Baker McKenzie has advised the Children Worldwide Fashion Group (CWF) in its partial takeover bid as part of the disposal plan for the activities of the Kidiliz group, which is in receivership. The objective of this operation is to have the CWF group take over the licence activity with the Kenzo and Paul Smith brands, in order to create commercial synergies and ensure the continuity of the activities taken over.
By judgement on November 23, 2020, the commercial court of Paris pronounced the partial sale of the Kidiliz group assets to the CWF group and to the companies IdKids, Vincenzo Zucchi and Hanes France. The total selling price amounted to €3.8m.
The European leader in the high-end children’s fashion market, the CWF group designs and produces nearly 55 new collections per year for 12 brands, including 3 of its own brands, and distributes its clothing items via 2500 sales outlets, representing a total revenue of €160m.
To carry out this operation, Baker McKenzie’s team included Hector Arroyo, Partner, Antoine Santoni and Martin Noire, associates, on restructuring aspects, Léna Sersiron, Partner, Elodie Massin, Counsel, Romain Travade, senior associate and Laurianne Coq, associate, on contracts and competition aspects, Jérémie Paubel, Partner and Eric de Laboulaye, associate, concerning social matters, Nathalie Marchand, Partner, and Audrey Bovie, associate, on issues relating to intellectual property, Fabrice Varandas, Counsel, Kelly Ruster and Raphaëlle Cayla, associates, on property related matters and lastly Magalie Dansac Le Clerc, Partner, and Bérénice de Wailly, associate, on IT aspects.
The Kidiliz group was assisted by its court-appointed receivers Solve (Florent Hunsinger and Alexandra Bouton) and Thévenot Partners (Aurélia Perdereau and Pierre Launay) and by its official receivers MJA (Julia Ruth) and BTSG2 (Antoine Barti).
The Kidiliz group was advised on legal aspects by Clifford Chance (Delphine Caramalli, Marie Crumière and Louis Nerson), on the financial side by KPMG (Barema Bocoum and Stéphanie Durand) and on social matters by GM Associés (Etienne Masson).
The prospective buyer IdKids was advised by GKA (Gilles Grinal).
The prospective buyer Vincenzo Zucchi was advised by T&A Associés (Laurent Azoulai and Camille Grangier)
The prospective buyer Hanes France was assisted by Veil Jourde (Nassim Ghalimi and Mathilde Roussseau).