Flamant informed its employees earlier today of the take-over, which has been confirmed by the Brussels Commercial Court. BESIX Group announced at the same time that the 79 active employees of Flamant will be kept on. Alex Flamant, the company’s founder, will also stay on as Creative Director. The intention is for Flamant to undergo a fresh relaunch and continue to grow in the international market. The new owner emphasises that the expertise, experience and dedication of the current Flamant team will be essential for this.
The take-over is the culmination of a process of judicial reorganisation, for which the Commercial Court gave the green light earlier this week. The company was established in 1978 and is an official royal warrant holder since 2007. The company experienced rapid growth initially, achieving a turnover of 44 million euros at its peak, in 2008. In the aftermath of the economic crisis, however, the company was forced to carry out restructuring, which led to a sharp drop in turnover.
Now that the take-over has become a reality, work is starting on a relaunch. The new structure will have no impact on the company’s stores, or its customers. Both sales and service will continue as normal.
"After an uncertain period for Flamant, we are extremely pleased with the take-over by BESIX. Under the wings of this financially strong and internationally oriented group, it is our ambition to develop synergies and together strengthen the brand Flamant and expand it internationally. With the appointment of Kurt Moons as the new CEO of Flamant, someone will be at the helm with the right expertise and the right retail experience to realize the growth ambitions together with all our employees. In addition, CFO Ivan Leus and his team remain on post. Thanks in part to their efforts, Flamant has succeeded in getting an adequate and strong partner on board. Our motivated team whose heart is really beating for Flamant is bursting with new ideas. I want to thank everyone of them for the efforts they have made to ensure continuity." Alex Flamant, founder and Creative Director of Flamant.
Belgian roots and diversification
The take-over of a well-known market player such as Flamant fits in with BESIX Group’s strategy of Belgian roots and diversification. Although the general public mainly knows BESIX Group as a global player in major construction and real estate projects - from Denmark to Abu Dhabi and beyond - Belgium remains an essential element of BESIX’s DNA. The group also intends to expand its activities further. This is highlighted once more by this take-over.
“Through the take-over of Flamant, we are taking our first steps in the retail market, but it’s absolutely a conscious decision. Not least because it has become the go-to brand in Europe for elegant and timeless interiors. We are convinced that Flamant has plenty of potential in that area and can continue to grow internationally. With our extensive business network, our strong foundations and our international footprint, we are certainly well-placed to support Flamant in this growth.” Rik Vandenberghe, CEO BESIX Group.
Kurt Moons is taking over the reins at Flamant as soon as the take-over is closed. He has extensive experience in the retail market, having worked at Brantano, Santana, Eddy Merckx Group and Euro Shoe Group NV. The group emphasises from the start that this means that the company can carry out an immediate relaunch and that the continuity of service is guaranteed. An important factor here is that the employees are being kept on, and the head office will remain in Geraardsbergen.
“Flamant is emerging from a difficult period, but can look to the future with the necessary confidence once more. Joining forces with the new owner is an important step forward for the stores and outlets, and also gives the brand every opportunity to continue to grow.” Kurt Moons, new CEO Flamant.
Flamant currently has five stores in Belgium and one in Paris. The furniture and other products are also available in more than 200 stores worldwide. The amount for which BESIX Group took over the company has not been announced.
Flamant specialises in the design and sale of furniture, interiors, lighting, soft furnishings, decoration, paints, wallpapers and many other products, in a variety of styles. The company has six of its own shops, including one outside Belgium, in the French capital, Paris. Its products are also available in more than 200 stores worldwide.
For more information: www.flamant.com