Fauchon

From Wikipedia, the free encyclopedia
Jump to: navigation, search

Fauchon is an international gourmet food company, which sells a wide range of own-brand products including delicatessen, cakes and pastry, breads, confectionery. It also has a catering, reception and restaurant business. Fauchon is considered as a major reference in contemporary French gourmet foods.[1] Founded in 1886 in Paris, Fauchon employs 230 people (2013), operates 60 retail outlets and posts sales of €247 million (including sales by franchises), up by 45% over the past year, 80% of which on international markets.[2]

History[edit]

The origins[edit]

The founder of the Fauchon brand, Auguste Fauchon, was born in Calvados in 1856. He moved to Paris in 1880, where he began to work as a street vendor, moving on to become a wine and spirits merchant. In 1886, at the age of 30, he opened a fine foods outlet on Place de la Madeleine in central Paris's 8th arrondissement. This first shop still exists, and was totally renovated in 2005 [3] and again in 2007 by designer Christian Biecher.[4]

The quality of the products made by Fauchon and its numerous approved suppliers [5] quickly made it well-known internationally,[6] and it came to symbolize French-style luxury. In 1968, French radicals chose to raid Fauchon and distribute foie gras to the poor, according to Matt Miller in the Daily Deal [7] During the Second World War, restrictions and rationing made business difficult for the company. Auguste Fauchon died in 1945 and his children sold the company in 1952[8]

From 1952 to the present day[edit]

From 1952 to 2003: opening up to new markets[edit]

In 1952, Joseph Pilosoff, the former owner of Chocolat Poulain, “Ciseaux d’argent” in Saint-Cloud and “Aux 100000 chemises” in Paris, took over Fauchon and built up a partnership with Air France. He also expanded the name abroad, opening new Fauchon outlets including in Japan in a Takashimaya department store in 1972. When Joseph Pilosoff died in 1981, his daughter took over at the head of the company. However, she too died soon thereafter, in December 1985, in a fire on the company premises. Her daughter Martine, then 33, and her husband, Philippe Prémat, became the owners of Fauchon.[9][10] Martine Prémat's management proved difficult. Turnover had been flat since the beginning of the decade at around 250 million French francs (some €38 million), with losses of FF5 million in 1991, FF4.7 million in 1993 and FF11.9 million in 1996, and debt standing at FF73 million (€11 million) and a negative net equity of FF4.9 million.[11] The company strategy to sell its products in mass-market superstore chains such as Carrefour and Auchan,[12] was sharply criticized, and the management was reproached with running the risk of spoiling the company image, making it commonplace.[13] Martine and Philippe Prémat were also criticized for making management errors, and building a yacht, “Le Fauchon”, on which they intended to promote French gastronomy6, and then making a FF12 million loss (€1.8 million) [14] when they sold it. Despite attempts to expand the group in the 1990s by opening shops in Geneva and Saudi Arabia – only to close them a few years later – or by sponsoring the Paris Dakar rally, Martine Prémat finally sold the company to Laurent Adamowicz for FF240 million (€36.6 million) [15] in March 1998,.[16][17] The sale price included the freehold of the buildings on Place de la Madeleine, sold the following year to the real estate group OGIC, headed by Jean Diaz.[18] Laurent Adamowicz positioned the brand on the gourmet foods market. He launched new products[19] and ad campaigns, renovated points of sale, and withdrew the brand from mass-market outlets. He maintained the partnership with Air France, and brought two leading pastry chefs, Sébastien Godard and Christophe Adam, on board when Pierre Hermé left. Fauchon opened in the United States, spending FF60 million (€9.2 million) in five years,[20] but also expanded in Japan, South Korea, Taiwan, the Middle East and Europe.[21][22][23] In France, the acquisition of Flo Prestige for €39 million increased the number of outlets in Paris by 12 stores [24] In 2003, the Fauchon network included 650 franchises, 16 of its own shops, of which three were in New York and 13 in Paris with the takeover of the Flo Group's delicatessens [25][26]

From 2003 to the present day: new developments[edit]

Flickr - scalleja - Fauchon (Place de la Madeleine - Paris)

A former investment banker, Managing Director and Partner respectively of the French bank Paribas and of Rothschild & Cie, experienced in the field of luxury products as a former member of the Supervisory Board of Van Cleef & Arpels, graduate of “École Supérieure de Commerce de Paris” (ESCP-Europe) and of the Wharton School (See article in the business newspaper Les Echos on October 3, 2003[27]), Laurent Adamowicz introduces marketing at Fauchon with the first advertising campaign on the theme of fashion in 1999. He organizes the full repositioning of the brand, its image, its graphic identity, its logos, and the entire range of packaging. He launches the creation of 700 new products under the Fauchon brand, introduced on the market from 1998 to 2003, in particular the new flavored teas of the Four Seasons, the “Pure Fruit” range of preserves, the foie gras made with Szechuan peppercorns, the caramel milk jam, the strawberry preserve with rose petals (See the article in the Spring 2003 issue of the Wharton Alumni Magazine[28]) He completes the repositioning of the Fauchon brand in its food universe of good products made simply and exceptionally and he also removes the brand from the mass-market retail channel and renovates the historical stores on Place de la Madeleine. Finally he launches the Fauchon commercial website for packaged goods and catering. As soon as the year 2000, under his management, Fauchon becomes a growing and profitable company again. Fauchon opens new stores in Japan, in South Korea, Taiwan, the Middle East, Europe, and finally in the United States where it never had a store before.

Prior to his purchase of Fauchon, Laurent Adamowicz had already announced his intent and that of his investor group to launch the company in the U.S. market in a very significant way. A press conference they held in early February 1998 made it official that their strategy was to invest 60 million French Francs ($14 million) over 5 years to conquer the United States market they called “the largest opportunity for the development” of Fauchon. See Les Echos newspaper article on February 5, 1998[29] and the article in Le Monde, likewise: “The buyer of Fauchon, the company Waldo, wants to develop the brand in the United States”[30]

“FAUCHON, the legendary Parisian market, has made its debut in New York. Its first American shop opened Monday at 442 Park Avenue, at 56th Street. For now, the glass display cases, shelves and free-standing consoles in the 3,600-square-foot (330 m2) store are stocked with pink and gold packages of fancy jams, chocolates, crackers, mustards, oils, vinegars, pickles, sauces and 109 kinds of tea,” writes Florence Fabricant in The New York Times on August 16, 2000.[31] She continues: “The candy counter is laden with chocolates, marrons glaces in four flavors, pates de fruit and marzipan creations. The jewel-like glace strawberries ($2 each) are not to be missed. Chocolate Eiffel Towers are $5 each. The pastry department is limited to delicious macaroons for the moment, and there are packaged cookies, and gradually other pastries, ice creams and sorbets will be added. It has taken Fauchon, which has 800 stores in 33 countries, this long to open in the United States because the company's emphasis was placed on establishing franchises in Europe, Asia and the Middle East. When Laurent Adamowicz bought the 114-year-old company in 1998, he set his sights on the American market. The $3 million New York store is company owned.”[32]

With a diversified investor group that included Michel Deroy and Jean-Francois Toulouse, former owners and managers of Dock de France supermarkets that they sold in 1996 for 18.5 billion French Francs ($4.2 billion); the investment fund Matignon Investissements et Gestion; the publicly listed UK fund Intermediate Capital Group; and Barclays Capital Development France, the company had the means of its ambitions to finance the desired expansion of Fauchon in the U.S. market. See article in Les Echos newspaper on April 2, 1998: “The new Chairman and CEO of Fauchon wants to bring the company to the United States[33] and in La Tribune newspaper on the same day: “The gourmet epicerie Fauchon wants to conquer the American market”[34]

Barclays Private Equity France, a subsidiary of the Barclays plc Group, backed Laurent Adamowicz in his takeover of Fauchon to participate in its development in France and abroad. As can be read in the annual report of Barclays Private Equity France: “Laurent Adamowicz took the Fauchon destiny in his own hands and started the restructuring right away. His first actions included closing all the restaurants in the Place de la Madeleine, Paris store and replacing them with a “Salon de thé” (Fauchon Tea Salon) and the largest wine cellars in Paris. He also increased international brand presence with the opening of similar Fauchon Tea Salons in Asia and in New York on Park Avenue, followed by a second store on Madison Avenue.[35]

After the pastry chef Pierre Hermé and his pupil, Sébastien Godard, both left the company, Laurent Adamowicz trusted a very young pastry chef promoted from within, in 2000, to lead the pastry department at Fauchon: Christophe Adam. Still in charge today, Christophe Adam led up to 70 Fauchon pastry chefs after the takeover of the Paris stores purchased by Fauchon from Groupe Flo.

The brand renewal is particularly noticed with the reopening of the historic Tea Salon in Paris, followed by its replicas in Tokyo and New York. Of the more than 100 varieties, there is Soir de France, a blend of China and Sri Lanka teas flavored with apricot and blood orange and sprinkled with orange peel and petals of rose and sunflower.[36] The two references created then upon the launch of the tea salon, Soir de France and Un Après-Midi à Paris (An Afternoon in Paris) have both become Fauchon classics, among the best selling references today. During the year 2000, Fauchon also launches a noticeable innovation for tea-buffs around the world, the crystal tea bag, a ultra-fine nylon pouch that provides a better quality infusion, hence a better aroma for tea. Holly Finn, the Financial Times writer, signs an article on the new Fauchon Tea Salon under the title “Tea with Sympathy”. She writes: “For those weary of coffee and couture and in real need of something soothing, the Salon de Thé recently opened at the legendary Fauchon food emporium in Paris, is worth a winter visit. There, on Place de la Madeleine, the emphasis is not on fast-forwarding, either one’s heart rate or one’s fashion status. It’s about stopping – taking a deep breath and a long sip. No matter how rudely random Parisians have treated you that morning, you’ll soon feel better about the whole Franco-thing. A slice of Tarte au thé Darjeeling (a specialty of the house) restores confidence not just in your ability to translate, but in the civility of left-seat drivers, all sorts of things…. A reminder of the bond between tea and sympathy.”[37]

The 2003 Crisis[edit]
Flickr - scalleja - Fauchon (Place de la Madeleine - Paris) 2

During the summer of 2003, Fauchon went into serious debt to convert the Flo Traiteur delicatessens in Paris to Fauchon colors. Times were hard, whether from an economic, financial or real estate viewpoint. Comes the crisis of Spring-Summer 2003: First there was the war in Iraq with the invasion and the fall of the Saddam Hussein regime in April 2003; followed in May 2003 with a worldwide scare due to the epidemic of the Severe Acute Respiratory Syndrome (SARS) virus; then came the frightening heat wave in Europe that hit France particularly hard with over 15,000 dead in August 2003; finally, the economic turbulences due to the collapse of the tourism market that year. Fauchon was very dramatically affected by the combination of all these events, especially at the time it had just converted to the Fauchon brand all the new Parisian stores it had just acquired.

Six months later, in January 2004, Laurent Adamowicz left his CEO's office to Michel Ducros, (one of the sons of Gilbert Ducros (1928–2007), the founder of the Ducros spice business that he sold in 1992 to the Italian group Ferruzzi [38][39]) [40] when he sold his 51% stake in the capital to La Compagnie du Bois sauvage (CBS),[41] the Swiss group Gonset Holding S.A,[42] and Universal Capital Partners, headed by Pierre Besnainou [43]

As for Michel Ducros, at Fauchon, he follows into the steps of his predecessor in terms of the brand image, its renewal started in 1998 with the introduction of the first advertising campaigns in 1999, the renovation of the stores, the new packaging, and the marketing efforts.

From 2005 onward, Michel Ducros bought out most of the private and corporate shareholders: in 2005, he acquired all of the shares held by the Barclays Group, in 2009 the 36% stake owned by La Compagnie du Bois sauvage, then the stake held by Matignon Investissement & Gestion,[44] and lastly the minority shareholdings.[45] At that point, Michel Ducros held 95% of Fauchon's capital.[46] “I am an entrepreneur, I invest in the long term,” he explained.

Flickr - scalleja - Fauchon (Place de la Madeleine - Paris) 3

In February 2013 – ten years after Michel Ducros took over at the helm – Éric Vincent was appointed CEO, with a remit to develop the company on international markets.[47]

Selling off loss-making assets[edit]

The acquisition of the Flo outlets in Paris in 2002 and the opening of three shops in New York led to a very sharp rise in income between 1998 and 2004, but a decline in Fauchon's net profits.[48]

From 2004 onward, the new shareholders adopted a strategy that aimed to boost profits by selling off those assets they deemed to be non-strategic, closing stores in Russia and the United States;[49][50][51] selling their ready-prepared meal tray business to the Fleury Michon group;[52] and finally transferring the Fauchon Paris stores to the company's rival Lenôtre [53][54]

Within the space of six years, Fauchon cut back its workforce from 700 to 200 people [55]

International Development[edit]
The Paris location of Fauchon dressed up for Christmas, 2004

Despite the lack of success in the United States and China,[56][57][58] “Fauchon must reassess its plans after its failures to balance its books due to its local losses”. Adds Isabelle Capron, Chief Operating Officer of Fauchon: “China may be the future Japan, but not for right now”,[59] Fauchon had some 60 stores and restaurants around the world in 2013, and international sales represented 80% of the group's business [60]

Fauchon is now aiming to have 100 outlets by 2017, most of which will be franchises, its chosen modus operandi. Only five stores carry the company name [61]

In February 2013 – ten years after [Michel Ducros]] took over at the helm – Éric Vincent was appointed CEO, with a mission to develop the company mostly on international markets. Fauchon is now aiming to have 100 outlets by 2017 (from 63 in 2013), most of which to be franchises, its chosen modus operandi. In 2013 Fauchon has five company-owned stores and 58 franchised stores.[62] In 2014, Fauchon has debuted its second boutique in Hong Kong.[63]

Brand redeployment[edit]

At the end of the 1990s Fauchon had embraced distribution at mass-market retailers and had multiplied its selling outlets. “The increase in volumes diluted the brand’s value”, recognizes Michel Ducros in the recent article in L’Express magazine[64]

Michel Ducros revised Fauchon strategy with all its suppliers in all product categories, as the Paris-based purveyor of gourmet foods no longer wants to be a general store, but a multi-specialist. Fauchon has developed a product strategy, which entails setting up specific partnerships with its suppliers and sub-contractors [65] and developing and making Fauchon products to strict specifications and Fauchon recipes. Fauchon continues to produce most of its own breads, cakes, pastries and delicatessen products on its premises (in the Paris suburb of Courbevoie for cakes and pastries). Events, such as Eclair Week, are organized around the world regularly, to promote the brand's culinary know-how.[66]

Fauchon in Figures[edit]

On the verge of bankruptcy in 2004 (with losses of €30 million),[67] Fauchon made its way back to a smaller loss in 2009, and in 2013 posted an operating profit of €900,000 on sales of €50 million [68] The company however, has not yet returned a net profit since 2004 under the management of Michel Ducros. It was profitable in 2001, when it was run by Laurent Adamowicz.

From 1998 to 2003, the number of franchised Fauchon stores went from 450 to 650, the number of company-owned stores from 1 to 16 of which 3 in New York and 13 in Paris after the purchase by Fauchon of the Parisian stores of Groupe Flo[69][70] The number of licenses grew from 2 to 16 from 1998 to 2003, generating royalties that grew from 1.5 to 3 million Euros ($4.5 million) during the same period. In 2003, Fauchon had total sales of 90 million ($135 million) of which 30% export revenues for a profit of 5 million Euros ($7.5 million). (See the Article “Fauchon en Chiffres” – Fauchon in Figures – i.e. business newspaper La Tribune)[71]

Financial data in million euros[72] · [73] · [74] · [75]
Years 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Income 39.1 41.4 38.7 54.0 84.2 70.7 43.8 36.0 35.6 36.6 44.3 45.5 46.2
Operating profits 1.5 1.5 -3.1 -3.4 -10.2 -10.7 -5.8 -1.1 -1.1 -0.2 -0.1 -0.3 0.1
Net profitor loss 0.1 1.3 -1.4 -4.5 -33.5 -15.9 -5.8 -0.8 -5.4 -1.0 -1.0 -1.0 -0.5


Competition[edit]

Main competitors of Fauchon on the worldwide gourmet and luxury food products scene include Harrods and Fortnum & Mason in London and Mariage Frères, Le Palais des Thés, Dammann Frères, Kusmi Tea, Lenôtre, Pavillon Ledoyen, and Hédiard in Paris.

References in popular culture[edit]

In Thomas Harris's book Hannibal (1999), the infamous fictional serial killer Hannibal Lecter, while on a flight from Europe to America, waits until everyone is asleep before producing a Fauchon food parcel of aromatic truffled pate de foie gras and Anatolian figs, as well as a half bottle of St Estephe which Harris says he favours.

In Cast Away, the 2000 movie directed by Robert Zemeckis, Chuck Noland, the FedEx executive (starring Tom Hanks) hands his colleagues before they board the plane, a Fauchon bag containing fresh baguette bread from Paris. The distinctive Fauchon logo of the bag stands out. Later in the movie, one wishes he had kept the bag.

References[edit]

  1. ^ Source: Le Nouvel Économiste "Fauchon, Hédiard : une histoire de goût”, 22 September 2011 [1]
  2. ^ "Fauchon veut doubler de taille en cinq ans" [2], Capital, 18 September 2013
  3. ^ http://www.prodimarques.com/documents/gratuit/53/fauchon-retour-berceau-nouveau-depart.php
  4. ^ http://retaildesignblog.net/2011/07/17/fauchon-food-shop-by-christian-biecher-paris/
  5. ^ http://www.temps-libre.info/article675.html
  6. ^ Source: Le Journal du dimanche, 8 February 1998, “Fauchon veut retrouver son lustre d’antan” by Jean-Michel Salvator
  7. ^ Source: The Daily Deal, 21 May 2002, by Matt Miller “Pass the foie gras”
  8. ^ Les Échos, 28 August 2006: Fauchon célèbre 120 ans de gourmandise. http://www.lesechos.fr/28/08/2006/LesEchos/19738-46-ECH_fauchon-celebre-120-ans-de-gourmandise.htm
  9. ^ Source: Le Figaro, no. 16643, 16 February 1998, interview with Martine Prémat
  10. ^ Source: “Martine PRÉMAT a démocratisé le luxe”, page visited on 8 October 2009 Source: “Martine PRÉMAT a démocratisé le luxe”, page visited on 8 October 2009 http://archive.wikiwix.com/cache/?url=http://www.annuaire-au-feminin.net/bioPREMATmartine.html&title=Page%20vue%20le%208%20octobre%202009
  11. ^ Source: Capital, May 1997, pages 54-55, by Eddy Murano, “Succès et Dérapages - Fauchon, un épicier fauché
  12. ^ Source: Capital, May 1997, pages 54-55, by Eddy Murano, “Succès et Dérapages - Fauchon, un épicier fauché”
  13. ^ Source: Gault Millau, no. 327, February–March 1998, pages 31-34, “Enquête : La vérité sur Fauchon”
  14. ^ Source: Capital, May 1997, pages 54-55, by Eddy Murano, “Succès et Dérapages - Fauchon, un épicier fauché”
  15. ^ Source: Capital, May 1997, pages 54-55, by Eddy Murano, “Succès et Dérapages - Fauchon, un épicier fauché”
  16. ^ Source: Le Figaro, 31 December 2005, “Fauchon, la Griffe gourmande”
  17. ^ Source: Europe 1 radio, Le Journal de l’Économie, 4 February 1998, 6:30 am, by Jean-Michel Salvator
  18. ^ Source: OGIC, promotion immobilière, page visited 11 October 2009
  19. ^ Source: Financial Times, 22–23 January 2000, by Holly Finn “Tea with Sympathy”
  20. ^ Les Échos, no. 17579, 5 February 1998, page 18, “Waldo veut développer Fauchon aux États-Unis” http://www.lesechos.fr/05/02/1998/LesEchos/17579-87-ECH_waldo-veut-developper-fauchon-aux-etats-unis-et-au-japon.htm
  21. ^ New York Times, Article by Florence Fabricant, 16 August 2000, “Fauchon Opens A Market in Midtown” http://www.nytimes.com/2000/08/16/dining/fauchon-opens-a-market-in-midtown.html
  22. ^ Les Échos, no. 17619, 2 April 1998, page 19, “Le nouveau PDG de Fauchon veut implanter l'entreprise aux États-Unis” http://www.lesechos.fr/02/04/1998/LesEchos/17619-69-ECH_le-nouveau-pdg-de-fauchon-veut-implanter-l-entreprise-aux-etats-unis.htm
  23. ^ La Tribune du 2 April 1998, page 11, “L’épicerie fine Fauchon veut conquérir le marché américain”
  24. ^ http://www.lhotellerie-restauration.fr/lhotellerie/articles/2841_02_octobre_2003/Les_enseignes_Flo_Prestige.html
  25. ^ Source: Le Figaro, 20 March 2003, “Laurent Adamowicz redéploie Fauchon
  26. ^ Source: Le Parisien, 1 October 2003, “Fauchon s’installe chez Flo et mise sur la proximité”
  27. ^ Source: Les Echos newspaper, Issue #19002 of October 3, 2003, page 50, Distribution, Entreprise et Marchés, En Vue, Laurent Adamowicz
  28. ^ Source: Wharton Alumni Magazine, Spring 2003, Issue 347
  29. ^ Source: Les Echos newspaper, issue #17579, of February 5, 1998, page 18, “Waldo veut développer Fauchon aux Etats-Unis” (Waldo wants to develop Fauchon in the United States)
  30. ^ Source: Le Monde newspaper article, issue #16493, February 5, 1998, “La vente de Fauchon relance les grandes manœuvres sur le marché de l’épicerie de luxe. Le repreneur, la société Waldo, veut développer la marque aux États-Unis” (“The buyer of Fauchon, the company Waldo, wants to develop the brand in the United States”)
  31. ^ Source: The New York Times, Article by Florence Fabricant, on August 16, 2000, “Fauchon Opens A Market in Midtown”
  32. ^ Source: Ibid
  33. ^ Source: Les Echos newspaper, issue #17619, of April 2, 1998, page 19, “Le nouveau PDG de Fauchon veut implanter l'entreprise aux Etats-Unis” (“The new Chairman and CEO of Fauchon wants to bring the company to the United States”)
  34. ^ Source: La Tribune newspaper, April 2, 1998, article page 11, “L’épicerie fine Fauchon veut conquérir le marché américain” (“The gourmet epicerie Fauchon wants to conquer the American market”)
  35. ^ Source: Web site Barclays Private Equity France, Page seen on October 8, 2009
  36. ^ Source: Wharton Alumni Magazine, Spring 2003, Issue 347
  37. ^ Source: The Financial Times, Article of January 22–23, 2000, by Holly Finn “Tea with Sympathy”
  38. ^ Source: Le Point magazine, Issue #1665, Article published on January 17, 2007 “En 1992, le groupe Ducros et Fils est numéro un des épices en Europe, et la famille ne résiste pas à l'offre de rachat mirifique (1,6 milliard de francs - soit pratiquement le chiffre d'affaires) que lui fait l'italien Ferruzzi avant sa retentissante faillite.
  39. ^ Source: L’Express magazine, Article of August 9, 2007, page 44-46, “Quand Ducros se jette à l’eau” (When Ducros takes a dive), Page Seen on October 9, 2009
  40. ^ Source: Le Point, no. 1665, 17 January 2007, “Les nouvelles recettes de Michel Ducros”
  41. ^ Source: Sociétés en Portefeuille du Fonds Matignon Investissement & Gestion http://www.matinvest.com/content/view/117/45/lang,fr/
  42. ^ Source: NeoRestauration.com, 18 May 2005, page visited on 7 October 2009 http://www.neorestauration.com/
  43. ^ Source: Le Figaro, 2 March 2004, “Pierre Besnainou s’invite chez Fauchon”
  44. ^ Source: Le Point, no. 1933, 8 October 2009, “Michel Ducros est propriétaire de plus de 90 % de son affaire”
  45. ^ Source: Le Point, no. 1933, 8 October 2009, “Fauchon version fashion”
  46. ^ http://www.lesechos.fr/entreprises-secteurs/service-distribution/actu/0203013062478-fauchon-pousse-les-feux-a-l-international-606833.php
  47. ^ http://www.lesechos.fr/entreprises-secteurs/service-distribution/actu/0203013062478-fauchon-pousse-les-feux-a-l-international-606833.php
  48. ^ http://fr.reuters.com/article/frEuroRpt/idFRL5N0HE1HG20130918
  49. ^ Source: New York Times, 20 May 2005, by Elaine Sciolino, “Fauchon’s Food Empire Cedes Territory to a Rival”
  50. ^ Source: New York Times
  51. ^ Source: New York Times, 11 June 2004 [3], “New York: Manhattan: Fauchon Closing 2 Of 3 Stores”, page visited on 11 October 2009
  52. ^ Source: Les Échos, no. 19268, 19 October 2004, “Fleury-Michon acquiert les plateaux-repas de Fauchon” [4], page visited on 11 October 2009
  53. ^ Source: Le Figaro, 19 May 2005, “L’épicerie de luxe vend neuf boutiques à Lenôtre. Fauchon a perdu la bataille de Paris” [5], page visited on 8 October 2009 and official Lenôtre website
  54. ^ Source: L’Express, 9 August 2007, page 44-46, “Quand Ducros se jette à l’eau » [6], page visited on 9 October 2009
  55. ^ Source: L’Express, 17 January 2008, page 75 “Fauchon, L’épicier chic et choc”, by Corinne Scemama
  56. ^ Les Échos, no. 20541 29 October 2009, page 19, “Fauchon revoit ses plans après des déconvenues” [7]
  57. ^ Source: Le Figaro newspaper, Article of October 14, 2007, “Fauchon veut ouvrir treize magasins en Chine”
  58. ^ Source: Les Echos newspaper, issue #20541 of October 29, 2009, page 19, “Fauchon revoit ses plans après des déconvenues” (“Fauchon must reassess its plans after its failures”)
  59. ^ Source: Les Echos newspaper, issue #20541 of October 29, 2009, ibid, “la Chine est sûrement le futur Japon, mais ce n'est pas pour tout de suite” (“China may be the future Japan, but not for right now”)
  60. ^ http://www.lsa-conso.fr/fauchon-accelere-son-developpement-a-l-international,147551
  61. ^ http://www.lesechos.fr/entreprises-secteurs/service-distribution/actu/0203013062478-fauchon-pousse-les-feux-a-l-international-606833.php
  62. ^ http://www.lesechos.fr/entreprises-secteurs/service-distribution/actu/0203013062478-fauchon-pousse-les-feux-a-l-international-606833.php
  63. ^ http://www.retailinasia.com/article/2014/01/culinary-boutique-fauchon-opens-second-store-hong-kong
  64. ^ Source: L’Express magazine, Article by Corinne Scemama on January 17, 2008, page 75 “Fauchon, L’épicier chic et choc”; “L'augmentation des volumes a dilué la valeur de la marque, reconnaît Michel Ducros”
  65. ^ L'Est-Éclair, 23 March 2010 page visited on 12 April 2010
  66. ^ http://www.lexpress.fr/styles/saveurs/l-eclair-week-electrise-fauchon-du-3-au-7-septembre_1277949.html
  67. ^ http://m.lesechos.fr/redirect_article.php?id=0203123626811
  68. ^ http://fr.reuters.com/article/frEuroRpt/idFRL5N0HE1HG20130918
  69. ^ Source: Le Figaro newspaper, Article of March 20, 2003, “Laurent Adamowicz redéploie Fauchon”
  70. ^ Source: Le Parisien newspaper, Article of October 1, 2003, ‘Fauchon s’installe chez Flo et mise sur la proximité”
  71. ^ Source: La Tribune newspaper, Article of October 1, 2003, “Fauchon devient une enseigne de proximité ; Fauchon en chiffres”
  72. ^ Source : Rapports annuels de 2000 à 2008 inclus, de La Compagnie du Bois sauvage ; page vue le 10 octobre 2009.
  73. ^ Source : Rapport annuel 2005 de La Compagnie du Bois Sauvage, p. 31 ; vue le 10 octobre 2009.
  74. ^ Source : Rapport Annuel 2006 de La Compagnie du Bois sauvage, p. 33 ; vue le 10 octobre 2009.
  75. ^ Source : Rapport annuel 2007 de La Compagnie du Bois Sauvage, p. 34, vue le 10 octobre 2009.

External links[edit]

These are the main links to the companies specifically cited in the article above: