury Group (ILG), and an American partner, MadaLuxe.
The two buyers took over, with similar stakes, the company, which has been renamed Groupe L’Amy Luxe, and its unit Henry Jullien Manufacture. The new company will continue to be based in Morez and plans to stay positioned in the high-end of the market. Henry Jullien will remain located in Lons-le-Saunier. The staff of 43 working for L’Amy and 16 at Henry Jullien has been retained.
The new company continues with its existing portfolio and is expected to add labels over the coming 18 months.
L’Amy will be able to rely on the distribution networks of its two shareholders. ILG has a worldwide network for its watch business and an eyewear distribution network covering the Near and Middle East. MadaLuxe is a leading distributor of luxury fashion and accessories in the Americas and has its own multi-branded concept stores. This summer, the American distributor announced that its e-commerce sales had risen by 500 percent between March and July driven by eyewear and watches.
The chief executive of L’Amy France, Dominique Alba, will head L’Amy Luxe. François Hibon will be in charge of sales, marketing and product development, Christophe Belloncle will be in charge of the production sites of Morez and Lons-le-Saunier and Ali Karakoc will be overseeing administration and finance.
L’Amy, which was founded in 1810, obtained bankruptcy protection from its creditors in June. L’Amy America, which is owned by ILG, was not involved in the insolvency proceedings nor in the subsequent rescue of L’Amy.