French Maisons du Monde has announced some ambitious plans: by 2024, the furniture and decoration chain intends to double its turnover, reaching two billion euros.
Reinforcing the omnichannel approach
In order to reach that goal, the French chain primarily wants to reinforce its successful omnichannel strategy: online and offline activities will be further integrated. In 2024, 30 to 35 % of the revenue should be coming from online sales. The retailer is planning to open 80 to 100 new stores in the next five years, most of which will be located outside of France.
The supply chain will be further optimised to support the online growth and international expansion, including a new 65,000 sqm distribution centre in the northwest of France that should be operational in 2021.
Next year, the company will be launching its own marketplace: the more expansive product range should lure more visitors to the platform, which will increase brand recognition. Maisons du Monde expects sellers on the platform will be generating 160 to 180 million euros of gross commercial value by the end of the five-year plan.
In the United States, growth is mostly expected from recently acquired Mondani. In 2024, the company's turnover should have grown to 200 million dollars (175 million euros). To reach that goal, the store network will be going from 13 to over 50 outlets and the product range will be greatly expanded.