Fnac Darty SA FNAC.PA

Fnac, Fédération Nationale d’Achats des Cadres, is a large international chain of electronics, books, and DVDs. Located near Paris, Fnac was founded in 1954 by André Essel and Max Théret. The company owns stores, directly and via franchising, in many countries: Belgium, Cameroon, Congo, France, Ivory Coast, Morocco, Portugal, Qatar, Spain, and Switzerland. Fnac has a strong record of successful competition in the retail market, forcing both HMV and Virgin Megastores to leave France during the 1990s.

Traded as FNAC.PA on the Euronext, Fnac went public in 2013 with an expected valuation of around $500 million. Kering, Fnac’s parent company at the time, cited a desire for a spin-off to focus primarily on its sporting goods and luxury items. This is not the first time Fnac has gone public. The company initiated an IPO back in 1980 on the Paris stock exchange.

One of Fnac’s founders, Max Théret, created the first colour-processing machine in all of France. Théret, who was forced to flee from the Gestapo in 1942, also founded a membership discount club called Economie Nouvelle while working for the French telephone company.

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