Monoprix announces entering into exclusive negotiations to acquire Sarenza. After the recent partnerships signed by the banner, notably with Ocado, this acquisition aims at completing the offering of Monoprix, and at positioning it as an omnichannel Lifestyle leader (Fashion, Home, Beauty). This acquisition is fully part of the digitalization strategy of Monoprix.
Sarenza is a leading online shoe retailer and stands among favorite online banners in France. With an offering of more than 650 brands and 40,000 designs, Sarenza generated more than €250m of sales (before returns) during its last fiscal year.
This transaction will enable 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, a shoe and accessories specialist, in order to create a truly unique “omnichannel Lifestyle” leader.
This combination will also accelerate Monoprix’s digital transformation and will simultaneously consolidate Sarenza’s future by integrating it to a large retail group, particularly active in urban areas.
Jean-Charles NAOURI, Chairman and CEO of Casino Group said: “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.”
Stéphane TREPPOZ, Chairman and CEO of Sarenza said: “We are very pleased with this integration project, allowing us to join a major distribution group and to expand our product offering by leveraging the expertise of Monoprix, one of the most cutting-edge, innovative and popular brand among French people. 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. I want to thank all of the financial shareholders of Sarenza, notably HLD, Bpifrance and Akila Finance, for their support since 2014.”
Régis SCHULTZ, Chairman of Monoprix said: “This operation is fully part of Monoprix’s strategy. In our city-center locomotives stores, Monoprix uniquely combines a food offering, a non-food offering and innovative services. It is perfectly logical to recreate this complete offering online. After the agreement with Ocado last November, which reinforces our leading status on food delivery, Monoprix will position itself, with Sarenza, as a major player in non-food e-commerce.”
The completion of the transaction, which is expected in the coming weeks, remains notably subject to the consultation of Monoprix’s and Sarenza’s employees representative bodies, and to the approval of the French Competition Authority.