Christian Pellet

Nicolas Cellier, previously of Crédit Lyonnais Venture Capital, has established his own fund, Cherche-Midi, and has made an investment of EUR 1.4m in shoemaker Christian Pellet, in return for a 16% equity stake (according to the French press). Christian Pellet was founded in 1860 and is managed by Guy Rodoz. The business generated a turnover of EUR 10.2m in 2001 and net profits of EUR 445,000. It currently employs 110 staff. In September the firm will open its sixth boutique in Paris, to add to those in Nantes, Lyon, Nice and Montpelier, and intends to have 20 shops by 2006.

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