Maison Lejaby: Jean d’Arthuys succeeds Alain Prost

By

Jean-Paul Leroy

Published
Aug 3, 2015

Alain Prost, who had reacquired Lejaby in January 2012 after a court ruling, has ended his collaboration with investment firm Impala, which became a majority shareholder in October 2014. Jean d’Arthuys will succeed himas president.

A former partner of the PAI Partners fund, Jean d'Arthuys has since 2010 been responsible for the investment activity of the Fonds Stratégique d’Investissement. He has been called to lead Maison Lejaby by Impala's boss, businessman Jacques Veyrat.

This new crisis follows the announcement last December of the dismissal of one third of the company's staff. This was a job-saving plan justified at the time by the Russian crisis.   
 
'After two years of growth, especially in exports, the company's results have suffered due to the recent crisis in Russia and the Ukraine, countries that represent 30% of Lejaby's turnover', the company stated at the time in a press release.

But it must be noted that Maison Lejaby seems not to have found the right recipe to balance its books. For the fiscal year 2013-2014, closed at the end of January 2014, the company posted a turnover of €27.7 million, with a net loss of €1.45 million. In the previous fiscal year, closed at the end of January 2013, the official turnover was notably lower, at €24.3 million. Net profits amounted to €81,600. 
 
Alain Prost's goal was to give new value to the brand, by raising its level of quality to a higher range, and even to the luxury segment.

Lors de l’entrée d’Impala avait été présenté comme objectif l’élargissement de la distribution de la marque désormais positionnée haut de gamme, voire luxe pour sa ligne fabriquée en France.

Once Impala became a shareholder, the objective of expanding the distribution of the France-made brand, now positioned in the high-end and even luxury, was presented.

Impala affirmed that it was part of a long-term development plan and that it was on board for "the project, the product and the people." Moreover, Maison Lejaby had also set the objective of doubling revenue in 5 years.

But less than ten months later, all the good intentions proved that they could not meet the challenge or resist the financial crisis.

The press release announcing Alain Prost's departure specifies that he will remain a significant shareholder in the company.