Translated by
nicola mira
Published
January 13, 2023
On January 12, French retail group Hermione People & Brands issued a short press release announcing the acquisition of the main Gap franchise in France by HPB-owned Go Sport, confirming a news agency report. Mediapart online. The acquisition comes as Go Sport is about to hear, on Monday, January 16, the decision of the commercial court in Grenoble, France, regarding the financial situation of the sports retailer. Receivership is one of the options considered.
The Go Sport store at Westfield Parly2 shopping center – DR
The Go Sport group also owns the Endurance Shop and Bike + retail chains. The announcement of the acquisition of the Gap franchise for the French market by Go Sport was discussed in a consultation between representatives of the two companies, held on Tuesday, January 10.
HPB, which also owns 25 Galeries Lafayette franchised stores on the outskirts of Paris, as well as toy store chain La Grande Récré and coffee producer Legal, said the deal “aims to strengthen the lifestyle business and sportswear [Go Sport and Gap France]each with their own independent strategy.”
Nothing was said at this stage about a possible joint sale of these two entities, a project that had once been considered by Go Sport. According to challenges magazine, Patrick Puy, who took over Go Sport at the beginning of January, is responsible for presenting the sports retailer in the best light possible, with an eye to selling it.
In just three years, HPB has established itself as a major player in French fashion retail, having bought, in addition to Galeries Lafayette’s 25 branches, also Camaïeu in 2020, and Go Sport (which operates 223 stores) and Gap France. (with 22 stores) in 2021. Following the liquidation of the Camaïeu holders in 2022, the question is whether HPB plans to exit the personal goods sector.
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