Store chain Monoprix, part of French Groupe Casino, entered negotiations to acquire online shoe seller Sarenza, one of France’s prime online brands.
“Makes full sense”
Sarenza sells about 650 brands and nearly 40,000 models on its web shop with an annual turnover that surpasses 250 million euro. Monoprix sees the acquisition as the ideal way to complete its online product range and to become an important omnichannel player for fashion, decoration and beauty products.
“Groupe Casino will strengthen its leadership position for urban e-commerce in France thanks to Sarenza’s acquisition and expertise”, Groupe Casino CEO, Jean-Charles Naouri, said. “The acquisition will place Monoprix at the front when it comes to online fashion and decoration sales.”
“This deal is entirely in line with Monoprix’ strategy. Our inner-city stores uniquely combine food, non-food and innovative services. It therefore makes full sense to replicate this complete product range online”, Monoprix CEO, Régis Schultz, said. Unless the labour unions or the Bureau of Competition object, the Sarenza deal should be finalized in a few weeks’ time.
“We are very happy with this acquisition, which will enable us to become part of a major player and to expand our product range thanks to Monoprix’ expertise”, Sarenza CEO, Stéphane Treppoz, said. Sarenza is not only active in France, because it sells products across more than 25 European countries, including Belgium, the Netherlands, Italy, Spain and the United Kingdom.
