Luxury French grocer Fauchon has brought the chain of 12 Paris stores of high-quality caterers, Flo Prestige, under its own trade name as it steps up the development of its retail network at home and abroad.
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Fauchon acquired Flo Presitge late last year in and now has a total of 13 stores in Paris and its inner suburbs. This is expected to lift its annual turnover in the French capital from €15m last year to €50m (US$58.0m) in 2003.
On the international front, Fauchon is preparing to open its first outlet in China (Shanghai) and is also eyeing expansion in the US where its associate is Neiman Marcus.
The company has around 600 stores worldwide in 17 countries.
Fauchon, which was founded in 1886, is also targeting Internet sales with a 19-product catalogue of top-quality ice cream, coffee, soups and desserts to be on offer by next spring.
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