Nearly 800 million euros in turnover
Boosted by its prices 30 to 40% lower than the conventional circuit, Noz benefits from serial bankruptcies and the purchasing power crisis. It also benefits from its almost unique positioning in France, with a world of competition that is limited to a few local brands.
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Owned by its founder Rémy Adrion (257th fortune in France), the destocker should still see its turnover increase by 13% in 2024, to reach 800 million euros, after record growth of nearly 30% per year. last. “We are more visible in the current contextexplains Marine Coïc, director of operations. But we have not revolutionized our model in forty-eight years. Customers come to us without knowing what they will find, but to look for the smart purchase. »
“Their weak point is their high turnover”
To maintain its promise of unbeatable prices, Noz is tough on business. At the Laval headquarters (Mayenne), in an open space, an army of buyers is active all day long, connected to the telephone. “We first set the selling price in store, then the purchase price, explains a former employee of the brand. We explain that a Michael Kors shirt is worth 10 cents because it is the collection from three years ago, or because in France the brand has a bad image. » Noz is in a strong position: he offers suppliers to rid them of their overstocks, where destroying them would be costly and sometimes illegal.
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“To sell at reduced prices, Noz reduces personnel costs as much as possible,” adds consultant Noël Zierski. By structuring its group into 600 companies and generalizing the status of independent worker, Adrion prevents any staff representative body. And may close stores as soon as Noz receives less inventory. The founder – defender of this model which he considers entrepreneurial – however had to slow down its development in the face of alerts from the Labor inspectorate. Weighed down by its reputation, the company struggles to recruit. “Their weak point is their high turnover among buyers,” judges a competing local brand.
Another point of weakness: the low reputation of the brand far from city centers, which can only really count on word of mouth to make itself known. No question, either, of spending a cent on a commercial website: “Our suppliers do not want us to make visible prices that are significantly cheaper than in the traditional circuit,” judge Marine Coïc. A discretion which does not seem to really harm them.
