Le Slip Français goes public on July 14 at €14.80: What You Need to Know

A Dual-Faceted IPO: Financing and Exit for Historical Investors

The introduction on Euronext Growth, the Parisian compartment dedicated to SMEs, is scheduled for July 14th, a date highlighted by founder Guillaume Gibault as a nod to the brand's Made in France positioning. The share price is set at 14.80 euros.

The operation aims to raise 5 million euros for the company, supplemented by 7 million euros from the sale of existing shares held by investors who entered the capital ten or eleven years ago. Subscription commitments have reportedly already been obtained from institutional investors for 6.85 million euros.

If the overallotment option is fully exercised, the total amount of the operation could reach 15.8 million euros. The structure of the IPO thus combines the infusion of fresh capital aimed at industrial development and liquidity offered to historical shareholders.

A Radical Repositioning After the Losses of 2023

Initially focused on premium men's underwear 100% made in France, the company's business model was weakened post-Covid. Online sales, boosted by lockdowns, suffered due to the normalization of consumption, resulting in a financial downturn by 2023.

The brand shifted from a premium-gift approach to a more accessible offering aimed at everyday textile products. It closed most of its costly downtown stores, leaving only two compared to about twenty previously.

Production was consolidated at the Aubervilliers factory, which manufactures 25,000 underwear items per week within a streamlined range. Three machines purchased from China are intended to automate certain tasks and reduce costs. Meanwhile, a subcontracting activity called Fier(T) offers a t-shirt priced at 7.90 euros before tax to companies, associations, and institutions, along with parkas, puffer jackets, and jeans. Discussions have been mentioned with major retailers and brands like agnès b.

Financial Trajectory and Consolidation Ambitions

Le Slip Français achieved a turnover of 21.1 million euros in 2024 and posted a net profit of 626,000 euros, with a claimed customer base of 850,000. The company aims to double its turnover by 2030 and achieve an EBITDA margin of 10%.

To reach a critical size, the company does not rule out external growth operations. It has already partnered with sock manufacturer Broussaud to create « La Belle Paire, » as part of a strategy to establish a French textile industrial platform focused on everyday essentials.

This IPO comes in a challenging macroeconomic environment for consumption, as [Coface has lowered its global growth forecasts to 2.3% for 2026](https://www.ideal-investisseur.fr/eco-politique/coface-abaisse-ses-previsions-de-croissance-mondiale-a-23-pour-2026-33810.html) and anticipates an increase in business failures. For individual investors, the operation offers an entry point into a French textile SME undergoing repositioning, though the execution of its strategic plan remains to be verified over time.

Also worth reading: Should You Invest in Le Slip Français? A French IPO Between Industrial Recovery and Risky Bet