GOLDSTORY is proud to announce the purchase of the remaining 50% shares of the French jewellery brand AGATHA from its joint-venture partner, RENAISSANCE LUXURY GROUP.
On February 26, 2021, GOLDSTORY, via its subsidiary THOM, and RENAISSANCE LUXURY GROUP, via its subsidiary ALTESSE, were appointed, by the Bobigny Commercial Court for the takeover of AGATHA.
Since February 2021, THOM and ALTESSE worked hand in hand as joint-venture partners for the recovery plan of AGATHA that was based on 4 priority levers:
- Embrace a resolutely French DNA
- Develop a strong distribution network, finding the right balance between directly operated outlets (stores or corners) and independent jewellers
- Ensure a strong online footprint, in terms of communication as well as distribution via its e-commerce website
- Ensure an international development of the brand (in Europe and in Asia)
On December 16, 2022, GOLDSTORY, via its subsidiary THOM, purchased the remaining 50% shares of Agatha to RENAISSANCE LUXURY GROUP.
THOM would like to thank ALTESSE for its successful and trustful partnership under the leadership of Eric Lefranc (President of RENAISSANCE LUXURY GROUP).
THOM has strong ambition for AGATHA and wish to give back to this emblematic brand of French jewellery, all its superb and its influence in France and internationally. The launch of a new brand platform and a new web platform in October 2022 is the demonstration of this will.
THOM is proud to welcome AGATHA’s teams as full members of the group with shared values of commitment, demandingness, team spirit, simplicity and boldness.
Forward Looking Statements
This press release may include forward looking statements. These forward-looking statements can be identified by the use of forward looking terminology, including the terms “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “should” or “will” or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts and include statements regarding the Issuer’s intentions, beliefs or current expectations concerning, among other things, the Issuer’s results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which it operates. By their nature, forward looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Readers are cautioned that forward looking statements are not guarantees of future performance and that the Issuer’s actual results of operations, financial condition and liquidity, and the development of the industry in which it operates may differ materially from those made in or suggested by the forward-looking statements contained in this press release. In addition, even if the Issuer’s results of operations, financial condition and liquidity, and the development of the industry in which the Issuer operates are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods.
About THOM
We are a leading European jewelry retailer by number of stores, with a strong position in Europe in the affordable jewelry sector. Our product offering comprises primarily precious jewelry, complemented by watches and costume jewelry. We are active primarily in France and Italy, where we hold a leading market position in each national market. Our products are available through our network of 1,016 directly operated stores and 65 corners, including 551 stores and wedding fairs in France as well as 40 corners (including one store in Monaco), 385 stores in Italy, 50 stores in Germany, 25 stores and wedding fairs in Belgium as well as 2 corners, 3 stores and 23 corners in Spain and 2 stores in Luxembourg as of September 30, 2022, as well as 6 e-commerce platforms in France and Belgium (histoiredor.com and marc-orian.com), Italy (stroilioro.com) and Germany (orovivo.de). We also have 35 affiliated partner stores in France.
We sell our products under our six complementary main banners: Histoire d’Or (393 stores), Stroili (336 stores), Agatha (36 stores and 65 corners), Marc Orian (90 stores), TrésOr (66 stores), OROVIVO (50 stores) and Franco Gioielli (36 stores). We also operate, in France, 9 additional stores under the Smizze banner.
Contact
For further information, please contact:
Carole Danel
Tel: +33 (0) 1 44 52 76 35
E-mail: investorrelations@thomgroup.com