La Grande Recre will close 41 stores own. It refocuses its development on openings franchise. 200 and inaugurations are planned by 2020
Less than a month after Christmas, Ludendo. – Second toy distributor in France – announced internally there one week closure of 50 stores, including 41 under his banner Featured La Grande Recre 2017. One hundred positions (of 1500) will be deleted. A draft job protection plan was presented to employees.
“These closures affect small shops of 1000 m2 located in the periphery, in areas of complex catchment and whose profitability n ‘ was unsatisfactory, says the Le Figaro a source close to the group, confirming a report published in LSA . These outlets represent less than 10% of sales. ” The final choice of shops occurred after the year’s accounts were curly. The first eight closures occurred Thursday, according to our information.
This rationalization of the store La Grande Recre park is the result of the reorganization of Ludendo announced last November. In the group’s entourage, it says that we should not be seen as a sign of weakness. Quite the contrary. “All our resources will now focus on La Grande Recre, our flagship, we want to develop franchise in France and abroad” and explained Jean-Michel Grunberg, Group CEO at Le Figaro the end of November.
As part of its new strategic plan, the group plans to open 200 franchise stores, half of them in France in 2020. The franchise has the advantage of mobilizing less cash and more adaptable to the most complex areas. Ludendo also intends to build on the edge of e-commerce, an area in which it has fallen behind.
An ambition made possible by the consolidation of the financial situation of the group. Some market observers believe that Ludendo has grown too quickly in recent years in France and abroad, notably by acquiring three years ago the brand Hamleys, putting themselves in danger. The sale of the UK for 137 million allowed Ludendo halve its debt to 105 million euros. The group completed in the fall a new plan for funding of 88 million euros.
Focusing on La Grande Recre, Ludendo aims, in 2020, first place in the distribution – dominated by the US Toys’R US – with 15% market share and a number of teaches business under 1 billion euros (against 11% in 2015). The group should complete in 2015 around 600 million euros of turnover.
Its flagship brand saw sales increase by 2% last year. Even more than in previous years, Christmas shopping was late. The December alone accounted for 38% of sales of the year.
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