Fnac Darty
| Fnac Darty SA
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|---|---|
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| legal form | Corporation |
| ISIN | FR0011476928 |
| founding | 1954 |
| Seat | Ivry-sur-Seine , France |
| Number of employees | 14500 (2014) |
| sales | € 3.895 billion (2014) |
| Branch | Retailing and mail order sales of books , phonograms and consumer electronics |
| Website | http://www.groupe-fnac.com/ |
Fnac Darty is the name of a retail chain based in Ivry-sur-Seine , Val-de-Marne , France , specializing in the distribution of entertainment products (mainly books, phonograms and consumer electronics). The name Fnac is an acronym . Initially he stood for Fédération nationale d'achats des cadres and since the chain was opened to the general public for Fédération nationale d'achats .
history
Fnac was founded in France in 1954 by André Essel and Max Théret . Both were avowed Marxists with a Trotskyist character. According to their own account, their entrepreneurial activity was also an expression of their basic political stance, as they were able to improve the living conditions of the workers through the low prices that Fnac offered its customers. However, Théret was involved in a financial market scandal in the late 1980s and was sentenced to prison for it.
In 1996 Fnac became part of the French group PPR . This was founded in 1963 by François Pinault . In 2004 Fnac's turnover was 4.139 billion euros. In September 2006, PPR tried to sell Fnac again for two billion euros.
On June 20, 2013, FNAC was split off as Groupe FNAC SA in a ratio of 8: 1 from PPR (spin-off). For every 8 PPR shares, the shareholders received 1 FNAC share. In autumn 2015, Fnac agreed a merger with the English retail chain Darty , which failed a few months later.
As part of the internal restructuring of PPR, the financial holding Groupe Artémis became the owner of the current (2017) 38.88%.
In autumn 2015, Fnac agreed a merger with Darty . The Steinhoff International then submitted a higher offer for Darty, which resulted in April in a bidding war between Steinhoff and Fnac. In June 2016, Fnac's higher offer was finally accepted and the merger was completed. The French Groupe Fnac was renamed Groupe Fnac Darty and Darty plc was dissolved.
In July 2017, the German Ceconomy - known for its brands Media-Markt and Saturn - acquired a 24 percent stake in Fnac Darty from the family holding Artémis of the French billionaire François-Henri Pinault .
overview
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Fnac is a leader in France, Belgium, Spain, Italy, Portugal and Brazil in the distribution of entertainment and cultural products.
Fnac has built its reputation on the services it offers: product tests in the Laboratoires tests , photo development, travel agency, tickets for concerts, performances and events. Fnac is the main sponsor of the largest European comic festival in Angoulême, the Festival International de la Bande Dessinée d'Angoulême .
Fnac in German-speaking countries
The attempt to expand into the German market made in the early 1990s failed. The first Fnac branch in Germany, which opened in Meinekestrasse in Berlin in December 1991, was closed again at the end of March 1995 after the range had already been successively reduced to include certain article groups and service offers. As reasons for this failure, in addition to the unfortunate choice of the location in a side street off Kurfürstendamm with a relatively low pedestrian frequency, restrictions in force in Germany were also cited, which did not allow the Fnac concept to be fully implemented in France. For example, special opening times exclusively for Fnac members outside of the regular shop opening hours and certain of the company's discount concepts were not compatible with German regulations.
The attempt to expand into German-speaking Switzerland also failed: The branch opened in April 2008 at Barfüsserplatz in Basel was closed again at the end of March 2009, after less than a year. According to official information, the decisive factor was mainly economic reasons, the customer frequency was too low. One of the factors that played a role here was the fact that the 3200 square meter sales area was spread over a total of seven floors (plus a café on the eighth floor) and so the upper floors in particular had too few customers. Other reasons for the low customer frequency could have been the product range, which was very similar to that of the four branches in French-speaking Switzerland, or the unappealing design of the entrance area.
With the closure of the Basel branch, the expansion into German-speaking Switzerland will be stopped for the time being, the planned branches in Zurich , Bern , Lucerne and St. Gallen will not be realized. Fnac speaks of a "pause for thought" of three to four years; The idea of expanding into German-speaking Switzerland has not yet died.
facts and figures
In September 2007 Fnac had 78 stores in 56 French cities. There were also 65 sales outlets in eight other countries: 16 in Spain, 13 in Portugal , twelve in Brazil , seven in Belgium , seven in Italy , six in Switzerland , two in Taiwan and two in Greece. Furthermore, an online shop and online music distribution, FnacMusic . In 2009, Fnac opened a third store in Greece, but it was decided to withdraw from the country in July 2010.
For 2006, Fnac planned to have a quarter of its sales outside France.
The main immediate competition in France is the Virgin Megastore , followed by the French edition of the Saturn chain ( Ceconomy ). After Saturn sold its stores in France to the HTM Group (Boulanger) in 2011 and Virgin Megastore closed its stores in 2013, Fnac and Boulanger remain on the French market for entertainment media.
In 2007, for the first time in its history, Fnac announced that it would be cutting jobs. About a thousand employees are affected, 300 of them in administration, the rest in the book and music trade. At the same time, the variable, i.e. sales-related, share of employees' salaries was increased. This regulation is similar to the model used by the competition - Auchan , Darty, etc. These measures were linked to the planned sale of the company.
At the end of 2013, Fnac had 108 stores in France. In addition, there were 69 sales outlets in six other countries: 25 in Spain , 19 in Portugal , 11 in Brazil , 9 in Belgium , 4 in Switzerland and one in Morocco .
Web links
Individual evidence
- ↑ La Fnac en bref. (No longer available online.) In: Groupe Fnac website. Archived from the original on July 21, 2015 ; Retrieved July 19, 2015 (French). Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ Résultats annuels 2014. (No longer available online.) In: Groupe Fnac website. Archived from the original on July 21, 2015 ; Retrieved July 19, 2015 (French). Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ Distribution of Groupe Fnac shares to shareholders of Kering and listing of Groupe Fnac shares on NYSE Euronext Paris. In: Kering company website . April 17, 2013, accessed July 23, 2015 .
- ↑ Nick Kostov: France's Fnac and Darty Agree Merger Terms ( en ) In: The Wall Street Journal . November 6, 2015.
- ↑ Steinhoff in Great Britain with victory and defeat in the takeover business . In: finanzen.net . March 18, 2016.
- ↑ http://www.wsj.com/articles/frances-fnac-and-darty-agree-merger-terms-1446796348
- ↑ http://www.finanzen.net/nachricht/aktien/Steinhoff-in-Grossringen-mit-Sieg-und-Niederlage-im-Uebernahmegeschaeft-4788468
- ↑ Ceconomy joins a French rival. In: Wirtschaftswoche. July 26, 2017. Retrieved June 23, 2019 .
- ^ Basler Zeitung, February 20, 2009
- ↑ a b bazonline.ch: Mass layoffs: Fnac closes Basel branch (February 18/19, 2009)
- ↑ La Fnac en bref . groupe-fnac.com. Archived from the original on July 21, 2015. Info: The archive link was automatically inserted and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. Retrieved December 11, 2014.
