French retail giant Monoprix is closing in on the full acquisition of online shoe retailer Sarenza, revealed a joint statement on Monday.
Monoprix, owned by Casino Group, is eager to make more of a mark in e-commerce and sees the merger with Sarenza - which rakes in €250mn worth of sales a year - as a big step towards its digitalisation.
Sarenza, which is based in Paris, will benefit from Monoprix's reach in the French market, particularly in urban areas where it has struggled to have as much of an impact.
Towards the back end of last year, Casino Group struck an agreement with British online supermarket Ocado to develop an e-commerce platform that can be utilised by its businesses, such as Monoprix.
"In our city-centre locomotives stores, Monoprix uniquely combines a food offering, a non-food offering and innovative services. It is perfectly logical to recreate this complete offering online," said Monoprix's Chairman Régis Schultz.
"After the agreement with Ocado last November, which reinforces our leading status on food delivery, Monoprix will position itself, with Sarenza, as a major player in non-food e-commerce."
Sarenza's CEO Stéphane Treppoz added: "We are very pleased with this integration project, allowing us to join a major distribution group and to expand our product offering by leveraging the expertise of Monoprix, one of the most cutting-edge, innovative and popular brands among French people."