GiFi explained

GiFi is a French discount store chain with nearly 500 stores, mostly in France.

History

It was founded in 1981 by Philippe Ginestet, who is the owner and chairman.[1] His son Alexandre is the CEO.

In 1986, GiFi had nine stores in southwestern France and shifted from discount retail to a low-price model. In 1988, it established a purchasing center and began sourcing from Asia.[2]

In 2017, GiFi bought French discount chain Tati.

GiFi has an annual turnover of US$1.6 billion.

Notes and References

  1. Web site: Forbes profile: Philippe Ginestet . 4 November 2019 . Forbes.
  2. Web site: BaquƩ . Philippe . 2021-06-01 . GiFi ou le triomphe de la pacotille . 2024-10-24 . Le Monde diplomatique . fr.