Finally, the challenge got the better of the two co-founders, Kareen Maya Levy and Jacques Ravinet. Barring a major twist, the entrepreneurs will not appeal the decision of the Toulouse commercial court that ordered the liquidation of the startup Kippit on 22 September. They had until October 3 to position themselves. “It’s a theoretical delay, but hey…“comments Kareen Maya Levy.
Founded in 2018, this young company was born with the promise of marketing appliances that are durable, repairable for a lifetime and, above all, made in France. In addition to the ambition to fight against the planned obsolescence of appliances, the idea was above all to fight against the overwhelming consumption of these appliances, which are often thrown away and replaced instead of repaired.
In the space of a few months, Kippit received nearly 3,000 pre-orders for his Jaren all-in-one kettle. But the company was already working on the Toben multifunction toaster and the Fraval washing machine. Consumers also showed strong marks of interest in their two upcoming products. But they will never see the light of day unless the co-founding duo finds one or more buyers.
Need 800,000 euros
Kippit’s management initially hoped to raise a certain amount to relaunch the project with investors with an industrial profile and associated with the manufacturing industry. Above all, it was the condition to be able to appeal the liquidation to the Commercial Court of Toulouse.
“We needed a floor of 800,000 euros. Today, we have 500,000 euros contributed by three investors, including a Toulouse (…) We discussed all weekend with investors. The marks of interest are there, but the problem is that this type of decision is not taken quickly and we are in extraordinary deadlines (10 days between the formalization of the decision and the possibility of appeal, editor’s note”, testifies Kareen Maya Levy to La Tribune.
Aware that the equation is impossible to achieve in time, the leader and her associates continue discussions in hopes of finding one or more buyers in the courtroom for Kippit.
“If the project survives normally, we will not be able to be in the capital, but we are still approaching investors so that they can now make an offer in the courtroom bar. We could be employees to continue bringing the project to But finding a buyer is not easy either. “, says the manager.
A procedure initiated against the defaulting supplier
For the record, Kippit planned to deliver the first all-in-one kettles to its customers in 2021. However, delays in delivery from the supplier responsible for the stainless steel tank, DEP Industrie, put the young company in an uncomfortable financial position. “Today, a procedure is launched against DEP Industrie, but that is not what will save the company“, adds Kareen Maya Levy.
“In this adventure, our only flaw is the trust we placed in this supplier who, in the end, did not have the skills to fulfill our order”, continues Kipppit’s president.
Faced with this situation, Kippit identified and started working during the summer with an Asian industrial partner, which has the necessary know-how, to supply the first parts and fulfill the orders in progress. Subsequently, the startup’s ambition was to buy the tools used in the following months, as agreed with this foreign company, in order to completely repatriate production and thus fulfill the promise of 100% made in France appliances.
With this impending failure, in addition to the six redundancies already recorded, the project for a production plant in Ariège and its fifty associated jobs are now just a distant memory.