Eric and Michael Dayan, co-founders of the fashion inventory clearance website Showroomprivé, recently acquired the rights to the brand name and archives of Sonia Rykiel, a renowned fashion label. Their successful bid for the assets of Sonia Rykiel came after the label’s liquidation, and they were chosen by the trade court over approximately 20 other bidders.
The Dayan brothers, born in 1980 and 1981, respectively, in France, come from a family with a background in the fashion industry. Their father, Sam Dayan, founded France Export, a de-stocking specialist, in the late 1980s. In 2006, David Dayan, the eldest son, partnered with Thierry Petit to create Showroomprivé, a fashion inventory clearance website. Eric and Michael both played significant roles in the operation and were active as managing partners of Showroomprivé.
Michael Dayan, with a legal background, was involved in the commercial aspects of the business, focusing on decisions related to the product range, brands, and pricing. Eric Dayan concentrated on the wholesale and physical sales side of the business, running parallel to the website’s development.
Showroomprivé gradually shifted its focus to womenswear, differentiating itself from market leader Vente-Privée. In 2015, the company launched its womenswear label, IRL, with Michael Dayan’s involvement.
The acquisition of Sonia Rykiel marks the Dayan brothers’ interest in established French brands facing difficulties, following a trend among e-commerce entrepreneurs who are purchasing struggling heritage brands. Sonia Rykiel, with its iconic status in French fashion heritage, presents a new challenge for the Dayan brothers, as they must rebuild the brand from scratch.
Sonia Rykiel, facing financial troubles, was liquidated in July 2019 after failing to find a buyer. The label’s revenue had significantly declined in recent years, dropping to €35 million in 2018.
This acquisition highlights the growing interest of e-commerce entrepreneurs in rescuing long-established French brands in distress, following the footsteps of others like Spartoo’s Boris Saragaglia, who acquired footwear brand André, and Shopinvest’s Karine Schrenzel and Olivier Gensburger, who bought mail-order company 3 Suisses.
