Ivry-sur-Seine, September 7, 2015
FNAC GOES TO AFRICA AND OPENS ITS FIRST STORES IN
COTE D'IVOIRE
Fnac has announced the upcoming opening of its first two stores in Sub-Saharan Africa, in Abidjan, Côte d'Ivoire.
Aware of the strong growth potential of this region and the genuine appetite in many of these countries for cultural goods and consumer electronics[1], Fnac has decided to launch its development in Africa by opening next December and February, two franchised stores in Abidjan. To achieve this goal, Fnac will be able to rely on the power and expertise of the Prosuma Group, a major retailer in Côte d'Ivoire.
The Group has chosen a French-speaking country, with high growth potential, to take its first baby steps on the African continent.
The two new stores will carry all the products and services offered by Fnac: books, discs, DVD, gaming, ticket sales, IT products, telephony, connected objects, audio, photo, TV, and games/toys.
The new stores will boost the Fnac Group's international expansion strategy, while paving the way for new opportunities for the brand in a region with a high development potential.
"Fnac wishes to expand into Africa. This new location is significant in our group's international deployment strategy because entering this new continent through a foothold in a strong growth potential region will open up new growth opportunities for our group. With this in mind, Fnac will open its first two stores in Abidjan, with the backing of a powerful, influential partner, the Prosuma Group, thereby demonstrating once again the full relevance of its franchise-based development model" says Alexandre Bompard, Chairman and Chief Executive Officer of Fnac.
"The PROSUMA Group is immensely proud to clinch a partnership with such a prestigious brand as Fnac. Operating in Côte d'Ivoire for several decades now, the PROSUMA Group has been able to conquer and retain a diversified yet demanding customer base. The new products and services that will be offered by the two Fnac stores will provide Ivorian consumers, concerned about enhanced access to cultural goods, with an appropriate response to their wishes. This marks a new step towards excellence for Côte d'Ivoire, our country", declares happily Abou Kassam, Chairman and Chief Executive Officer of Prosuma.
About Prosuma: The Prosuma Group is a leading large-scale retailer in French-speaking Africa, with an active presence in Côte-d'Ivoire. It represents 18 brands and comprises 146 stores (with franchise holders and subsidiaries), 2 purchasing centers (dry and fresh goods). With nearly 3,000 employees, the Group reported in 2014 revenues exclusive of tax, franchises and subsidiaries of €265.06 million (approximately FCFA 174 billion)
About the Fnac Group - www.groupe-fnac.com: The Fnac Group is a retailer of entertainment and leisure products and consumer electronics. A leader in France and major player in the countries where it operates (Spain, Portugal, Brazil, Belgium, Switzerland, Morocco, and Qatar), the FNAC Group had a multi-format network of 189 stores (including 115 in France) at the end of 2014, plus e-commerce sites, including Fnac.com, ranked France's third most visited e-commerce site (nearly 10 million unique visitors/month). A benchmark omni-channel player, Groupe Fnac's consolidated revenues totaled €3.895 billion in 2014 and it had 14,500 employees.
Press ContactS:
Laurent Glépin : +33 (0)6 08 57 02 82 - laurent.glepin@fnac.com
Alexandre André : +33 (0)1 55 21 54 46 - alexandre.andre@fnac.com
ANALYSTS/INVESTISSORS
Nadine Coulm : + 33 (0)1 55 21 18 63 - nadine.coulm@fnac.com
[1] 42% of non-food spending in Côte d'Ivoire, of which: services (31% including Telephony, TV, and electronics) and Culture (11%). Source: Agence SAD-Marketing, Consumer studies Abidjan
