Born in Rouen in 1932, Monoprix has grown from a provincial grocery store to a French retail powerhouse conveying quintessential Parisian style.
As the chain’s CEO, Jean Charles Naouri mentioned, Monoprix appeals to time-poor hedonists. Indeed, with products priced 15% more expensive than its counterparts and a children’s range echoing the likes of Bonpoint, Naouri isn’t afraid to position Monoprix as a luxury brand.
Naouri’s involvement with the brand since 2012, when the Lafayette group ceded its 50% stake in Monoprix to the Casino group for 1.175 billion, was a major push to the brand’s new positioning. Jean Charles Narouri, Casino’s chairman and CEO took over the same role at Monoprix and expanded the retailer’s services.
After offering online selling services in 2008, the high-end supermarkets further established their new positioning via the launch of their online retailer called ‘MonShowroom’ in 2015. In addition to selling Monoprix’s own brand Clo&Se, the online marketplace also showcases articles from brands such as IRO, Antik Bantik and Ba&Sh, thus catering to affluent young and trendy young adults. Nowadays 2/3 of sales come from its supermarkets and 1/3 from clothing, health and beauty products. Monoprix is also known for constantly renewing their collections of homeware.
Nowadays, Monoprix is a force to be reckoned with in the French retail sector with over 4.2 billion € in sales for 2016. It represents 22% of French sales for Casino and accounts for 2/3 of retail trading according to BNP estimates. Furthermore, Monoprix has a 6-7% earnings before interest and tax margin excluding profit, according to Exane.
Although the French retailer saw a light decrease in sales during the first quarters of 2016, it reported a sales boost of 2.5% in the 4th quarter of 2016.
As Monoprix continues to grow and sets its sights on international goals, its management will have to find news ways to entice new clients around the world without losing its core identity. Nouari’s track record seems to confirm that the CEO is ready to take on this next challenge.