French retailer Monoprix, which is part of Groupe Casino, has announced that is has entered into negotiations to acquire Sarenza, a leading online shoe retailer.
The acquisition, which is part of the group’s digitalisation strategy, will enable Monoprix to position itself as an ‘omnichannel lifestyle leader in Fashion, Home [and] Beauty’, the retailer said in a statement.
The acquisition follows the recent announcement by Monoprix that it is teaming up with Ocado, on a new delivery and fulfilment platform for Paris.
According to industry sources, Monoprix is also said to be mulling a partnership with Amazon Prime Now.
'Urban Online Retail'
“By acquiring Sarenza and its expertise, Casino Group will consolidate its position as French leader in urban online retail. This transaction places Monoprix at the edge of the fashion and home online retail,” said Jean-Charles Naouri, the chairman and chief executive of Groupe Casino.
The company said that the transaction will enable it to combine ‘the forces of the Monoprix network, its Fashion, Home and Beauty offering as well as the expertise of its teams, with the e-commerce know-how of Sarenza’.
Sarenza posted sales of more than €250 million in its last financial year. The company offers more than 650 different brands, and some 40,000 designs.
“To give access to the products sold on Sarenza’s website since 2005 to Monoprix’s clients is a great opportunity, which will make Monoprix’s website an admired model in online retail,” said Stéphane Treppoz, Sarenza chief executive.
'Reinforces Our Status'
Elsewhere, Régis Schultz, the chairman of Monoprix, added that following the agreement with Ocado, “which reinforces our leading status on food delivery, Monoprix will position itself, with Sarenza, as a major player in non-food e-commerce.”
The deal is expected to be completed in the coming weeks, following approval by French competition authorities.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.
