For the third consecutive year, French home retailer Maisons du Monde has reported a decrease in sales. Nevertheless, CEO François-Melchior de Polignac emphasises he sees early signs of recovery.
Improvement on the horizon
In 2024, Maisons du Monde’s sales fell by 11.2 % to 1.002 billion euros. On its French home market, sales went down 11.6 %, while international revenue declined by 9.1 %. Online sales dropped 10.7 % to 70.4 million euros, physical store sales decreased by 10.5 %.
Over the past three years, the retailer saw its sales decrease by 300 million euros, due to a persistently weak real estate market and cautious consumers, LSA reports. Despite this, the CEO points to a number of initial positive indicators.
Strategic plan
De Polignac said that the fourth quarter already showed signs of improvement, and the new strategic plan – called “Inspire Everyday” – aims to return the retailer to growth from the second quarter of this year. The main points of the plan include reducing the product assortment by a quarter, halving the number of suppliers, cutting costs by 85 million euros over three years, rationalising the store network, renovating stores, and having a third of the stores operated by franchisees by 2026.
At the end of 2024, the company had 338 stores in nine European countries. On 11 March, Maisons du Monde will announce its full financial results for 2024.
