Banking giant Société Générale wants to sell France-based digital auto retailer Reezocar and is hoping to find a buyer before the end of the year. This follows the departure of Reezocar co-founder and long-time CEO Laurent Potel in February.

As per French legislation, Reezocar’s 200 employees were informed at the beginning of a three-month consultation period with the company’s CSE (Comité Social et Économique — works council).

Reezocar was founded in 2014 by Potel, Vincent Deboeuf and Vladimir Grudzinski and acquired by Société Générale in 2020. The company has two physical points of sale — in Lille and Paris, in addition to its e-commerce offering.

The bank launched an auto e-commerce site in conjunction with Reezocar in 2022, but this strategy didn’t work, and Société Générale is now seeking to cut its losses.

Reezocar currently has 10,000 listings, and it had 590,000 visits in April according to Similarweb data.

The AIM Group has contacted Reezocar for comment and will update this story if a response is received.

 

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