PARIS — Per week after its former French Legacy Group stablemate Clergerie was snapped up by U.S.-based Titan Industries Inc., high-end footwear-maker Heschung also has recent backing, thus avoiding liquidation.

PPL Finance, managed by investor Philippe Catteau, has taken an undisclosed stake in the corporate. It has been renamed Heschung & Cie., and Catteau will now co-manage the brand alongside Pierre Heschung, the grandson of the brand’s founder.

Their previous owner, French Legacy Group, entered receivership in April, citing long-tail effects of the pandemic and the war in Ukraine. “It’s a positive consequence for the Alsatian company, struggling as a result of the setbacks of its shareholder French Legacy Group, which recently entered receivership,” the corporate stated.

Heschung said it’s “committed to investing with a long-term vision, capitalizing on the brand’s values: authenticity, quality and French fabrication.”

“Our production shall be maintained in Alsace, and we’ll invest massively in local production and carry on the whole lot of our workforce, each in stores and within the factory,” a spokesperson for Heschung explained.

In contrast, Clergerie’s recent American owner has been criticized in France for plans to put off 55 percent of its 134 employees and to transfer production abroad. It paid 700,000 euros for the Clergerie name and committed to investing 6 million euros within the brand, which initiated a turnaround effort in 2020.

French Legacy Group, a holding company controlled by private equity fund Mirabaud Patrimoine Vivant that was created with the aim of protecting the abilities and heritage of the French footwear and leather goods sector, also owns the Avril Gau and Violet Tomas trademarks. It acquired Clergerie — then Robert Clergerie — from First Heritage Brands and fashion executive Jean-Marc Loubier in 2020, and added Heschung to its stable in late 2021.

Heschung, a specialist in Norwegian stitching, is as a result of rejoice its ninetieth anniversary next 12 months. It’s targeting 10 million euros in sales this 12 months, and plans to take a position in digital, communication and international development in addition to in production, starting this 12 months.

Clergerie was founded by Robert Clergerie in 1981 and manufactured shoes in its own factory within the historic shoemaking capital of Romans-sur-Isère, France. While the factory will proceed to operate, it is known that capability shall be significantly reduced, with much of its future production to be done in India, China and Morocco.