Nearly two months have passed since the Commercial Court’s life-saving decision, and it is time to take stock of the progress made in implementing our business continuity plan. 

An initial observation

We’ve been quite busy. We’ve been manufacturing pieces for an event organized by a major luxury brand, and our order book is full thanks to the exceptional traffic in our stores and on our website. As a result, production and delivery times for these orders have been extended.
We apologize for any inconvenience and thank you for your patience.

Second observation

In addition to our usual production, we had to set up a “turtle” task force. For the record, we hadn’t started production before the court’s decision.
We’re now up and running, but there are still many batches of turtles to produce. The first shipments have just begun and will continue through the end of June.

Third observation

Thanks to the success of the "Ulule" crowdfunding campaign, we have begun to implement the key strategic priorities of the continuation plan:

  • The first three annual payments on our debt repayment plan have been made
  • We have begun our initial investments in equipment. We have already installed a new plastering lathe and a new machine for exposing our screen printing stencils. The program to renovate our kilns has been launched, and a first round of investments for the screen printing workshop has been planned, along with the replacement of our glazing booths. This represents approximately €250,000 in investments with a threefold objective: to increase productivity, improve the quality of our products, and better protect our employees. Once this first phase is implemented, we will prepare the second.
  • We have started hiring new artisans. We have welcomed two new decorators and are currently reviewing other candidates.

Fourth observation

A successful capital increase with over 400 new shareholders.
This is unprecedented and truly extraordinary. The verification process took longer than expected. But throughout this period, the subscribers’ funds remained safely held in the bank’s escrow account.

In short, if we’re communicating a little less right now, it’s because we’re hard at work…
Nevertheless, we’ll continue to keep you regularly updated on how our plan is progressing.
See you soon!