Monoprix recently opened two new stores this year, one in the Bagatelle Shopping Mall, and another at Cascavelle. Having broadened its horizons, it has unfortunately faces net losses for the first nine months of the year 2014.
The firm managing Monoprix has come a long way though – from a turnover of Rs 200 million in 2013 to Rs 414 million in 2014. However, the various transactions it has dealt with like, making the acquisition of the hypermarkets Pick n Pay of both Cascavelle and Bagatelle, has led to net losses of Rs 52.4 million as opposed to the losses of less than Rs 1 million last year.
Making the acquisition of the two stores has impacted on the assets of the firm: from Rs 158 million in 2013 to Rs 381 million this year. Its debts have reached numbers as high as Rs 381 million.
The management remains positive, in spite of the great losses. The two new stores are still in development phase. Marketing strategies are being executed to boost their performance, which will become apparent in a given period of time, according to the firm.