In pursuit of strengthening strategic alliances and expanding into global markets, Gray Mackenzie Retail Group has officially signed a franchise with the renowned French Monoprix retail chain.
This agreement aims to oversee the company’s operations in Lebanon and drive expansion efforts by opening new Monoprix stores. Furthermore, the first store is slated to open this year.
This partnership results from the success of the French retail chain, which is present in about 85 percent of French regions, as well as the result of its expansion in the Middle East and North Africa. Having previously established itself in Lebanon, Monoprix now aims to entice French-product enthusiasts by providing a rich heritage locally.
Hassan Ezzeldine, chairman of Gray Mackenzie Retail Group voiced his excitement. “We take great pleasure in announcing this new partnership. Furthermore, it is through this agreement that we reaffirm our continuous commitment to attract premier brands to the Lebanese market. In addition to providing consumers with an unparalleled global shopping experience, this time with a French taste.”
Ezzeldine added: ” Our main goal through our expansion strategy is to maintain Lebanon’s position as a leading market. Consequently, this involves offering a diverse range of high-quality products from the most prominent markets. We are hoping to bring further advancements within the Lebanese market. In addition to aligning, it with the foremost global markets in the retail sector, thus restoring Lebanon to its esteemed position.”
Vincent Peyronnet, international director of Monoprix, said: “We are proud to be able to count on our new partner GMRL to promote the Monoprix in Lebanon and continue our international development.”
The partnership is an important element in Gray Mackenzie Retail Group’s efforts to strengthen the Lebanese economy and the sector at large. In addition to providing the Lebanese consumer with the best top-tier products and meet all tastes, the aim — this time — is to target enthusiasts of French goods: food, household items, perfumes, gifts, accessories and other products.
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