Pierre Frey Boosts Sales, Diversifies Fabric Line
August 20, 2004
PARIS, France—Since it bought bankrupt Boussac Fadini in March, Pierre Frey expects to impact every segment of the fabric business and increase sales by some 50 percent this year over last with sales in the $95 million range, according to company representatives. The acquisition makes Pierre Frey and its textile company holdings one of the largest editeurs in the world with five distinguished and diverse brands of fabric.
Each of its five houses will keep its autonomy and individual design studios, enabling Pierre Frey to offer a wide range of products and prices. "We will have strong positions in both the contract and residential markets with traditional fabrics within Braquenié brand; silks within Fadini-Borghi brand, contemporary fabrics within Pierre Frey brand; interior decor and fire-retardant fabrics within Boussac brand; and finally the 'affordable' collection marketed within Romanex, a company spokesperson said.
Pierre Frey plans to position Romanex at the beginning price point as a contract brand followed by Boussac and Fadini-Borghi with expensive silks in a good, better, best scenario. Collectively, these products and respective price points are expected to create a presence in all of the fabric market segments including hospitality, contract and home décor, a company representative said. Fadini-Borghi will allow Frey to enter the silk market for the first time. Frey is well known for prints but wants to be known as a wovens resource in the future. A keystone for Frey is its Braquinie archives of 18th Century documents, especially good for prints, the company says. In addition to its fabric collections, Pierre Frey makes a line of decorative accessories, china and furniture.
"The alliance of the two French companies whose production and operations are complementary…will maintain a strong leadership in the U.S. and international markets," said a company spokesperson. Pierre Frey will distribute sales between itself and Boussac Fadini on a 65/35 percent split, respectively, hoping to create opportunities for external growth, a company representative said.
When it bought Braquenie in 1991, one of France's best-known fabric makers, producers of fabrics used in major chateaux throughout the Nineteenth and Twentieth Centuries, Frey was generating some $35 million in sales. It acquired Lauer, a weaving mill, in the 90s, too and began to develop a furnishing line and distribution of the Yves Halard sofa line, which rounded out its product offerings. In 2003, Frey generated sales of about $60 million.
Patrick Frey is the sole principal of the company his father, Pierre, started in 1935. Patrick's battle cry is "grow or die" because it's the only way to survive in the stagnant growth of the French market, he says. The purchase of Boussac Fadini gives Frey 16 multi-line showrooms in the US and Canada plus 34 representation showrooms worldwide. Frey plans to eliminate some of these but he will keep the Boussac showroom at the D&D Building in Manhattan and expand Boussac's distribution in the U.S., the company's largest importer.
Each of its five houses will keep its autonomy and individual design studios, enabling Pierre Frey to offer a wide range of products and prices. "We will have strong positions in both the contract and residential markets with traditional fabrics within Braquenié brand; silks within Fadini-Borghi brand, contemporary fabrics within Pierre Frey brand; interior decor and fire-retardant fabrics within Boussac brand; and finally the 'affordable' collection marketed within Romanex, a company spokesperson said.
Pierre Frey plans to position Romanex at the beginning price point as a contract brand followed by Boussac and Fadini-Borghi with expensive silks in a good, better, best scenario. Collectively, these products and respective price points are expected to create a presence in all of the fabric market segments including hospitality, contract and home décor, a company representative said. Fadini-Borghi will allow Frey to enter the silk market for the first time. Frey is well known for prints but wants to be known as a wovens resource in the future. A keystone for Frey is its Braquinie archives of 18th Century documents, especially good for prints, the company says. In addition to its fabric collections, Pierre Frey makes a line of decorative accessories, china and furniture.
"The alliance of the two French companies whose production and operations are complementary…will maintain a strong leadership in the U.S. and international markets," said a company spokesperson. Pierre Frey will distribute sales between itself and Boussac Fadini on a 65/35 percent split, respectively, hoping to create opportunities for external growth, a company representative said.
When it bought Braquenie in 1991, one of France's best-known fabric makers, producers of fabrics used in major chateaux throughout the Nineteenth and Twentieth Centuries, Frey was generating some $35 million in sales. It acquired Lauer, a weaving mill, in the 90s, too and began to develop a furnishing line and distribution of the Yves Halard sofa line, which rounded out its product offerings. In 2003, Frey generated sales of about $60 million.
Patrick Frey is the sole principal of the company his father, Pierre, started in 1935. Patrick's battle cry is "grow or die" because it's the only way to survive in the stagnant growth of the French market, he says. The purchase of Boussac Fadini gives Frey 16 multi-line showrooms in the US and Canada plus 34 representation showrooms worldwide. Frey plans to eliminate some of these but he will keep the Boussac showroom at the D&D Building in Manhattan and expand Boussac's distribution in the U.S., the company's largest importer.
