The boss of GiFi received La Dépêche du Midi at his home this Thursday morning for a long interview to be published on Saturday. In preview, Philippe Ginestet presents his plan to bounce back from May 11. This is a vast reunion operation with the loyal customers of its stores. The objective is to dispose of stocks and erase the 200 million euros of losses estimated during the crisis.
The national flagship of the distribution of low-cost products for the home and family, the Gifi group did not benefit from the same upturn as the retail chains during containment. At the time of welcoming us to his home this Thursday morning, in a house that looks like a haven of peace, perched above a lush nature, in the heart of Lot-et-Garonne, its founding president indeed encamps a whole other decor: “We, we had to lower the curtain! 600 closed stores, 6000 employees to protect and 200 million euros of estimated losses …” This is the cost of the health crisis according to Philippe Ginestet.
Not enough to undermine the incredible confidence capital that drives this self-taught who has already gone through other storms. His plan to bounce back by September, he had time to refine it during the fifty days of confinement he just spent alongside his wife. And, as often with Philippe Ginestet, it is built on people. “We have benefited from partial unemployment and we benefit from a State loan which is welcome, but in view of the huge stocks we have, we must sell them off. It is not a question of talking about profitability, but “We need cash to restart the machine. Some of our employees have already been at work since this week to restart our stores.” They will be ready to open this Monday, May 11 to launch “the operation reunion with our loyal customers.
“A reunion operation with less 50% on the whole store”
The boss of Gifi therefore addresses his customers first: “We need them! We need you! For us who are real traders, we have missed our customers. We were unhappy to be cut off from them. ” To let them know and to sell stocks as quickly as possible at a time of the year which, with Christmas, usually makes the bulk of sales in Gifi stores, the one that built the beginning of its commercial history by running the clearance sales. city to city, has a new vision. “These are always the simplest, most effective ideas. We want to offer our customers the opportunity to have fun by taking advantage of 50% discount in the form of vouchers that can be used the following month. With this operation minus 50% on the whole store, not only do we prove to our customers how much we have missed them, but it is also a way to create responsible traffic with 50% discount in May in the form of valid vouchers in June.”
Philippe Ginestet is convinced that the crisis has not broken the codes of pleasure consumption: “On the contrary, after this long period of confinement, the French will need to offer themselves this breath of fresh air and with our low prices which are transformed into very small prices, it will be possible. Especially since the surfaces of our stores allow the respect of the new sanitary codes. ” He even sees much further since he has not lost sight of the course he has set for his retirement: “Reach 10,000 employees in 2027. So I will already do everything to keep those I already have. There are other great business stories to write about. ” Philippe Ginestet knows what he is talking about, he whose journey has already been the subject of two books, while a third is already in preparation.
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