Laurent Milchior, boss of the Etam group: “Sales are deregulated all over the world … except in France”

At the head of the lingerie and ready-to-wear group Etam (Etam, Undiz, Maison 123, Livy, Ysé), 750 points of sale in France and 750 million euros in turnover in 2020, Laurent Milchior battle to put an end to the national sales – which begin this Wednesday, June 30 – to better manage stocks and favor the in-store shopping experience. He explains it to “the Obs”.

You are one of those who believe that we must put an end to the biennial high mass of the sales. Why ?

The sales are undoubtedly an important moment, because the collections are renewed frequently, and it takes periods of promotion to be able to sell the products which sell less well. But I advocate the model that exists in most other countries: in England, Spain, everywhere in the world except in France, sales are deregulated. This means that there is no longer a national date, the brands are doing promotions a bit all the time in the season, they leave when they need to leave, which allows them not to sell below their price. of returns.

In this model, the sales are not an opportunity for the brands to earn money while continuing to make a lot of margin, they fulfill their initial mission, which is to dispose of unsold items.

Do you mean that the French sales have the perverse effect of pushing brands to build up too heavy stocks, at the risk of then having to sell off?

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