PPR-owned electronics retailer Fnac aims to generate half of its sales outside of France by 2015 as it expands in Northern Africa and South America. Chief executive Christophe Cuvillier said: “We’re looking to expand in other countries. The priority internationally is to grow where we already are.”
Fnac will open its first store in Morocco and add more shops in Brazil in 2011 to reduce its reliance on France, where it generates about two-thirds of sales.
Cuvillier also said that Fnac will not expand in the US in the near future. Concerning its online business, he estimated that this may generate 20% to 25% of Fnac’s total sales in five to 10 years from a current 8%.
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