Philippe Berthaux
A symbol of French corsetry dedicated to curvier women, Empreinte is currently the leading high-end name in its sector.

What were the conditions for your takeover of Empreinte in the 1990s?

Philippe Berthaux: originally, Empreinte was a family-owned company. It was created in Brest in 1946 by Jean Le Her before being run by his nephew from the 1970s. The company rapidly became a leading name in bras for curvier women, with a strongly innovation-led culture. Empreinte's notable inventions include the cup size and the strapless bra. In 1996, despite this success, no one in the family wanted to continue to run the company. It was at this time that we got in touch. At the time I was putting together an independent lingerie group with the support of a UK fund. I seized the opportunity and bought Empreinte in 1998.

Did you immediately begin a major restructuring of the company?

P.B.: To continue to exist, we had to cut costs and improve productivity. At the time, our Brest factories were manufacturing 80% of our production, with the remaining 20% done by French subcontractors. With many seamstresses reaching retirement age, we decided to gradually relocate a large chunk of the sewing element of production. These jobs were replaced by high value-added positions in design, marketing, production flows and exports. We also invested heavily in R&D in order to launch truly innovative products in partnership with our European suppliers. Meanwhile, cutting – which ensures the quality of our products – is still done 100% in Brest. All of our items are also quality checked in Brittany before being shipped out to retailers.

You have also made a strategic shift towards international operations.

P.B.: This was essential. Fifteen years ago, we generated 85% of sales in France. Today we export 60% of our production. We export to Europe, of course, but also the Middle East and North America, which still presents very strong potential for growth. At Empreinte, you now hear people speaking English, German, Italian, Dutch, Russian and Czech throughout the day.

Would you say this is a niche market?

P.B.: This was true in the 1990s, but much less so today. While our range focuses on bras from size C cup and up, this currently represents 55% of the market. Due to the food we eat and consumption of hormones, women have increasingly large chest sizes. In France, in less than a generation, women have gone up by one band size and cup size, with a standard size of 90 C. This is a global phenomenon.

Is it a very competitive market?

P.B.: Yes, but we have positioned ourselves in the premium high-end segment, where we are the leading name. Technically, Empreinte bras are recognised as the best in the world, with a unique fit. When a woman wore one of our products, she remained loyal to us for life!

Our materials are exclusive and we are the only company to use underwiring by band size and cup size. This is almost tailor-made. This excellence is also expressed in our three "Empreinte, l'atelier lingerie" concept stores in Paris, Lille and Strasbourg, which offer a completely new shopping experience. On appointment, our customers are received in a private room and try on up to 60 bras in their size. They can then have them customised on site by our couture atelier.

What is your relationship with Crédit Mutuel Equity?

P.B.: In 2003, my partners and I decided to become independent of the UK fund that was supporting us, in order to become majority shareholders of Empreinte. We looked for a local partner that could ensure real stability, particularly in order to pursue our plans for international expansion. Crédit Mutuel Equity (at the time IPO) perfectly met these criteria. Since then, I have been delighted with this choice and our relationship of trust. My contacts have never put me under pressure and have always supported me with my ambitions. They have also supported key managers acquiring a stake in the company.

What the partner says

Empreinte according to Caroline Pasquet, Crédit Mutuel Equity

Our involvement with Philippe Berthaux has been a complete success. He was the ideal person to take over this high value-added SME. He had considerable experience of the lingerie market and sound knowledge of the company.

In addition, with his teams and their advanced skills in all areas, he knew perfectly how to combine all of the aspects of a textiles company, including uniting the latest fashion trends with technically difficult products, positioning and enhancing the value of the brand by means of marketing tailored to the intimate world of womenswear in a highly competitive environment, developing sales while also maintaining solid margins, with close management of the number of products and therefore inventories, and continually adapting to rapid changes in the various distribution channels.

This is where the strength of our partnership, which takes a long-term view, lies: allowing the company to make the changes needed in order to grow. The international offensive has been a success.
Exports account for 60% of sales, generated mainly in around 15 countries and across three continents. The Empreinte universe, via the brand and products, comes into its own in a market segment – lingerie for generous sizes – that is continually growing with solid worldwide demand.

A story of growth based on trust...

Empreinte in brief

€18m

3000 retailer clients worldwide

From 15% to 60% exports in 12 years

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