Friday, July 9, 2010
Fnac announces entering into exclusive negotiations with ID Group for the sale of Fnac éveil & jeux
Fnac has successfully developed the Fnac éveil & jeux brand, tripling its turnover in the last ten years. Fnac éveil & jeux has become France’s leading seller of educational toys and games thanks to its e-commerce and retail network of 41 stores. Having become the leader in France, Fnac éveil & jeux would benefit from a partner like ID group, specialist in the children’s market, to accelerate its internet, retail, and international expansion.
ID Group is a leading French player in the children’s segment between the ages of 0 and 14 years. For the past 15 years, ID Group has been creating and developing specific and complementary brands, including, Okaïdi, Obaïbi, and, Jacadi, and is present in more than 60 countries.
This potential partnership would allow ID Group to accelerate and strengthen its presence in the early learning market, and would allow Fnac to focus on the development of its core brand through the internet and international expansion.
Margaret Milan, founder of Eveil & jeux says: “ID Group has an excellent reputation and has experienced strong growth in the children’s sector. Fnac éveil & jeux is pleased to welcome the potential partnership with ID Group, which will allow the Company to carry out its development projects both in France and abroad. This development will draw on the resources and skills of ID Group, as well as the work carried out over the last three years focusing on the offer, internet strategy, and the upgrading of the logistics and IT platforms.
To Fnac éveil & jeux this project offers the opportunity to become integrated in a group that is dedicated to the well-being of children, that shares the same values, to better serve their mutual clients, the parents.”
The cofounders of ID GROUP, Jean Duforest and Jean-Luc Souflet, stated:
«The integration of Fnac éveil & jeux within ID Group is motivated by profound strategic initiative. The corporate objectives of ID Group and Fnac éveil & jeux are based on the same founding principles; to strive for the early learning and beneficial development of the child.
The activities of ID Group are complementary to those of Fnac éveil & jeux. The two groups will be able to benefit from their know-how, namely the expertise of e-commerce and the management of retail network…”
This potential transaction has been submitted to the appropriate employee representative organisations for opinion and will be subject to the approval from the competition authorities.
Fnac press contact
Gaëlle Toussaint - 00 33 (0)1 55 21 84 71 / 00 33 (0)6 22 77 04 80 - email@example.com
ID Group press contact
Geneviève Aerts - 00 33 (0)6 21 19 08 07 - firstname.lastname@example.org