Fnac

From Wikipedia, the free encyclopedia

This article or section does not adequately cite its references or sources.
Please help improve this article by adding citations to reliable sources. (help, get involved!)
Any material not supported by sources may be challenged and removed at any time. This article has been tagged since February 2007.

Besides the main subject of this article, FNAC can also stand for fine needle aspiration cytology, a technique used in medical diagnosis.

fnac (originally Fédération Nationale d'Achats pour Cadres, or National Purchasing Federation for Managers) is the largest French retailer of cultural and consumer electronics products: books, CDs and DVDs, computer software and hardware, television sets, cameras, etc. They offer a wide selection, and offer higher-end models as a matter of course, positioning themselves above the discount retailers of such goods. Its headquarters are located in Clichy, a suburb adjacent to Paris.

They are also present in Italy, Portugal, Spain, Switzerland, Greece, Belgium, Brazil, and Taiwan.

fnac stores are usually pretty large and can be compared to the old Incredible Universe or current Fry's chains in the USA. The stores are however, always well furnished; they avoid the "industrial manufacturing plant" appearance common to supermarkets. Unlike some retail chains, Fnac staff are often knowledgeable in the specialist areas as the training budget for all commercial personnel is meant to drive and keep these quality standards.

fnac had previously been a store where one could purchase cheap items. New cultural releases are usually sold at 20% discount (prix verts or green prices), which allows them to compete with supermarkets. After a certain period, prices go up again, although not necessarily forever. Green prices are displayed using visible labels attached on product front side, while standard prices can be found on labels on the back. Soldes (sales) can be identified by red labels and there are never any bargain bins.

It has been recently (2006) rumoured that Mr Pinault intends to sell fnac in a deal worth €2 billion (USD 2,6 billion)- this was dismissed as rumours by PPR and also by the top management of fnac. fnac's French Real Estate on its own should be worth around that amount and also market analysts feel that the group is adequately balanced in terms of cash flow after having sold it's department store company (Printemps), even if Mr Pinault is to be targeting an acquisition in the luxury market for the near future.