CFAO Announces the Launch of its Club of Brands in Africa
Five international brands to spearhead the continent's growth
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SÈVRES, France, November 26, 2014/ -- CFAO (http://www.cfaogroup.com)
announces the creation of its club of brands, a network of
international brands wishing to support the rise of the African middle
class.
The following new-generation international brands are the first five members of this innovative club: La Grande Récré (Ludendo group), L’Occitane en Provence, Cache Cache and Bonobo (Beaumanoir group), and Kaporal.
CFAO
will operate the sales outlets of these new partners under exclusive
agreements (franchises, brand and distribution concessions, and
distribution agreements).
The club of brands will include around twenty brands
with sales outlets opening first and foremost in CFAO's shopping
centers in eight African countries: Cameroon, Congo, Côte d’Ivoire,
Democratic Republic of the Congo, Gabon, Ghana, Nigeria and Senegal*.
"CFAO
acts as a catalyst for the development of international brands in
Africa and as a springboard for brands that view the continent as a real
growth lever. With our experience and our approach to consumption in
Africa, we give them access to a high-growth market", explains Xavier Desjobert, Chief Executive Officer of CFAO Retail.
The
launch of this club of brands goes hand in hand with the opening of
CFAO's first shopping center in Abidjan, Côte d'Ivoire in the second
half of 2015.
According to Ludendo group President Jean-Michel Grunberg, "This
franchise agreement bolsters La Grande Récré's international presence.
Our expertise in toys and the strength of our brand concept are key in
satisfying Africa's new consumption needs."
The
African middle class is expanding rapidly on the back of strong
economic growth. Seven of the ten countries that will experience the
strongest growth between 2011 and 2015 are in Africa**. In sectors
related to services and consumption, revenue on the continent is
expected to increase by between 4% and 5%*** per year by 2020, while the
number of households bringing home annual revenue of more than USD
5,000 is likely to rise to 130 million compared with 85 million today.
CFAO
has a strong, longstanding presence in Africa and therefore boasts
in-depth knowledge of the continent's markets and consumption patterns.
Through
these recent initiatives, CFAO aims to offer African consumers a
diversified high-quality products and services. This project
demonstrates the confidence that CFAO and its partners place in Africa's
economic impetus.
The club of brands’ first five members
La Grande Récré
is a market-leading brand with 255 stores in France and worldwide. Its
concept is based around a quality range of toys and games along with
customer services such as advice and free gift wrapping in its lively,
welcoming stores that range from 300 sq.m to 2,000 sq.m.
L'Occitane group
has 2,715 sales outlets worldwide. It is a global, natural and organic
ingredient-based cosmetics and well-being products manufacturer and
retailer with strong regional roots in Provence, France since 1976. The
group is committed to developing high-quality, eco-friendly products
that are rich in traceable natural and organic ingredients.
Beaumanoir group,
which currently has over 2,700 sales outlets worldwide, is pursuing its
international development strategy through a new multi-store concept in
which several brands of a complementary nature are housed under one
roof. Intially, the Cache Cache and Bonobo brands will be the two
pillars of this multi-store strategy in Africa.
Its
longstanding brand, Cache Cache, is the go-to international name for
women seeking accessible fashion and wanting to enjoy and share a unique
experience.
Bonobo is an accessible denim brand for young men and women aged 20 to 35.
Kaporal
was created in 2004 in the home of Marseille denim. It has built its
image around its jeans which are known for their inimitable fits. Over
time the brand has made its mark on all aspects of the ready-to-wear
industry and its stylish designs are now worn by 16- to 35-year olds on
the lookout for a daring, creative clothing range and affordable prices.
With more than 100 Kaporal stores and 1,300 multi-brand sales outlets
in France and worldwide, Kaporal is positioning itself as a leading
fashion industry name in the countries where it operates.
*Except Senegal for L'Occitane en Provence
**source: IMF
***source: McKinsey
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