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French department chain Fnac is looking to bolster its European stronghold by establishing a massive 50,000 square foot site in London – a launch pad which will put it in a prime position to establish a network of stores across the UK.
The self styled ‘culture superstores’ carry a wide variety of product lines, ranging from PCs and consumer electronics to books and CDs.
A team of scouts from Fnac dispatched to the UK are searching for a suitably large location to house the huge base of operations, which will be one of the largest single retail stores in London.
"We met some people in England to speak about this eventuality," a spokesperson from Fnac told the Independent, confirming the move.
Fnac is owned by PPR, which also owns luxury brands such as Gucci, Yves Saint Laurent as well as Puma. The parent company is likely to have a significant war chest with which to fund any expansion across the channel, after announcing last month €922 million in profits, an increase of 35 per cent.
The retailer has a core base of 77 stores in France and 54 further stores spread across Spain, Portugal, Italy, Switzerland, Belgium, Greece and Brazil.
Keep an eye on PC Retail.com for updates on Fnac’s UK expansion.
