FNAC (factory inspection) chain company introduction

FNAC chain was founded in 1953 and merged into the Pinault-Printemps-Redoute Group in 1994. Since 1997, the chain group has experienced several leaps, with a turnover increase of 85% to a total of 3.3 billion euros, and the number of chain stores increased from 58 to 89 (29 of which are abroad). The average annual growth rate is 10% to 15%, with 10 to 17 new sales points added each year and annual investment of hundreds of millions of euros.
The group plans to open three stores in Brest, Toulouse and Amiens in the French provinces by the end of the year, and a digital mall in Paris. Jean-Paul Giraud, the group's president, said that in the next two to three years, the group hopes to select 10 to 15 cities in France to open chain stores, increasing the number of cities covered from the current 52 to more than 60.
As for the goal of international development, the group plans to continue to increase sales outlets in countries where FNAC already exists. At the end of 2001, the group had 27 chain stores abroad, with an annual turnover of 622 million euros, accounting for 18.6% of the group's total turnover. The group hopes to increase the number of sales outlets abroad to 45 by 2005, so that foreign turnover will reach 25% of total turnover. In the first quarter of this year, the group added two stores in Turin, Italy and Gambinas, Brazil. It plans to open a third store in Lausanne, Switzerland, a sixth store in Portugal, and a fourth store in Verona, Italy this year.
In addition, the chain group also has FNAC JUNIOR (established in 1996) and SURCOUF (merged into the FNAC Group in 2000), which are specifically aimed at young people and are also growing at a rate of two to three stores per year.
With the emergence of a large number of electronic software and information products in recent years, the profits of products have continued to decline. In addition to vigorously expanding its chain stores, the group must also focus on changing its business methods in order to maintain considerable efficiency in this increasingly competitive environment.

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