GiFi S.A. - Introduction

Introduction

Zone Industrielle La Boulbene, BP 40
Villeneuve-sur-Lot F-47301 Cedex
France
Telephone: +33 5 53 40 54 54
Fax: +33 5 53 40 54 6433
Web site: http://www.gifi.fr

Public Company
Incorporated: 1981
Employees: 2,487
Sales: EUR 440 million ($500 million) (2004)
Stock Exchanges: Euronext Paris
Ticker Symbol: 7509
NAIC: 424990 Other Miscellaneous Nondurable Goods Merchant Wholesalers; 423990 Other Miscellaneous Durable Goods Merchant Wholesalers

GiFi S.A. is France's leading retailer specialized in the low-priced, nongrocery category. The company, based in Villeneuvesur-Lot, in the French southwest, operates a network of nearly 275 discount stores featuring a wide range of items, from home furnishings to toys to hardware, as well as textiles, auto parts, electronic goods, and compact discs and DVDs. Nearly three-quarters of the goods on sale at the group's stores are priced at EUR 4 or less. In a departure from the traditional discount goods channel, GiFi has launched its own branded lines in certain categories, including pet products (Doggy Dog), kitchen utensils (Cuisilux), and toys (Joubi). The company claims that more than 45 percent of the goods sold in its retail network originate from suppliers in France; most of the remainder come from Asian, especially Chinese, producers. GiFi has expanded rapidly in the first half of the 2000s; since 2000 the company has doubled its retail network. The company also has launched a refurbishment effort, converting a number of stores to a new large-scale Maxi GiFi concept, featuring more than 2,500 square meters of selling space. At mid-decade, the company has begun a move into international markets, acquiring 27 Idé stores in Belgium, and opening its first stores in Italy. The company also is preparing a launch into Spain. At the same time, GiFi has begun to diversify, acquiring discount clothing supplier Griff Plus in France. That acquisition brought the company a chain of 25 stores specialized in the sale of discounted brand name clothing. GiFi is listed on the Euronext Paris Stock Exchange. Founder Philippe Ginestet and family control more than 56 percent of the company's shares. In 2004 the company posted revenues of EUR 440 million ($500 million).