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Simultaneously with the request to open an accelerated safeguard procedure, DEVIALET announces a refinancing of 30 million euros during a round table led by Korelya Capital, the fund managed by Fleur Pellerin. This tour includes an option to 10 million additional euroscontributed by the company’s historical investors, reluctant to give in again. DEVIALET now records more than 226 million euros in private investment.
If no new investors participate in this fundraising, this rescue plan orchestrated by the new CEO of the company Jacques Demont is in line with what the latter had planned when he arrived last February. Conciliation with its creditors allowed the company to renegotiate the maturities of the company’s debts, in particular an EMP which weighs heavily on the company’s finances.
The strategy is now to concentrate on the high end and get out of competition with SONOS & co for which DEVIALET is not sufficiently armed. The brand new ASTRA amplifier perfectly illustrates this orientation and you will have to pay 16,000 euros to afford this little hi-fi gem. Another area of development is the deployment of the brand in China, the United States and the Middle East, the objective is to double the number of points of sale to maximize the visibility and accessibility of the brand.
