Le Slip Français, the French underwear brand founded in 2011 by entrepreneur Guillaume Gibault, began trading in Paris on Tuesday as it moved onto the Euronext Growth Paris exchange. The company is positioning its public debut as a vote of confidence in locally made clothing at a time when low-cost rivals such as Shein and Temu continue to pressure the apparel market.
What started as a project to prove garments could be manufactured in France has grown into a broader clothing business. Alongside men’s underwear, the company now sells women’s undergarments, T-shirts, socks, swimwear and other items. Gibault said the listing follows a strong year, with 2025 revenue of 21 million euros, EBITDA of 2.1 million euros and net income of 700,000 euros.
Profitability and a broader manufacturing plan
The IPO was priced at 14.80 euros per share, implying a market value of about 19 million euros before trading began. Shares briefly slipped below the offer price after the debut, before last trading at 15 euros. The company’s strategy is built around its own factory near Paris, where it now produces about 4,500 pieces of underwear a day, and around automation that has helped reduce the retail price of its underwear from roughly 40 euros to about 20 euros while keeping the business profitable, according to Gibault.
Le Slip Français is also looking beyond its own label. The company plans to make clothing for other brands that want French production, a model it calls “Made in France as a service.” It aims to double revenue by 2030 by increasing its share of the men’s underwear market and growing that manufacturing business. Gibault said the company has about 4% of the French men’s underwear market and is recognized by roughly 60% of the population, which he sees as room for expansion. He also argued that global trade uncertainty is pushing more brands to bring textile production closer to home, and said the company’s next stage depends on customers and investors who believe local manufacturing can compete on quality and price.
Source: cnbc.com
