PARIS — The French groups Michel Dervyn and Vog said Monday that they are joining forces to create France’s second-largest salon chain.
“Vog enters into the capital of Groupe Michel Dervyn through a capital increase,” stated the companies jointly.
Terms of the deal were not disclosed.
Under the agreement, a new entity, called World Hair Concept, will be formed. It is to unite 734 salons in France from Groupe Vog under the Tchip, Exclusif, Vog and Claude Maxime names, as well as the 200 Groupe Michel Dervyn salons carrying the banners Fifty, Shampoo Michel Dervyn and Alexandre de Paris. Altogether, the offer ranges from low cost to luxury.
World Hair Concept, which trails only Provalliance domestically, is billed to be the world’s fifth-largest salon group, with about a hundred international locations in some 10 countries.
“From its creation, the group allows franchises — current or future — to have access to the most extensive choice in terms of commercial positioning with chains acclaimed by clientele,” the statement read. “Existing or future franchises at World Hair Concept can develop numerous complementary salons with the same group franchisor.”
You May Also Like
“Our objective is to open about 500 more salons in the next five years,” Dervyn and Franck François, Vog’s founder, jointly stated.