L'Amy, the recently reorganized French eyewear group, has taken over a smaller competitor, Lunettes Grasset et Associés, reinforcing its leadership in France and coming closer to its corporate goal of reaching an annual turnover of at least 700 million French francs (e107m-$88m) within the next few years. The two companies will remain juridically distinct, but L'Amy will provide Grasset with its own support in terms of technology, manufacturing, marketing and distribution.
The takeover was announced today. Further details will be available at the Silmo show in Paris over the next few days. As we have reported recently, L'Amy is now recovering from data processing problems that caused its sales to decline last year to 448 million French francs (e68m-$57m), of which 170 million FF (e26m-$21m) were generated in France. Grasset had sales of 70 million FF (e11m-$9m), including domestic sales of 50 million FF (e7.5m-$6m).
L'Amy has a total staff of 830 persons, with 206 salespeople. Grasset employs 60 persons, including 13 salespeople. Grasset, which is going to launch at Silmo the licensed DDP brand of eyewear for teenagers, has other important brands on its portfolio such as Seiko Titanium, Agnes B., Guy Laroche, O'Marine and Brendel.
L'Amy reportedly derives more than half of its own sales from the Lacoste brand. Besides Nina Ricci, Chevignon and Chaumet, it recently added the Jeep and Kipling brand names and signed a deal with Rem Eyewear for the distribution of Timberland, Converse and Cosmopolitan glasses in selected European markets.