French store design specialist Elba sells stake to Siparex, changes name to Ora

Store layout is becoming a major commercial element for luxury labels, which are paying increasing attention to their customers’ experience in physical stores. French group Elba, founded in 2006 by Thibaut de Malézieux, has positioned itself as a specialist in designing and developing permanent store layouts, with clients such as Maison Francis Kurkdjian and Vacheron Constantin, as well as creating pop-up stores, for example for Baccarat and Guerlain.

Public investment bank Bpifrance and the Adaxtra investment fund previously bought stakes in Elba. The group has now carried out a new funding round, for an undisclosed amount, following which the Siparex Midcap 4 investment fund has invested in Elba, while existing shareholders have chipped in too.

“We are convinced that, in view of the challenges facing its customers, the relevance of the group’s positioning based on sustainability, innovation and excellence constitutes a major strategic tool to consolidate its leadership in the luxury sector in France and internationally,” said Pierre Bordeaux Montrieux, partner of Siparex Midcap, and Matthieu Adoir, the fund’s director.

In the last decade, Elba has developed various specialisms with the goal of incorporating most of the value-chain elements of its projects, from consulting to furniture production in its workshops to running in-store commercial initiatives. It has also expanded into new markets, making nine acquisitions and operating 16 subsidiaries. Elba said it is active in 36 countries with 350 employees and generates a revenue of €70 million, from 600 clients.

The arrival of Siparex as an investor is expected to enable the group to accelerate its expansion, notably outside France, and to seize external growth opportunities. The plan is to reach the €100 million revenue mark within three to five years. Elba currently has four industrial sites in France, three in the Ile-de-France region and one in Alsace.