Pindière SA, the French manufacturer of women’s footwear which has been under financial review since April, is going to resume its activities after a bankruptcy court in Angers accepted the offer by Jean-Louis Chupin, former manager of the group, in conjunction with an Asian trading company based in the Paris region. Chupin, who ran Pindière in 1990 and 1999, will re-hire 108 of the company’s 431 employees.
Re-named as Pindière Mode, the re-launched company is 60 percent owned by Sarl Princesse, which belongs to Chupin, while the remaining 40 percent stake is in the hands of JP Chaussures, a French shoe firm based at Pantin which has guaranteed production capacities in Asia. Led by Yie Ping Zou, JP is described as a company with a staff of 12 persons that enjoyed spectacular growth recently, reaching a level of more than €6 million a year lately.
Pindière’s factory at Saint-Macaire-en-Mauges, in the Cholet region, will be closed. Some 40 percent of the production, representing about 1,000 pairs of shoes per day, will be manufactured in France. The balance will be outsourced to North Africa in collaboration with Selim Belkodja, the group’s former Tunisian shareholder, and in Asia via JP Chaussures, which will act as an intermediary. All the company’s brands – Karlin Sweet, Madison, Pierre Chupin and Karston – will be maintend. The new company is aiming for €15 million in turnover per year.
The sale leaves the former Pindière group with only the Sansom operation. Earlier this year, a group of former executives took over from it Little Mary, a interesting brand of shoes for infants, in combination with a Portuguese manufacturer of children's shoes.