Who
are
we ?
IN A FEW
WORDS
BUT it’s 50 years of creativity in the service of home furnishing.
Since the beginning, we have always maintained the identity of a retailer abreast of the times. We invented the ready-to-furnish concept in the 1970s to democratize access to furniture, equipment, and interior decoration.
Always devoted to a “better living”, we have now become
AND MULTI-SPECIALIST,
HOUSE FURNITURE NETWORK
WITH MORE THAN 340 STORES IN FRANCE
BUT, it’s a point of sale less than 20 minutes away from 80% of the French population! We are proud of this proximity, and it is a reassuring asset for our customers, with whom we have created a unique bond.
Furniture, decoration, bedding, kitchens, household appliances, images and sound, whatever our offer, our priority remains to ally quality, affordability and availability to give everyone the opportunity to give free rein to their desires for their home, whatever the budget and without delay.
BUT has constantly evolved to meet and anticipate consumer expectations, while remaining true to the fundamental values that have structured its model and forged its personality:
# SINCERITY #PROXIMITY #USEFULNESS
These values set us apart from the rest of the retail world and are embodied every day by our teams in the practice of their profession and in their interactions with our customers.
CUSTOMERS HAVE SHOWN THEIR TRUST AND CONFIDENCE IN THE COMPANY. AS A RESULT, THE COMPANY HAS RECEIVED NUMEROUS AWARDS.
CUSTOMERS HAVE SHOWN THEIR TRUST AND CONFIDENCE IN THE COMPANY. AS A RESULT, THE COMPANY HAS RECEIVED NUMEROUS AWARDS.
BEST KITCHEN DESIGNER
OF THE YEAR
FROM 2017 TO 2025
N°1 IN BEDDING
ADVICE
2025
BEST VALUE
FOR MONEY
2025
BUT EMBODIES THE SUCCESS OF A MODEL THAT HAS BEEN BASED FOR 50 YEARS ON PROXIMITY, HUMAN RELATIONSHIPS, THE COLLECTIVE STRENGTH AND, ABOVE ALL, A SENSE OF COMMERCE.
We have considerably evolved over the last few years, both in terms of our product offering – with the development of exclusive brands – and in terms of the customer experience – with new, more scenic, and innovative shop concepts. However, we have not abandoned a principle: to offer quality products at affordable prices, and to make well-being at home affordable for everyone. BUT is also a state of mind and a group of men and women: technicians, handlers, managers, experts, salespeople, hostesses and receptionists, who work every day to provide a quality service, reliable home deliveries, products that are always better selected at the best price, a high-performance digital platform and an ever more pleasant customer experience.
The brand has undergone a real transformation in the last few years, but our goal remains the same: to be the benchmark for environmentally friendly home furnishings affordable to all.
BUT IS ABOVE ALL A UNIQUE POSITIONING!
A SINGLE BRAND
THAT MEETS
ALL THE NEEDS
FOR YOUR HOME
To each his own, to each his style. Our integrated design studio creates a wide range of products with simple, up-to-date designs, varied and inspiring styles, exclusive brands and collections that are renewed by more than 30% each year.
A POWERFUL DISTRIBUTION
NETWORK
More than 340 shops, from 1,000 to 7,000 m², throughout the country – as many stocks, and as many collection points for orders placed in shop or online – to be ever closer to our customers.
A TEAM OF TALENTED PEOPLE
WITH THE SAME
MOTIVATION
More than 9,000 employees are passionately committed to their work every day. Each of them is an expert in his or her home furnishings job: from design and sales to logistics and new technologies.
AFFORDABLE PRICES
ALL YEAR ROUND
Without compromising on quality. Our objective is to democratise our home furnishing desires and to guarantee the best value for money on each of our products.
AN EASY AND SIMPLIFIED
SHOPPING EXPERIENCE THROUGHO
THE CUSTOMER JOURNEY
From the decoration to the staging, through exclusive offers, everything has been thought out so that each customer has an immersive and inspiring experience. Easy payment, immediate stock availability and expert advice are some of the advantages that make the difference and the strength of the brand.
A FAIR PRICE BETWEEN
RESPONSIBLE
CONSUMPTION AND
AFFORDABILITY
We want to accelerate our transition process throughout the life cycle of our products by strengthening our collaboration with local suppliers, developing eco-design for our exclusive brands, improving the durability of our products, developing second life and repair services.
OUR
HISTORY
50 YEARS OF DARING TO SERVE
FOR HOME FURNISHINGS
That opens a new era in home furnishing. BUT creates the concept of furniture and household appliances affordable to all, available from stock and without delay.
BUT launched the Boom Boom card in partnership with Cetelem, which became the BUT card in 1998 and attracted more than one million holders.
BUT invites itself into 5 million French homes.
and launches two new franchise shop concepts - BUT City (urban customers) and BUT Cosy (rural customers) - with 63 shop openings in order to be as close as possible to its customers.
BUT is the first home furnishing network.
number 2 in European furniture
the new group is the leading furniture retailer in France.
KEY
FIGURES
FRENCH FURNITURE
INDUSTRY
a successful model
HAS DOUBLED IN 20 YEARS
• 11% market share in the french furniture sector (2024)
• 160 million visits per year of which 125 million online
THAN 390,000
COLLABORATORS
• more than 10,000 BUT product references in shop
• 5 exclusive brands and 6 own brands
• 90%, the percentage of BUT brand awareness
A CUSTOMER COMMITMENT
THAT IS PART
OF OUR DNA
A DISTRIBUTION
NETWORK
ANCHORED IN
THE TERRITORIES
THAN 340
THAN 20
FROM A BUT SHOP
• more than 130 franchised shops
(including 13 in the French overseas department and region)
• more than 210 integrated shops
OUR
STRATEGY
THE OBJECTIVE IS TO BECOME NUMBER ONE, AT OUR OWN PACE, WHILE PRESERVING OUR VALUES.
Our priority is to combine quality, accessibility and availability, while remaining true to our value of a “better living”. We want to attract a greater diversity of consumers, of all ages, tastes, styles, desires and budgets, and above all meet their new expectations in terms of social and environmental commitment. Our ambition is to be the benchmark for home furnishings that are affordable for everyone and respectful of the environment. As a major player in the furniture industry, we must set an example and be responsible retailers who are aware of our impact.
AS A MAJOR PLAYER IN THE FURNITURE INDUSTRY, WE MUST SET AN EXAMPLE AND BE RESPONSIBLE RETAILERS WHO ARE AWARE OF OUR IMPACT…
...TO THIS END, THE STRATEGY
SUCCESSFULLY IMPLEMENTED SINCE 2016, WHICH HAS BEEN INTENSIFIED IN 2019,
IS ENTERING INTO A NEW AND DECISIVE PHASE.
INNOVATE AND REGULARLY
REVISIT
OUR RANGES To offer a modern,
trendy, responsible and affordable range.
For over 50 years, BUT has been evolving and adapting to the needs of its customers.
Our product managers and designers propose a wide range of products for the whole house, according to trends, styles and inspirations.
We design in-house exclusive collections that are in tune with the times. Our integrated design and styling studio strives to create products that are trendy and respectful of the know-how.
True to our promise of making home wellness affordable for everyone, our products are designed for first-time buyers, students and customers who want to indulge themselves on a limited budget. We are convinced that price should not be a factor limiting the desires and especially the needs of consumers in terms of interior design.
BUT wants to make style and quality affordable to everyone, so that everyone can move forward with their projects at the pace they want without waiting.
IMPROVING THE SERVICE TO OUR
CUSTOMERS BY MODERNISING AND
EXPANDING OUR NETWORK of shops and our internet offer
BUT now has the densest network of shops in France offering all the equipment for the home: furniture, decoration, bedding, kitchen, household appliances, image and sound.
Over the next five years, we plan to renovate a large part of our network under a new BUT concept, both in franchises and in integrated shops. From the decoration to the staging, everything has been thought out for an even more immersive and inspiring experience This new shop concept illustrates the multi-specialist brand’s desire to offer a new customer experience. On the one hand, thanks to digitalization, which optimizes the shopping experience (animated screens with information, promotions, live configurations, etc.) to encourage immersion, and on the other hand, thanks to a broader offer that meets all the needs of home furnishings, structured in 4 universes: kitchen, decoration, day space, night space.
#CUSTOMEREXPERIENCE #INSPIRATION #DIGITALISATION
Our spaces have been reorganised and redesigned, and the merchandising has been particularly well thought out. As a strength and added value of the brand, the shops still have large warehouses to ensure maximum availability of products. In line with consumer expectations, BUT continues to place customer satisfaction at the heart of its strategy.
This renovation programme is also an opportunity to improve the working comfort of the shop teams by renovating the social premises and offering new tools and working clothes.
BUT is also an omnichannel approach that has developed and accelerated over the last 5 years. The integration of new services, such as after-work delivery for customers in French cities, the improvement of the customer experience combined with the launch of our marketplace in 2019 and partnerships with major French digital players have enabled us to meet the new expectations of our customers.
FOCUSING ON
OPERATIONAL
EFFICIENCY
Logistics supports and accompanies the group’s growth and the development of our omnichannel model. One of the key issues in our business is the availability of products at all points of contact to ensure customer satisfaction.
Our daily challenges are to optimise stock management and forecasting, to reduce delivery times, to create trustworthy partnerships with our suppliers in Europe, Asia and Brazil, to guarantee efficient after-sales service while reducing our costs, with the sole objective of improving the customer experience.
#AFFORDABILITY #AVAILABILITY #CUSTOMERSATISFACTION
The continuous improvement of operational efficiency is a virtuous circle that allows us to remain competitive and to always offer the most affordable products to the greatest number of people, without delay.
COMMITTED TO A
MORE RESPONSIBLE WORLD
Sustainable growth is above all profitable growth. BUT is a large company that has a significant impact on its environment. We have also become leaders in certain markets and we have plans to continue our development by further improving our environmental impact.
This leadership also gives us more responsibilities and is accompanied by reflections on our practices, our ways of doing things and our business.
The rewriting of the CSR roadmap is part of this approach, part of this logic. BUT is a responsible player from an environmental and social point of view. Numerous examples of collective or individual initiatives illustrate this “state of mind”.
We have built an ambitious plan called a “better living” to take this approach further, given the climate emergency that concerns us as much as it does all our customers.
BUT is committed to an even greater degree of eco-design of products, recycling and limiting its carbon impact. BUT has a role to play.
OUR
MANAGERS
BUT is a popular French brand, today nº2 in the furniture market, which has managed to retain the agility of a fine SME thanks to a local management and strong entrepreneurial values - resilience, humility, transparency, independence - and a local presence throughout France.
BUT IS CONTINUING ITS DEVELOPMENT UNDER THE IMPETUS OF A MANAGEMENT TEAM COMPOSED OF EXPERIENCED AND COMPLEMENTARY PROFILES, LED BY ALEXANDRE FALCK.
Alexandre Falck
CHIEF EXECUTIVE OFFICER
Alexandre Falck has been the Chief Executive Officer of BUT since October 2018. He began his career at Arthur Andersen, before joining Carrefour, where Alexandre Falck held various positions in financial and operational management, including Hypermarket Director and Regional Director in France and Asia. In 2009, Alexandre Falck took over the management of Carrefour Market in France. He then joined Kingfisher as General Manager of the low cost DIY store Brico Dépôt. In 2016, Alexandre became General Manager of Les Mousquetaires Group before joining BUT. He is a graduate of the French École Nationale Supérieure d'Agronomie et des Industries Alimentaires and of a master’s degree in HEC Entrepreneurs Paris.
Anne-Laure FELDKIRCHER
Managing director of BUT
Graduated from Essec and Sciences Po, Anne-Laure Feldkircher, 40 years old, has held executive positions in the retail sector for over ten years. She began her career as a consultant at the Boston Consulting Group before taking on strategic and operational roles at Maison Hermès and later at Groupe Casino. In 2018, Anne-Laure Feldkircher joined the Fnac-Darty group as Director of Strategy and M&A. After serving as the Group’s Executive Director in charge of strategy, she has been leading Fnac Darty’s service activities since early 2023. A member of the Choiseul 100 ranking of French economic leaders under 40 since 2020, Anne-Laure Feldkircher is particularly committed to gender equality.
Etienne Bodin
Director of Public Affairs, Institutional Communication, and CSR at BUT-CONFORAMA
Holder of a Master's degree in History and a Master's in Public Management and Policy, Étienne BODIN began his career as a parliamentary assistant and then as a ministerial advisor. He then spent five years as Head of Communication and Institutional Relations at the French Furniture Federation. In 2018, he was appointed Managing Director of the Federation of Garden Centers and Pet Stores of France before joining Leroy Merlin in 2022 as Director of Public Affairs.
Igor Chaine
Director of Transformation BUT-CONFORAMA
Igor Chaine has been the Secretary General of the BUT-Conforama Alliance since November 2021 and the Director of Transformation at BUT-Conforama since January 2024. He began his career at Kea & Partners in 2010, a strategy consulting firm, where he quickly specialized in the retail and consumer goods sector. He left Kea & Partners in 2021 to join BUT-Conforama. He holds a degree from EM Lyon (MSc in Management – major in Finance and Strategy, 2005-2009).
Vincent Dosne
Head of Store network at BUT
Since January 2019, Vincent Dosne has been in charge of the management and animation of the network for the integrated and franchised shops of the BUT brand. He began his career at Conforama in 1988 where he held various operational and management positions, including Regional Director and Purchasing Manager. In 2009, Vincent Dosne joined the management committee of Bricôt Dépôt as Operations Director before joining BUT. He is a graduate of the IUT in Reims.
Christelle Dufour
Managing Director of Administration and Finance BUT-CONFORAMA
Christelle Dufour serves as the Chief Financial Officer of BUT/Conforama. A graduate of the École des Mines de Nancy, she began her career in 1995 at Crédit du Nord. She then joined Groupe Casino, where she held various positions in its e-commerce and logistics subsidiaries before becoming Chief Financial Officer for Géant hypermarkets and Casino supermarkets. A year later, she was promoted to the same role for the Casino France entity. In 2014, Christelle Dufour became Vice President of Consolidation and Management Control at Big C Supercenter, Casino’s Thai subsidiary. Following Big C’s sale by Groupe Casino, she joined its new owner, Berli Jucker Group, in 2016. In 2017, she was appointed Chief Financial Officer of Big C Supercenter before returning to France in 2018 as Chief Financial Officer of the Feu Vert Group in Lyon.
Aurélia Lempereur
Director of Development and Real Estate BUT-CONFORAMA
Aurélia LEMPEREUR joined BUT in October 2022 in order to assist the Operations Department with all its real estate issues and to find locations to continue the brand's deployment and reputation. Aurelia, a graduate of INSEEC Paris, joined Carrefour as a Store Manager, working closely with the teams and consumers. After 5 years in the field, she joined the head office as Expansion Manager for the Île-de-France region. She was responsible for the real estate development of the Hyper, Super and Proxi companies. In 2015, she joined Carrefour Property to develop the 500 Carrefour Market sites owned by the group. She then became Director of Asset Management for France.
Thierry Lernon
Head of Sales, Digital and Marketing at BUT
Thierry Lernon is General Manager of marketing, customer experience, data and e-commerce at But, since 2019. Before joining us in 2014, he held various web and marketing positions for the Kering Group (formerly PPR Group) in France, Sweden and the United States. He became head of e-commerce at La Redoute in 2006, then joined Made In Design before becoming general manager of Virgin Mega in 2011. He graduated in finance from the University of Paris II Panthéon Assas and from the Institut d'Etudes Politiques of Bordeaux.
Gilles Rey
Chief Operating Officer
Gilles Rey is General Manager of Operations since 2019. He started his career at Kiabi where he managed the Supply Chain in Asia before joining the Auchan group in 2003 as Director of Operations. In 2010, he joined Brico Dépôt where he was Director of Purchasing and Quality before becoming Director of Logistics and Merchandising. Before joining BUT, Gilles Rey was Sourcing Group Director at Kingfisher. He is a graduate of the University of Paris I La Sorbonne and of the Institut d'Etudes Politiques de Paris.
Laurent Seifert
Chief Purchasing Officer BUT
Laurent Seifert has solid experience in home equipment, gained through a rich career both in France and internationally, during which he notably worked for XXXLutz and Conforama. In 2017, he joined But’s team as Commercial Director for Furniture and Decoration, where he made a significant contribution to renewing the product offering. In 2021, he was appointed Commercial Director of Conforama, highlighting the opportunities offered by the Alliance in continuing to improve the offering and structuring merchandising to drive the brand's growth. Since March 2024, he has been responsible at BUT for managing the Purchasing, Design and Style, Offer Marketing and Pricing, Quality, After-Sales Service, and Sourcing departments.
Frank Wendling
Chief Human Resources Officer BUT
Frank Wendling has been the Chief Human Resources Officer since 2010. He began his career at the social council of PSA, before becoming the Director of Human Resources at FNAC in 2002, and then at Printemps Haussmann in 2004. He joined Conforama in 2006 as Director of Social Development France and Director of Human Resources. Frank Wendling is also the Chief Executive Officer of BUT SAS and BUT SAS International. He holds a degree in Human Resources from I.A.E. Bordeaux.
SHAREHOLDERS
BUT is owned equally by WM Holding (a company associated with the XXXLUTZ group)
and by the American investment fund CD&R via the company Mobilux.
XXXLUTZ : 70 years of experience in home furnishing. The Group has a turnover of 12 billion Euros, including all associated companies and the recent acquisitions of BUT and Conforama.
15 COUNTRIES, n°2 in Europe for furniture,
n°1 in furniture in France
(BUT and Conforama)
OF EXPERIENCE
IN HOME FURNITURE and owned by the Seifert family
TURNOVER Companies associated with the XXXLUTZ group
including But and Conforama
CD&R, Clayton, Dubilier & Rice :
American investment company founded in 1978,
provides long-term support to
retail and industrial companies.
OF EXPERIENCE
IN PRIVATE EQUITY
Finance
Stay Connected
