CFAO announces the creation of its club of brands, a network of international brands wishing to support the rise of the African middle class.
The following new-generation international brands are the first five members of this innovative club: La Grande Récré (Ludendo group), L’Occitane en Provence, Cache Cache and Bonobo (Beaumanoir group), and Kaporal.
CFAO will operate the sales outlets of these new partners under exclusive agreements (franchises, brand and distribution concessions, and distribution agreements).
The club of brands will include around twenty brands with sales outlets opening first and foremost in CFAO's shopping centers in eight African countries: Cameroon, Congo, Côte d’Ivoire, Democratic Republic of the Congo, Gabon, Ghana, Nigeria and Senegal*.
"CFAO acts as a catalyst for the development of international brands in Africa and as a springboard for brands that view the continent as a real growth lever. With our experience and our approach to consumption in Africa, we give them access to a high-growth market", explains Xavier Desjobert, Chief Executive Officer of CFAO Retail.
The launch of this club of brands goes hand in hand with the opening of CFAO's first shopping center in Abidjan, Côte d'Ivoire in the second half of 2015.
According to Ludendo group President Jean-Michel Grunberg, "This franchise agreement bolsters La Grande Récré's international presence. Our expertise in toys and the strength of our brand concept are key in satisfying Africa's new consumption needs."
The African middle class is expanding rapidly on the back of strong economic growth. Seven of the ten countries that will experience the strongest growth between 2011 and 2015 are in Africa**. In sectors related to services and consumption, revenue on the continent is expected to increase by between 4% and 5%*** per year by 2020, while the number of households bringing home annual revenue of more than USD 5,000 is likely to rise to 130 million compared with 85 million today.
CFAO has a strong, longstanding presence in Africa and therefore boasts in-depth knowledge of the continent's markets and consumption patterns.
Through these recent initiatives, CFAO aims to offer African consumers a diversified high-quality products and services. This project demonstrates the confidence that CFAO and its partners place in Africa's economic impetus.
The club of brands’ first five members