The family of Michel Richard, chairman and CEO of Paraboot, has bought back the 16 percent stake that it had sold about 20 years to 3i, the big British investment fund, to help finance its development. The transaction was financed with the company’s own funds. Paraboot was profitable on sales of €19.5 million in the financial year ended last Aug. 31, of which about 25 percent were generated outside France. It still employs 200 workers in France, but it recently outsourced some of the stitching and other operations in Portugal, Spain and Italy. The company has 15 stores, 13 of which are located in France. It wants to expand its French store network to 25 units and rely less on multi-brand stores, which are now more than 600. Richard’s daughter, Clémentine Colin-Richard, recently became Paraboot’s design director, coordinating the work of freelance designers specializing in men’s and women’s footwear.