One of France’s leading online footwear retailers is joining the Monoprix portfolio.
French retail chain Monoprix, a subsidiary of Casino Group, announced Monday that it is in exclusive negotiations to acquire Sarenza, the Paris-based online footwear retailer.
The e-commerce company operates in 28 countries and offers more than 650 brands, including Adidas Originals, Converse and Palladium. It generated more than $310 million in sales during its last fiscal year.
In a press release, Casino Group chairman and CEO Jean-Charles Naouri said the acquisition will “accelerate Monoprix’s digital transformation” while expanding Sarenza’s reach, particularly in urban areas.
“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,” said Sarenza chairman and CEO Stephane Treppoz in a statement.
Casino has reportedly been under pressure to revive profits in France, where it makes more than 50 percent of its sales.
The deal would enhance Monoprix’s e-commerce expertise—an area of focus and investment for the company. In November, Casino also inked a deal with Ocado, an online grocery retailer, to develop the Ocado Smart Platform in France. Through this partnership, Monoprix is expanding its online supermarket capabilities.
“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,” said Monoprix chairman Regis Schultz. “It is perfectly logical to recreate this complete offering online.”