French Converter Acquired by Kucukcalik
October 21, 2004
BURSA, Turkey – Kucukcalik has acquired Compagnie des Etoffes from the French courts in Paris.
News of Compagnie des Etoffes financial difficulties first surfaced in May. Kucukcalik, a large producer of curtain fabrics and ready-mades, has been a supplier to des Etoffes and saw the opportunity to acquire it.
Jean Marc Bloch, the previous owner and founder, and Solange Bord, the chief designer of des Etoffes, now report to Ahmet Sapmaz, the new general manager.
Sapmaz was in charge of marketing at Kucukcalik.
"Compaigne des Etoffes is now on solid financial footing," said Yilmaz Kucukcalik. He said the acquisition gives his company new energy in styling and design.
Furthermore, he looks to make other such "boutique firm" acquisition in the future.
Kucukcalik has annual sales in the $140 million range. Compagnie des Etoffes, based in Paris is a high-end converter and editeur which supplies Galleries Lafayette, a major department store chain.
News of Compagnie des Etoffes financial difficulties first surfaced in May. Kucukcalik, a large producer of curtain fabrics and ready-mades, has been a supplier to des Etoffes and saw the opportunity to acquire it.
Jean Marc Bloch, the previous owner and founder, and Solange Bord, the chief designer of des Etoffes, now report to Ahmet Sapmaz, the new general manager.
Sapmaz was in charge of marketing at Kucukcalik.
"Compaigne des Etoffes is now on solid financial footing," said Yilmaz Kucukcalik. He said the acquisition gives his company new energy in styling and design.
Furthermore, he looks to make other such "boutique firm" acquisition in the future.
Kucukcalik has annual sales in the $140 million range. Compagnie des Etoffes, based in Paris is a high-end converter and editeur which supplies Galleries Lafayette, a major department store chain.
