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After Tod’s<\/strong>, the Italian specialist in high-end shoes, Lalique has announced its intention to delist from the stock market.<\/strong><\/p>\n <\/p>\n On Friday May 31, Swiss billionaire Silvio Denz, majority shareholder in the Swiss group<\/strong> (with a 51.1% stake), announced the launch of a takeover bid<\/strong> to delist the company from the Swiss stock exchange.<\/p>\n <\/p>\n While the Board of Directors \u201cunanimously\u201d supports the takeover bid<\/strong>, due to start on June 17, shareholders will be asked to vote on it at the Annual General Meeting on June 28<\/strong>, Lalique explained in a press release. They have been offered 40 Swiss francs<\/strong> (40.70 euros) per share in cash, a 32.45% premium<\/strong> to the previous day’s closing price on May 30.<\/p>\n <\/p>\n <\/p>\n The announcement had a Waouh effect on the stock market, where Lalique shares<\/strong> gained 31.13%<\/strong> at 9:27 GMT, to 39.60 Swiss francs (40.4 euros).<\/p>\n <\/p>\n\n <\/p>\n While the Group’s free float is \u201cvery limited\u201d (just over 6%)<\/strong>, such a delisting will enable the Group to \u201cconcentrate fully on its activities\u201d<\/strong> and no longer bear the costs of listing<\/strong>, in order in particular to \u201cpursue the implementation of its diversification strategy<\/strong>\u201d, the press release goes on to say.<\/p>\n <\/p>\n The free float had already been reduced last year when M\u00fcller Handels AG Schweiz<\/strong> (the Swiss branch of a German specialty retailer) increased its stake to 25%<\/strong>. M\u00fcller Handels AG Schweiz and the other two main shareholders – the Indian conglomerate Dharampal Satyapal and the Swiss investor Hansj\u00f6rg Wyss<\/strong> – will remain shareholders once the delisting is completed.<\/p>\n <\/p>\n <\/p>\n Listed on the stock exchange in 2018<\/strong>, the Lalique group is a luxury outsider, present not only in crystal objects, as its name suggests, but also in fragrances operated under its own name or under license (Lalique Fragrances, Bentley Fragrances, Brioni Fragrances, Jaguar Fragrances, Parfums Gr\u00e8s, Parfums Samoura\u00ef, Superdry Fragrances), high-end hotels, suncare products (Ultrasun brand) and whisky<\/strong> (via a stake in the Scottish distillery The Glenturret<\/strong> in 2019).<\/p>\n <\/p>\n In 2023<\/strong>, sales were \u20ac179.2 million<\/strong> (27% of which were generated by the Lalique brand), and net profit \u20ac2.4 million.<\/strong><\/p>\n <\/p>\n Behind this mini-conglomerate is Silvio Denz<\/strong>, credited by the Swiss magazine Bilan<\/strong> with a fortune of 350 to 450 million Swiss francs<\/strong> (357 to 459 million euros) at the age of 67. He was the white knight of French crystal maker Lalique in 2008<\/strong>, when he bought the company at a time when it was in the doldrums. Aware of the prestige of the more than one-hundred-year-old crystal maker, and of the name of its creator (in 1888), the famous Ren\u00e9 Lalique, known for his marvellous Art Nouveau jewelry, Silvio Denz renamed his mini-group. His arrival gave a new lease of life to this crystal manufacturer of jewelry and decorative objects (vases, etc.). But the business continues to face a difficult economic climate<\/strong>.<\/p>\n <\/p>\n <\/p>\n The stock market is a source of contrasting strategies in the luxury goods sector.<\/strong><\/p>\n <\/p>\n While the Catalan beauty group Puig<\/strong> entered the Spanish stock market<\/strong> last May, Tod’s recently indicated that it wanted to return to private<\/strong> ownership and escape the pressure of the stock market.<\/p>\n <\/p>\n On February 11, a friendly takeover bid<\/strong> was successfully launched on the Milan Stock Exchange by L Catterton, the investment group backed by Lvmh<\/strong>, to acquire 36% of the Italian luxury shoe manufacturer and delist it.<\/p>\n <\/p>\n The group’s CEO and main shareholder (along with his family), Diego Della Valle, explained the decision at the time by the desire to \u201cdevelop the full potential of our individual brands, making all the necessary investments within a timeframe we deem most appropriate\u201d.<\/strong><\/p>\n <\/p>\n Last April, the French perfume group L’Occitane<\/strong> also announced its withdrawal from the Hong Kong stock exchange, to escape \u201cfinancial market pressures\u201d<\/strong> and save \u201ccommercial and administrative resources hitherto devoted to maintaining the short-term value of its share price\u201d.<\/p>\n <\/p>\n The same concern for independence and economy<\/strong> is guiding Silvio Denz in his plan to delist the Lalique group from the Swiss stock exchange…<\/strong><\/p>\n <\/p>\nWaouh effect on the stock market<\/h2>\n
Luxury outsider<\/h2>\n
To be or not to be…in the stock market<\/h2>\n
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