GiFi (phonetic abbreviation of its founder's name, Ginestet Philippe) is a French

discount store Discount stores offer a retail format in which products are sold at prices that are in principle lower than an actual or supposed "full retail price". Discounters rely on bulk purchasing and efficient distribution to keep down costs. Types (Uni ...

chain with nearly 500 stores, mostly in France.

History

It was founded in 1981 by

Philippe Ginestet Philippe Ginestet (born 15 April 1954) is a French billionaire businessman, and the founder, chairman and owner of GiFi, a French discount chain. Early life and career Philippe Ginestet was born on 15 April 1954 in Sainte-Livrade-sur-Lot, Lo ...

, who is the owner and chairman. 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. In 2017, GiFi bought French discount chain Tati. GiFi has an annual turnover of US$1.6 billion.

References

External links

* Retail companies of France Retail companies established in 1981 French companies established in 1981 Companies formerly listed on Euronext Paris {{France-company-stub