Noz, a specialist in inventory clearance, has made a significant purchase at auction after French fashion retailer Camaïeu filed for bankruptcy. Following a ruling by the Lille trade court in September, Camaïeu went into liquidation, leading to an auction of its inventory on November 2 in Vendeville, northern France. Noz, which specializes in inventory clearance across various sectors, bought the majority of the stock. The auction was organized by court-appointed auctioneers Mercier et Cie and featured twenty lots of Camaïeu’s inventory. The total value of the goods was €48 million, and Noz paid €3.8 million for the inventory, excluding stock from Camaïeu stores in Corsica and Monaco.

Founded in 1976, Noz is a cut-price and inventory clearance specialist with a strong presence in France. It operates over 300 stores and 12 logistics hubs, generating annual sales of €550 million and employing nearly 6,000 people. However, the company recently faced sourcing problems, leading to the closure of 24 stores in September 2022. The acquisition of Camaïeu’s inventory is expected to help replenish Noz’s shelves, with the clothes becoming available in their stores within three weeks.

After the liquidation order, Camaïeu held three additional days of sales in all its stores to raise funds for employee redundancy payments and job redeployment costs. These extra sales generated €25 million. Two years ago, Camaïeu was acquired by Hermione People & Brands, a retail operator that collaborates with prominent French retailers such as Galeries Lafayette, Go Sport, and Gap France. The bankruptcy of Camaïeu highlights the challenges faced by mid-range womenswear brands in an increasingly polarized market, where budget retailers and premium and luxury labels dominate.

Useful links:
1. Noz Official Website
2. Camaïeu Official Website