Maisons du monde cannot escape the darkness surrounding consumption. Present in nine European countries, sales of the furniture and decorative items brand fell 9.3% to 1.13 billion euros in 2023. The decline in its turnover was more marked internationally (- 12.9%) than in France (- 6.2%). And stronger in decorative items (-9.9%), where the group achieves 57.6% of its sales, than in furniture (-8.4%). The results: net profit divided by three in one year, 8.8 million euros compared to 34.2 million in 2022 – it was already divided by two that year.
“I am not going to hide behind external factors to explain our disappointing results, even if our activity is not favored by the macroeconomic context”Maisons du monde general director, François-Melchior de Polignac, made the comments on Tuesday March 12 during the presentation of the brand’s new strategic plan for 2024-2026, called Inspire Everyday.
“We were probably too optimistic” After historic post-Covid results, and “Highly focused on expansion and investment”Instead “Operational Execution and Customers”He adds that after spending twenty-two years with the mass distribution group Carrefour, he succeeded Julie Wallbaum in March 2023, in this position since 2018.
So the economic and financial situation needs immediate shock treatment. To relaunch a group whose turnover has been declining for the second year in a row: 25% reduction in assortment, cost reduction of 2,000 products, rationalization of the store network to eliminate sources of loss, and use of other, less capital-intensive store operating methods, such as alliances or franchises. The group announced “40 to 50 store close-transfers by 2026 and about 30% in network franchise affiliation”. At the end of 2023, Maisons du Monde owned 340 stores, after selling eighteen points of sale, five of which were transferred to affiliates.
Listed on the stock exchange, distributors of furniture and decorative items took care to specify in the second step that“In any case forty to fifty shops are not net closed”But no “Relocation and closure of stores over a three-year period in line with the normal rhythm of the network’s life” Distribution, along with the renegotiation of its rents, the movement of its points of sale from the city center to commercial activity zones… The brand adds that the implemented strategic plan will increase their number to 400 in 2026, “While maintaining the practical cleanliness of the park”.
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