Fnac Darty CEO Enrique Martinez updates us on integration progress
OUR VISION OF THE GROUP FOR THE COMING YEARS IS THAT OF AN OMNI-CHANNEL PLAYER WITH A STRONG DIGITAL PRESENCE
Two years after the acquisition of Darty by Fnac, the group now has common head offices in France and Belgium. We asked Enrique Martinez, CEO of Groupe Fnac Darty how the integration is coming along.
The integration of Fnac and Darty is unfolding at high speed, according to our motto “one group, two brands”. We have launched numerous business initiatives, be it a common gift card, the development of a cross-brands click- and-collect service, or the creation of Darty corners within Fnac stores… From an economic standpoint, we are committed to generating e130M synergies by end- 2018. Last December, we presented a strategic plan that will allow us to continue this integration.
What has changed for the employees and the customers?
I think I can say that we are all proud of belonging to a leading European group, composed of two beautiful brands that have been able to reinvent themselves and look to the future with confidence! Our first Fnac Darty convention last September in Paris was a seminal moment: employees of the two brands were able to meet and share their experiences. Our customers now benefit from greatly increased range of services. For example, subscribers to Fnac and Darty’s loyalty programs enjoy unlimited delivery across both. We still have a long way to go to consolidate our referring brands towards our customers and employees.
How will be the strategy moving forward?
Our vision of the group for the coming years is that of an omni-channel player with a strong digital presence, that has developed a complete range of products and services around its brands and partners.
Will both brands remain in the market? Will you start opening stores with dual branding?
The whole project of bringing together Fnac and Darty finds its meaning in the brands’ power. Both have unique strengths that are recognised and complementary. We are still testing different dual- branding formats with great success. What is remarkable with Fnac and Darty is that they are even more powerful when brought together, within the same selling space, where each one benefits from the other’s strengths.
Photo: Enrique Martinez, Chief Executive Officer, Groupe Fnac Darty