Lucibel takes over Cordel, #1 french retail lighting

Lucibel, the French specialist for LED lighting, announces its purchase of 100% of the shares in the company Cordel. Founded in 1996, Cordel is the only European company specialised in shop lighting and is the market leader in this sector in France. With this take-over, Lucibel places “shop lighting” at the core of its development strategy.

The company, which has been profitable from day one, registered an annual turnover of 10 M€ in 2012. The company’s clientele base comprises more than 30,000 sales outlets, 17,000 of which are clothing stores, 4,000 chemists and 1,000 jewellery stores. Thanks to its incorporation into the Lucibel group, Cordel now benefits from the expertise and LED technology know-how of the Lucibel R&D teams specifically targeting the shop lighting sector.

This means that Cordel will become the first company in France to propose a complete range of LED lighting products in this specific sector and hence meet the ever-increasing demands and expectations of its customers with regard to new generation lighting solutions.

For Lucibel, “shop lighting” has become a sector of priority in its development strategy. LED lighting is indeed particularly well suited to this market sector as it not only offers a considerable reduction in energy consumption, maintenance and air conditioning costs, but also offers enhanced valorisation of the products on display in the shop with a subsequent significant increase in turn-over for the retail outlet concerned.

Fabien Mevel, Managing Director and majority shareholder in the company Cordel, joins the Lucibel group as Delegate Managing Director and member of the board of Directors of the newly formed group. When explaining his reasons for joining forces with the Lucibel group, he declared: “We receive an ever-increasing number of requests for LED lighting solutions from our customers and the traditional players in the world of lighting have not mastered this new technology. The incontestable technological leadership of Lucibel in the field of LED lighting has convinced us that joining forces with Lucibel is the best way of guaranteeing Cordel’s customers that they will continue to benefit from the most innovative and efficient technical solutions available on the market. Furthermore, we also intend to implement the Cordel business model at an international level, in particular in countries where Lucibel has already set up branch offices.”

Frédéric Granotier, Chairman and Managing Director of Lucibel also declared: “The incorporation of Cordel into the Lucibel group is a major step towards the strengthening of our group as it validates the position and business model of Lucibel. With the European LED lighting market the way it is today, companies who limited their activity to the simple import of low-quality, badly-designed Chinese LED products are currently in an extremely delicate financial situation. Lucibel is able to confirm that it has fully mastered the design of LED lighting products and possesses the expertise necessary to guarantee long-term success. Indeed, as LED technology is rapidly evolving, only continuous product innovation and the development of high-end products will allow profitable acquisition of market share and successful deployment of an external expansion strategy. In the world of lighting, which has been turned upside down by the introduction of electronic circuitry, the objective of Lucibel is to consolidate its position by acquiring other skill sectors in the coming months, both in France and abroad.”
The take-over of the company Cordel was paid for essentially with shares in the company Lucibel, a fact which bears witness to the confidence the Cordel shareholders have in the future success of this newly formed group.

About Lucibel:

The innovative French company LUCIBEL designs its products in France and manufactures them in its own factory in Shenzhen (China). These products and lighting solutions based on state-of-the-art LED technology are then sold in more than 30 countries.

Cordel, with head-office in Bénodet (Brittany) and coverage throughout the entire country, employs a workforce of 60 persons and carries out more than 20,000 maintenance interventions per year for its customers.

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