Petit Bateau acquisition by Regent: What's next for the French brand?

At the time of publishing, the acquisition of Petit Bateau by Regent from Groupe Rocher has not been finalised. Everything remains to be determined.

All parties involved remain tight-lipped. "Given the recent announcements, the details and terms will be discussed with staff representatives as part of the ongoing legal procedures," Petit Bateau stated in an email to FashionUnited, without adding further details.

Groupe Rocher's communications team would not elaborate further. They assured that the French conglomerate "has selected a prospective buyer based on their ability to ensure the best conditions for the brand's development, while respecting its identity and roots."

The ready-to-wear brand Petit Bateau currently employs 2,400 people: 1,400 in France (600 of whom are in distribution) and 1,000 abroad. It has three sites: a manufacturing plant and a logistics platform in Troyes and a production site in Marrakech, Morocco, opened by Petit Bateau in 1989. Currently, there is no information to suggest that the Troyes factory will be closed or that production will be entirely relocated outside of France.

However, today, the manufacturing of Petit Bateau garments is not entirely carried out in France or Morocco. Approximately 15 percent of the total (mainly woven fabrics) are produced by partners in Europe (Poland, Portugal); Asia (China, Vietnam, India, Myanmar, Thailand); and the Indian Ocean (Madagascar, Mauritius). When the press announced Regent's acquisition of Petit Bateau, many fashion players and consumers thought of its French production, fearing its disappearance.

Trade unions, in particular, are worried and are demanding guarantees. In a statement, the CGT THCB (Textile, Clothing, Leather and Laundry) federation spoke of a "purely financial game". They demanded that "firm social guarantees be imposed on the American investment fund Regent".

The union recalled the case of Dim, but cited job cuts that date back several years before Regent acquired the brand. "Since its acquisition by investment funds in 2007, nearly one thousand jobs have been cut in France, through successive relocations." However, no overall redundancy plan was publicly announced following the acquisition by the American holding company in 2022. Moreover, in 2023, Dim Brands International announced that it would repatriate over 90 percent of production to its historic site in France.

Made in France?

Petit Bateau was founded in the Aube department in 1893. "[It] is a French institution deeply rooted in Troyes, with renowned expertise, and which occupies a special place in the lives of families around the world," said Michael Reinstein, president of Regent, in a statement.

The American businessman also wanted to reassure by indicating his desire to honour "this heritage by safeguarding what makes Petit Bateau irreplaceable: its artisanal traditions, its French spirit and the trust that families place in each garment."

Although Société Nouvelle la Maille Souple, the Troyes-based production entity, is in a delicate financial situation, it should maintain its activity under Regent. Maintaining the internal production tool is essential to ensure the quality and heritage that are at the heart of Petit Bateau's value. This is a dimension that Reinstein has clearly taken into account.

For its part, Groupe Rocher says it is confident in the new owner's ability to preserve the brand's identity and "roots", which it considers to be its greatest strengths. The group chose Regent to "ensure the best possible conditions for the long-term development of Petit Bateau". This is a development that the French group has chosen not to pursue, preferring to refocus on its core business, cosmetics.

Petit bateau in the red

For several years, Petit Bateau has faced the same difficulties as other major French mid-range brands: increased competition from low-cost sales platforms and a general decline in consumption. Although in 2024 the company's turnover remained stable (78,500,603 euros against 178,281,481 euros in 2023), its deficit increased from -5.21 million euros in 2023 to -9.41 million euros in 2024.

Although Alexandre Rubin, chief executive officer of Petit Bateau, highlighted in a statement "the renewed dynamism" of the brand (B2C sales growth of +2.7 percent in the first half of 2025), the acquisition by Regent appears more like a rescue operation aimed at securing a future for Petit Bateau. To make the brand profitable again, the company's structure and organisation could be reviewed. The acquisition of struggling brands by investment funds like Regent is often accompanied by restructuring plans to reduce costs. Unsurprisingly, this review could, among other things, affect employees.

Personnel costs represent one of the largest expense items for Petit Bateau, after external charges. According to the company's annual accounts report, consulted by FashionUnited, the number of employees has already decreased in 2024 compared to 2023 (in the 2024 financial year, the average number of salaried staff was 919 compared to 946 the previous year).

Petit Bateau store in Rome. Credits: Petit Bateau

Petit bateau stores

According to figures released by the brand, Petit Bateau has 350 points of sale in France and worldwide. It produces 28 million pieces each year and generates 55 percent of its turnover in France, 25 percent in other European countries and 10 percent in Japan.

Last year, the French press reported several times on the closure of Petit Bateau stores. Managers were forced to close down due to lack of profitability. In the context of a recovery plan by Regent, optimising the distribution network will also likely be on the agenda. The holding company may choose to rationalise the store network by focusing on the most profitable locations.

The variety of the network is also a characteristic of Petit Bateau. In addition to its own stores, the brand is distributed in supermarkets, department stores, multi-brand stores, franchises, factory outlets and e-shops. This complete and diversified network could also be transformed in favour of a direct-to-consumer (D2C) strategy to strengthen the brand image and better control customer relations.

Another probability, as part of the modernisation plans, is investment in the second-hand segment. This initiative, which the brand launched several years ago, has the advantage of rejuvenating the customer base and generating increasing traffic on Petit Bateau's e-commerce site.

Who is Michael Reinstein?

President of Regent, Reinstein began his career in politics as a junior staffer in the administration of Ronald Reagan, president of the US from 1981 to 1989.

Today, Reinstein has a mixed public image: on the one hand, an active financier, recognised by the economic press for reviving or repositioning brands; on the other hand, critical voices (suppliers, former employees, local columns) denounce methods considered aggressive or negative consequences on certain acquired companies.

In 2023, a Geekwire article reported that several vendors who had collaborated with the e-commerce company Zulily, owned by Regent, claimed to be awaiting payment of invoices totalling several thousand dollars. One of the vendors indicated "having received a settlement offer from Regent after threatening legal action."

Regarding Regent's acquisition of Sunset magazine, Reinstein told the Los Angeles Times that some editors had "left the company voluntarily", believing they did not fit the new, cost-conscious approach.

Ultimately, the future of Petit Bateau under Regent remains to be written, but the focus on heritage, know-how and the maintenance of French production suggests a more cautious recovery strategy, attentive to social and industrial issues.

This article was translated to English using an AI tool.

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