Le Slip Français goes public at €22M, betting on Made-in-France against Shein
What's the deal? French apparel brand Le Slip FrançaisDealroom has a profile for this one. Try Dealroom → listed on the Euronext Growth Paris exchange on Tuesday, at a valuation of €22.2 million. Shares priced at €14.80, briefly dipped below that level, and last traded at €15.
Why now? Founded in 2011 by Guillaume Gibault to champion textiles made in France, the company has expanded from men's underwear into women's undergarments, T-shirts, socks, swimwear, and other clothing. It reported €21 million in 2025 revenue, €2.1 million in EBITDA, and €700,000 in net income — numbers Gibault said gave it confidence to go public.
By the numbers: The strong year followed years of building its own factory near Paris, where it now produces around 4,500 pieces of underwear a day. Automation cut retail prices from about €40 to roughly €20 while keeping margins intact, according to Gibault.
What's the endgame? Le Slip Français aims to double revenue by 2030, growing its share of the men's underwear market and expanding into contract manufacturing for other brands — a strategy it calls "Made in France as a service." It holds about 4% of France's men's underwear market despite recognition by roughly 60% of the population.
What could go wrong? The brand enters public markets as fast-fashion giants Shein and TemuDealroom has a profile for this one. Try Dealroom → squeeze apparel brands with ultra-low prices. Gibault called that competition challenging but argued trade uncertainty is pushing brands to relocate production. "We all know that in every crisis there is opportunity," he said.
The signal: The listing is modest against the backdrop of Shein, which Reuters reports could IPO in September or October at a $40 to $50 billion valuation. But Le Slip Français is testing whether investors will back local manufacturing on both quality and price. "We don't expect any help. We just work," Gibault said.
Read more: CNBC
Image credit: DFID - UK Department for International Development
