AA Investments names Julien Le Bec as CEO of Bazarchic

Julien Le Bec, former chief operating officer of Smallable, has been appointed to lead the sales platform Bazarchic, which was acquired in the spring by Hong Kong-based fund AA Investments. The firm has also recently taken over Wethenew, Smallable, and L’Exception.

In December 2024, Galeries Lafayette officially announced its intention to either shut down or sell Bazarchic. Founded in 2006 and boasting a base of two million active members, the fashion portal had struggled to keep pace with competitors such as Veepee and Showroomprivé, as well as secondhand platforms like Vinted and Vestiaire Collective.

Le Bec assumed his new role in July, following nearly seven years at Smallable as chief financial officer and COO. The family-focused clothing and lifestyle retailer was acquired by AA Investments in 2024, following its entry into liquidation in July of that year. Le Bec has also held previous roles at Blackpills, Salt Mobile, and Deloitte.

AA Investments has made several high-profile acquisitions in the French fashion space. Earlier this year, it took over the high-end clothing platform L’Exception, founded in 2011 by Régis Pennel. Around the same time, the fund also acquired sneaker specialist Wethenew, a company that had previously attracted interest from Spartoo. In June, AA Investments acquired men’s fashion brand Bonne Gueule, which was under receivership at the time.

Bazarchic has faced a sharp decline in performance. According to available data, the company’s revenue dropped from €51 million in fiscal 2022 to €38.6 million in fiscal 2024. The latest fiscal year reportedly ended with a net loss of approximately €10 million and total debt of €45 million.

Primarily focused on women’s fashion, Bazarchic also offers beauty products, men’s and children’s clothing, and home furnishings. The business operates on an event-based sales model, offering deep discounts on excess stock from partner brands. Before a round of layoffs earlier this year, the company employed around 100 people.