The chain Monoprix is back in Beirut. Gray Mackenzie Retail Group announced on Friday that it had "officially signed a franchise agreement with the French retail chain Monoprix, based on the management of the company's operations in Lebanon and its expansion through the opening of new stores, as part of the strengthening of strategic partnerships and opening up to global markets."
As such, the first store is set to open this year, according to Gray Mackenzie.
In a statement, the group clarified that "this partnership is the result of the success of the French chain, present in around 85% of French cities and several countries in the Middle East and North Africa." Monoprix was present in the Lebanese market until 2019.
Hassan Ezzedine, President of Gray Mackenzie Retail Group, emphasized that the expansion strategy "is primarily based on maintaining Lebanon's position as a leading market with a variety of high-quality products from the most important markets."
For his part, Vincent Peyronnet, International Director of Monoprix, said that he was "confident" in the chain's ability to rely on Gray Mackenzie Retail Group, believing that this partnership "will enable this group to progress on a global level."
As such, the first store is set to open this year, according to Gray Mackenzie.
In a statement, the group clarified that "this partnership is the result of the success of the French chain, present in around 85% of French cities and several countries in the Middle East and North Africa." Monoprix was present in the Lebanese market until 2019.
Hassan Ezzedine, President of Gray Mackenzie Retail Group, emphasized that the expansion strategy "is primarily based on maintaining Lebanon's position as a leading market with a variety of high-quality products from the most important markets."
For his part, Vincent Peyronnet, International Director of Monoprix, said that he was "confident" in the chain's ability to rely on Gray Mackenzie Retail Group, believing that this partnership "will enable this group to progress on a global level."
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