It's a page of industrial history that's turning in Lyon. Since January 28, Velours de Lyon has officially ceased its activities following a decision by the business court. A harsh outcome for this emblematic SME, regarded as one of the last French bastions of high-end velvet, deeply rooted in a sector historically linked to Lyon's identity.
Supplier to the houses of Vuitton, Gucci, Chanel, and Prada
The paradox is cruel: the order books were far from empty. As a supplier to luxury brands like Vuitton, Gucci, Chanel, Prada, and Armani, Velours de Lyon has nevertheless been hit hard by the consequences of the health crisis. Revenue dropped from 5 million euros to 2.5 million before bouncing back to around 4 million, but it wasn't enough to restore financial balance.
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Despite a call made on social media and numerous contacts, the takeover didn’t succeed. Only one serious project came forward, but it couldn’t gather the necessary funds. As a result, liquidation is now a reality, lacking an estimated package of 1.4 million euros. It’s a hefty sum, but quite small compared to the expertise at stake.
One last hope to save a unique craft
However, the leaders refuse to give up. Gilles Renaud states: any potential buyer can still reach out to the liquidator. The goal is clear: restructure the company, regain profitability, and most importantly, preserve an exceptional craftsmanship. A possible rescue could maintain around forty skilled jobs.
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Founded in 1977, Velours de Lyon embodies a rare excellence. Born from the merger of Bouton and Jacquard Renaud, the company produces nearly 400,000 meters of velvet each year, acting as both weaver and dyer. They cater to luxury clients as well as theaters, cultural institutions, and even the Directorate General of Armaments. This is all proof that the issue isn't demand, but rather the economic fragility of an exceptional sector.
Source: Tribune de Lyon