Editor’s Note
**Editor’s Note:** Altesse, the century-old Ardèche jewelry manufacturer behind “Les Georgettes,” has been rescued from judicial liquidation by a trio of young investors. The Paris Commercial Court approved the takeover by Un bijou à Paris at the end of September, securing a new chapter for this historic gem in France’s “jewelry valley.”
In Ardèche, the company Altesse, which distributes jewelry from the brand “Les Georgettes”, has been taken over by a trio of young investors. This marks a new beginning for a century-old company, a jewel of the Eyrieux valley, known as “the jewelry valley”.
Altesse has avoided judicial liquidation. The future of this Ardèche-based costume jewelry flagship had been uncertain since May 30. The company led by Oliver Bègue, Laureen Michel, and Fabien Royer was ultimately chosen by the Paris Commercial Court at the end of September to take over the jewelry manufacturer based in Le Cheylard.
The Paris Commercial Court has decided. This takeover is good news for the sales and accounting staff. They will keep their jobs and can look to the future more serenely.
For these employees, “the story had to continue.” In total, 12 jobs are saved in Ardèche with this takeover by a company based in Hérault.
Altesse is the result of the merger of two companies founded in 1905 in the heart of “the jewelry valley” by brothers Marius and Georges Legros. Up to 1,200 people have worked in these Ardèche workshops. Despite its century-old expertise and prestige, Altesse, a company labeled “Entreprise du Patrimoine Vivant” (Living Heritage Company), found itself in great difficulty ten years ago. Taken over in 2014 by the Renaissance group, it is now changing hands again.
The trio of buyers has ambition, especially for the company’s flagship product. They want to rejuvenate the image of the “Les Georgettes” brand, manufactured by GL Bijoux but whose promotion and distribution were handled by Altesse. In 2022, the two companies cut ties, even though they were still part of the same group. This was a matter of strategy and development.
In Le Cheylard, GL Bijoux will continue to produce “Les Georgettes” for Altesse.
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This Ardèche manufacturing is a local flagship. The jewelry is unique in combining a colored leather strap with metal. It all started with cuff bracelets that quickly won over customers.
The success is explained by the very concept of the jewelry: personalization. Bracelet size, style, patterns, color of the reversible leather strap. The possibilities are endless with over 10,000 possible combinations.
Over the years, the range has even expanded to include rings and necklaces. A true success, the “Les Georgettes” brand, launched at the end of 2015, experienced its golden age in 2019 with €40 million in revenue and 170 employees across France. This Made in France product even won the favor of Brigitte Macron.
But the health crisis and the war in Ukraine put a stop to this upward curve. The former president of Altesse found himself in an untenable situation.
After strong years of growth mainly driven by the “Les Georgettes” brand, Altesse saw its development halted. But the pandemic is not the only cause. Like other players in fashion and accessories, Altesse also had to face a drop in consumption and inflation.