In pursuit of strengthening strategic alliances and expanding into global markets, Gray Mackenzie Retail Group has officially signed a franchise agreement 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, with the first one planned to open within this year.
This partnership is a result of the success of the French retail chain, which is present in about 85% of French regions and spread across several Middle Eastern and North African countries, demonstrating its presence in the Lebanese market previously, to once again attract French product enthusiast by offering its rich French heritage of food and non-food items to the local market.
Addressing this milestone, Mr. Hassan Ezzeldine, Chairman of Gray Mackenzie Retail Group, stated: “We take great pleasure in announcing this new partnership, through which we reaffirm our continuous commitment to attract premier brands to the Lebanese market and provide consumers with an unparalleled global shopping experience, this time with a French taste.” He added, “Our main goal through our expansion strategy is to maintain Lebanon’s position as a leading market with a diverse range of high-quality products from the most prominent markets. We are hoping to bring further advancements within the Lebanese market, aligning it with the foremost global markets in the retail sector, thus restoring Lebanon to its esteemed position.”
Mr. Vincent Peyronnet, International Director of Monoprix added, “We are proud to be able to count on our new partner GMRL to promote the Monoprix brand in Lebanon and continue our international development.”
This partnership is part of Gray Mackenzie Retail Group’s efforts to strengthen the Lebanese economy and the sector at large, as well as to provide the Lebanese consumer with the best top-tier products and meet all tastes, targeting this time enthusiasts of French goods, stemming from the historic Lebanese passion for French heritage, including food, household items, perfumes, gifts, accessories and other products.