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70-595: Fnac was founded by André Essel and Max Théret in 1954. Its headquarters is located in Le Flavia in Ivry-sur-Seine near Paris. Its name is an abbreviation of Fédération Nationale d’Achats des Cadres ("National Purchasing Federation for Cadres "). It merged with Darty in 2016 to become Groupe Fnac Darty . Max Théret had a passion for photography which began in 1932. Hunted by the Gestapo , Théret left

140-481: A marine west coast climate , abbreviated "Cfb" on climate maps. Ghent is home to many people of foreign origin and immigrants. The 2020 census revealed that 35.5% of the inhabitants had roots outside of Belgium and 15.3% had a non-Belgian nationality. Many neighbourhoods already have a minority-majority population, primarily in the north, east, and west of the city and some pockets in the south. Some examples are Brugse Poort, Dampoort, Rabot, Ledeberg, Nieuw Gent/UZ and

210-400: A 5% discount on hardware, books and various monthly offers. Fnac stores stock a range of products from audio, books, CDs, computer software and hardware, DVDs, televisions and video games. Some stores also operate services of photography and ticket sales. The company also offers a selection of more expensive consumer products positioning themselves above discount retailers. Fnac's head office

280-505: A new magazine-based buyers club. Founded 1954, Fnac was a members-only discount buyers' club, offering sharp discounts on commercial and consumer products, based on the founders' socialist principles. Their aim was to improve the lives of the workers, not through higher salaries but through lower prices. The first shop was opened in a sublet , a second-floor apartment on the rue de Sebastopol in Paris on July 31, 1954. The brand positioning of

350-475: A public institution known for its radical productions. The theatre company's home base is in the Royal Dutch Theatre  [ nl ] (Koninklijke Nederlandse Schouwburg, or KNS), with a secondary location in the city at Minnemeers. The company also tours extensively. In Ghent and other regions of East Flanders , bakeries sell a donut-shaped bun called a "mastel" (plural "mastellen"), which

420-732: A recreation park (Blaarmeersen, 87 hectares; 215 acres). The port of Ghent , in the north of the city, is the third-largest port of Belgium. It is accessed by the Ghent–Terneuzen Canal , which ends near the Dutch port of Terneuzen on the Western Scheldt . The port houses, among others, large companies like ArcelorMittal , Volvo Cars , Volvo Trucks , Volvo Parts , Honda , and Stora Enso . The Ghent University and several research-oriented companies, such as Ablynx, Innogenetics, Cropdesign, and Bayer Cropscience, are situated in

490-813: A small portion of the abbey was spared demolition. The late 16th and 17th centuries brought devastation because of the Eighty Years' War . The war ended the role of Ghent as a centre of international importance. In 1745, the city was captured by French forces during the War of the Austrian Succession before being returned to the Empire of Austria under the House of Habsburg following the Treaty of Aix-la-Chapelle in 1748. This part of Flanders became known as

560-1180: A website (fnac.pt), which was the most popular commercial website in Portugal in 2007. There are two FNAC stores in the capital Doha, one in Laguna Mall, the other one in Doha Festival City. There are 26 Fnac stores in Spain, including: Plaza Callao (Madrid), L'illa ( Barcelona ), San Agustín ( Valencia ), Triangle (Barcelona), Coso ( Zaragoza ), Bulevar ( Alicante ), Parque Principado ( Oviedo ), Diagonal Mar (Barcelona), La Cañada ( Marbella , Málaga), Plaza (Marbella, Málaga), Plaza Norte ( San Sebastián de los Reyes, Madrid ), ParqueSur ( Leganés , Madrid), Donostia ( San Sebastián ), Nueva Condomina ( Murcia ), Bilbao ( Bilbao ), Ave. de La Constitución ( Seville ), Praza de Lugo ( Corunna ), Centro Comercial Larios Centro ( Málaga ), Plaza Imperial ( Zaragoza ), Centro Comercial Rio Shopping ( Valladolid ) La Gavia (Madrid), Paseo de la Castellana (Madrid) and Centro Comercial La Morea ( Pamplona ). The headquarters

630-727: A word related to the English ' marsh ') were ideally suited for herding sheep, the wool of which was used to make cloth. Ghent was the leading city for cloth during the Middle Ages. The wool industry , originally established at Bruges , created the first European industrialized zone in Ghent in the High Middle Ages . The mercantile zone was so highly developed that wool had to be imported from Scotland and England, which led to Flanders' good relationship with them. However, during

700-613: Is a port and university city. The city originally started as a settlement at the confluence of the Rivers Scheldt and Leie . In the Late Middle Ages Ghent became one of the largest and richest cities of northern Europe , with some 50,000 people in 1300. After the late 16th century Ghent became a less important city, resulting in an extremely well-preserved historic centre, that now makes Ghent an important destination of tourism. The municipality comprises

770-504: Is a famous Catholic burial site of the nobility and artists. One of the more notable pieces of contemporary architecture in Ghent is De Krook , the new central library and media center, a collaboration between local firm Coussée and Goris and Catalan firm RCR Arquitectos. Important museums in Ghent are the Museum voor Schone Kunsten (Museum of Fine Arts), with paintings by Hieronymus Bosch , Peter Paul Rubens , and many Flemish masters;

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840-646: Is basically a bagel. "Mastellen" are also called " Saint Hubert bread", because, on the Saint's feast day, which is 3 November, the bakers bring their batches to the early Mass to be blessed. Traditionally, it was thought that blessed mastellen immunized against rabies . Other local delicacies are the praline chocolates from local producers such as Leonidas , the cuberdons or 'neuzekes' ('noses'), cone-shaped purple jelly-filled candies (a four-year feud between two local vendors made international news), 'babelutten' ('babblers'), hard butterscotch-like candy, and of course, on

910-519: Is in Le Flavia in Ivry-sur-Seine , France. The 6 story building was designed by Jean-Claude Besseau and has 16,400 square metres (177,000 sq ft) of space. The building is a part of the Ivry Port project. Andr%C3%A9 Essel André Essel (4 September 1918 – 31 March 2005) was the co-founder of Fnac , originally Fédération nationale d’achats des cadres, or National Purchasing Federation for Middle Managers , alongside Max Théret . He

980-681: Is linked to the recognition of the detrimental environmental effects of meat production , which the United Nations ' Food and Agriculture Organization has established to represent nearly one-fifth of global greenhouse gas emissions . The city is host to some big cultural events such as the Ghent Festival , the International Film Festival of Ghent (with the World Soundtrack Awards ) and

1050-944: Is located in Pozuelo de Alarcón, Madrid . As of 2018, there are six Fnac stores in Switzerland, two in Geneva, one in Lausanne , one in Fribourg , one in Conthey and one in Neuchâtel . Fnac operates two stores in Tunisia. The first one opened in 2018 in Tunis , and the second in 2019 in Sousse . Fnac operates a loyalty programme offering points that are awarded each time the card

1120-414: Is presented at the till-point, for each euro spent. A membership fee applies. For every 4,000 points earned, a gift card worth €10 is issued to the card holder. As of 2008, the programme has 1.8 million members, with the loyalty card also serving as a credit card. As of 2008, there are two versions of the card, a one-year membership card or alternatively a three-year membership card. The membership card offers

1190-411: Is usually served nouvelle-cuisine-style and supplemented by a large pot on the side. The city promotes a meat-free day on Thursdays called Donderdag Veggiedag with vegetarian food being promoted in public canteens for civil servants and elected councillors, in all city-funded schools, and promotion of vegetarian eating options in town (through the distribution of "veggie street maps"). This campaign

1260-711: The Austrian Netherlands until the exile of the French Emperor Napoleon I , the end of the French Revolutionary and later Napoleonic Wars , and the peace treaties arrived at by the Congress of Vienna in 1815. In the 18th and 19th centuries, Ghent's textile industry flourished again. Lieven Bauwens , having smuggled the industrial and factory machine plans out of England, introduced the first mechanical weaving machine on

1330-587: The COVID-19 pandemic in Belgium , being held again in the summer of 2022, after a two-year break. The Festival of Flanders had its 50th celebration in 2008. In Ghent, it opens with the OdeGand City festivities that take place on the second Saturday of September. Some 50 concerts take place in diverse locations throughout the medieval inner city and some 250 international artists perform. Ghent co-hosted

1400-954: The European continent in 1800. The Treaty of Ghent , negotiated here and adopted on Christmas Eve 1814, formally ended the War of 1812 between Great Britain and the United States (the North American phase of the Napoleonic Wars). After the Battle of Waterloo , Ghent and Flanders , previously ruled from the House of Habsburg in Vienna as the Austrian Netherlands, became a part of the United Kingdom of

1470-639: The Gent Festival van Vlaanderen  [ nl ] . Also, every five years, an extensive botanical exhibition ( Gentse Floraliën ) takes place in Flanders Expo in Ghent, attracting numerous visitors to the city. The Ghent Festival ( Gentse Feesten in Dutch) is an annual festival that lasts for ten days. It has been held for more than 50 years (since 1969) and is attended by about 1–1.5 million visitors. It did not take place in 2020 and 2021 due to

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1540-520: The Hundred Years' War , trade with England suffered significantly. Ghent was the birthplace of John of Gaunt , Duke of Lancaster . The city recovered in the 15th century when Flanders was united with neighbouring provinces under the Dukes of Burgundy . High taxes led to a rebellion and eventually to the Battle of Gavere in 1453, in which Ghent suffered a terrible defeat at the hands of Philip

1610-578: The Occupied Zone in 1942, moving to Grenoble , where he took up photography as a career. After the war, he trained as a photo laboratory technician, founded his own laboratory, and later constructed the first colour-processing machine in France. In 1951, while working for the telephone company , he founded Economie Nouvelle, a membership discount buying group for products sold through participating merchants. In 1952, Théret and André Essel conceived

1680-649: The Roman period, but archaeological research confirms that the Ghent area continued to be inhabited. When the Franks invaded the Roman territories from the end of the 4th century and well into the 5th century, they brought their language with them, and Celtic and Latin were replaced by Old Dutch . Around 650, Saint Amand founded two abbeys in Ghent: St. Peter's ( Blandinium ) and St. Bavo's Abbey . Around 800, Louis

1750-656: The SMAK or Stedelijk Museum voor Actuele Kunst (City Museum for Contemporary Art), with works of the 20th century, including Joseph Beuys and Andy Warhol ; and the Design Museum Gent with masterpieces of Victor Horta and Le Corbusier . The Huis van Alijn (House of the Alijn family) was originally a beguinage and is now a museum for folk art where theatre and puppet shows for children are presented. The Museum voor Industriële Archeologie en Textiel or MIAT displays

1820-644: The Sint-Pieters railway station was completed in 1912. Ghent was occupied by the Germans in both World Wars but escaped severe destruction. The life of the people and the German invaders in Ghent during World War I is described by H. Wandt in "etappenleven te Gent". In World War II the city was liberated by the British 7th "Desert Rats" Armoured Division and local Belgian fighters on 6 September 1944, with

1890-666: The 2021 World Choir Games together with Antwerp . Organised by the Interkultur Foundation , the World Choir Games is the biggest choral competition and festival in the world. Ghent has been chosen as the 2024 European Youth Capital by the European Youth Forum . The numerous parks in the city can also be considered tourist attractions. Most notably, Ghent boasts a nature reserve ( Bourgoyen-Ossemeersen , 230 hectares (570 acres) ) and

1960-626: The Good . Around this time the centre of political and social importance in the Low Countries started to shift from Flanders (Bruges–Ghent) to Brabant ( Antwerp – Brussels ), although Ghent continued to play an important role. With Bruges, the city led two revolts against Maximilian of Austria , the first monarch of the House of Habsburg to rule Flanders. In 1500, Juana of Castile gave birth to Charles V , who became Holy Roman Emperor and King of Spain . Although native to Ghent, he punished

2030-562: The Netherlands with the northern Dutch for 15 years. In this period, Ghent established its own university (1816) and a new connection to the sea (1824–27). After the Belgian Revolution , with the loss of port access to the sea for more than a decade, the local economy collapsed, and the first Belgian trade union originated in Ghent. In 1913 there was a world exhibition in Ghent . As a preparation for these festivities,

2100-520: The Pious , son of Charlemagne , appointed Einhard , the biographer of Charlemagne, abbot of both abbeys. The city grew from several nuclei, the abbeys, and a commercial centre. However, in 851 and 879 the city was plundered by Vikings . Under the protection of the County of Flanders the city recovered and flourished from the 11th century, growing to become a small city-state . By the 13th century, Ghent

2170-827: The Republic of Congo. Fnac operates thirteen stores in Belgium, located in Aalst, Antwerp (two stores, including one in the outskirts of Wijnegem), Bruges, Brussels (three stores), Charleroi, Ghent, Hasselt , Leuven, Louvain-La-Neuve and Liège. At the height of its popularity in Brazil, there were twelve Fnac stores. In July 2017, all Fnac operations in Brazil were transferred to Livraria Cultura . In October 2018, all shops were closed and online operations ceased. Fnac operated several stores in Italy since 2000 in cities like Bologna, Milan, and Rome. In 2014, they all closed and their ownership

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2240-528: The area around Sleepstraat (known for its many Turkish restaurants). The composition of the 2018 – 2024 city council: Much of the city's medieval architecture remains intact and is remarkably well preserved and restored. Its centre is a carfree area . Highlights are St. Bavo's Cathedral with the Ghent Altarpiece , the belfry , the Gravensteen castle , and the splendid architecture along

2310-542: The central and southern part of the city. As the largest city in East Flanders, Ghent has four large hospitals, numerous schools, and shopping streets. Flanders Expo , the biggest event hall in Flanders and the second biggest in Belgium, is also located in Ghent. Tourism is becoming a major employer in the local area. As one of the largest cities in Belgium, Ghent has a highly developed transport system. By car

2380-474: The city after the 1539 Revolt of Ghent and obliged the city's nobles to walk in front of the Emperor barefoot with a noose (Dutch: "strop" ) around the neck; since this incident, the people of Ghent have been called " Stroppendragers " (noose bearers). St. Bavo's Abbey (not to be confused with the nearby St. Bavo's Cathedral) was abolished, torn down, and replaced with a fortress for Royal Spanish troops. Only

2450-739: The city centre of Casablanca. There are 32 Fnac stores in Portugal, including: Colombo (Lisbon), NorteShopping ( Matosinhos ), Armazéns do Chiado (Lisbon), CascaiShopping ( Cascais ), Oeiras Parque ( Oeiras ), Santa Catarina ( Porto ), Almada ( Almada ), GaiaShopping ( Gaia ), AlgarveShopping ( Albufeira ), Intermarche ( Lagos ), Forum Coimbra ( Coimbra ), MadeiraShopping ( Madeira ), Braga Parque ( Braga ), Alegro ( Alfragide ), Palácio do Gelo ( Viseu ), MarShopping-IKEA ( Matosinhos ), Vasco da Gama (Lisbon), GuimarãeShopping ( Guimarães ), LeiriaShopping ( Leiria ), Lisbon Airport (Lisbon), Alegro Setúbal ( Setúbal ), Fórum Montijo ( Montijo ), Fórum Évora ( Évora ), UBBO ( Amadora ) and Amoreiras Shopping (Lisbon). Also

2520-400: The city of Ghent proper and the surrounding suburbs of Afsnee , Desteldonk , Drongen , Gentbrugge , Ledeberg , Mariakerke , Mendonk , Oostakker , Sint-Amandsberg , Sint-Denijs-Westrem , Sint-Kruis-Winkel , Wondelgem and Zwijnaarde . With 269,191 inhabitants at the end of 2023, Ghent is Belgium's second largest municipality by number of inhabitants. The metropolitan area , including

2590-640: The company added its 45th French store, while a second Spanish store, in Barcelona was opened in 1996. In 1995, the Fnac store was closed in Berlin and the company instead continued its international expansion in Belgium, which were now becoming profitable. In October 1996, the new parent company assumed full control of the Belgian affiliate and announced plans to double the number of stores in Belgium that began with

2660-518: The company began opening shops in the French provinces outside Paris and a third in the city itself that sold books, the newest addition to the product range. The founders of the company sold 40 percent of the company to insurance firm Union des Assurances de Paris (now Axa ) to raise money to fund growth. In turn, the insurance firm sold 16 percent of its shares to investment bank Banque de Paris et des Pays Bas (later Banque Paribas ) in 1972. In 1974,

2730-413: The company began selling books at 80% of the recommended retail price , sparking protests from publishers, writers and independent booksellers alike, who could not benefit from the economies of scale . This prompted government action in 1982 with the so-called 'anti-Fnac' law, that was signed to limit discounts on books to a maximum of five percent. In 1975, videos were added to the product range. Towards

2800-689: The company continued with the training of sales assistants in their product categories, with purchases being guaranteed for one year. Furthermore, all products were tested in the company's independent test centre before sale. The test centre would check for technical quality, ease of use, price, and value for money ("rapport qualité-prix"), and all results were published in the company's free members' magazine Contact , which today can also be found advertised in store. In addition, staff were expected to do more than just sell their products but offer advice to customers and, beginning in 1957, blacklist any unsatisfactory products, such as those with technical difficulties. By

2870-424: The company revealed growing revenues though shrinking profits in the early 1990s, also attributed to the recession in the French economy. In 1991 the company recorded gross sales of FFr 7.4 billion, while profits fell approximately FFr 55 million, to FFr 159.5 million. The following year, despite a rise in revenues to FFr 8.9 billion, the company's net income dropped to FFr 31.9 million. The falling profits for Fnac

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2940-415: The company was fined 10 million euros for "deceptive marketing practices". Customers buying a phone in a FNAC store are indeed offered a refund offer of 30 euros, which leads them to leave their bank details to enjoy, signing unknowingly an insurance contract mixed documents. It then commits them for one year to pay 15.99 euros per month, monthly payments then rising to 37.99 euros, customers often not aware of

3010-536: The company was offered to the public. SGCC, however, maintained a 51 percent control of the company, which now employed more than 2,700 and was declaring turnover of FFr 2.2 billion. Théret left the company in 1981. In 1981, FNAC opened a store in Brussels, Belgium under the management of Sodal, a joint-venture between FNAC (40 percent) and the GIB Group (60 percent). The GIB Group later added three more stores in

3080-455: The company's most important sources of revenue. During the late 1980s, Petriat added a music distribution division following the purchase of Wotre Music Distribution (WMD). In January 1991, Fnac Music was formed. Petriat hoped to build the first French multinational record company, with plans to capture as much as five percent of the market. The 1990s brought fierce competition after the arrival of HMV and Virgin Megastores in 1988 as well as

3150-421: The confluence of the Scheldt and the Leie going back as far as the Stone Age and the Iron Age . Most historians believe that the older name for Ghent, 'Ganda', is derived from the Celtic word ganda , which means ' confluence ', or 'river mouth', referring to the Leie river debouching into the Scheldt . Other sources connect its name with an obscure deity named Gontia . There are no written records of

3220-446: The end of its first full year of operation the company saw revenues of 50 million old francs. In 1957, it was selling televisions, hi-fis, recording equipment, radios and records. In 1966, the Fnac store was opened to non-members and began to expand, opening its second store, also in Paris on the avenue de Wagram, near the Arc de Triomphe in 1969. By this time, the company had 580 employees. The 1970s saw further expansion for Fnac, as

3290-425: The industrial strength of Ghent with recreations of workshops and stores from the 1800s and original spinning and weaving machines that remain from the time when the building was a weaving mill. The Ghent City Museum (Stadsmuseum, abbreviated STAM), is committed to recording and explaining the city's past and its inhabitants, and to preserving the present for future generations. NTGent is the city theatre of Ghent,

3360-448: The investment company Impala, became chairman of the board of directors, while Martinez, who previously headed the Northern Europe region at Fnac Darty, was appointed CEO of the company. In February 2018, the French Property and Casualty Insurance Company (Sfam) became the second largest shareholder in the Fnac Darty group. In August 2018, the UFC-Que choisir announces filing a complaint for "deceptive marketing practices". In June 2019,

3430-405: The late 1970s, Fnac continued to expand by building to 12 stores in Paris and other cities through France. In 1977, the remaining shares of the company's founders were sold to the Société Génerale des Cooperatives de Consommation (SGCC, the financial arm of the Coop retailing group) to raise more capital. FNAC became a Public limited company on the Paris stock exchange in 1980 when 25 percent of

3500-480: The majority stake in FNAC for FFr 1.9 billion to François Pinault, the largest shareholder in and architect of Pinault-Printemps-Redoute. Since 1994, PPR or Pinault-Printemps-Redoute has been the majority shareholder of Fnac and the company was led by François-Henri Pinault, son of the parent company's head François Pinault. The new ownership saw the closure of the WMD and FNAC Music subsidiaries and instead concentrated on further expansion of its retail chain. In 1995,

3570-514: The mid-1980s, in Ghent , Antwerp , and Liège . In 1983, Essel retired and was replaced by the then SGCC president Roger Kerinec. In 1985, SGCC sold its shares to the insurance group Garantie Mutuelle des Fonctionnaires (GMF) due to growing competition from the French hypermarket and discount chains such as Carrefour and E.Leclerc . Michel Barouin, GMF's president and director general, took these positions at FNAC as well. In 1987, Barouin disappeared in an airplane accident and Jean-Louis Petriat

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3640-445: The more fiery side, the famous 'Tierenteyn', a hot but refined mustard that has some affinity to French 'Dijon' mustard. Stoverij is a classic Flemish meat stew, preferably made with a generous addition of brown 'Trappist' (strong abbey beer) and served with French fries. ' Waterzooi ' is a local stew originally made from freshwater fish caught in the rivers and creeks of Ghent, but nowadays often made with chicken instead of fish. It

3710-413: The northern suburbs and the industrial area cleared over the following days by the 15th (Scottish) Infantry Division . After the fusions of municipalities in 1965 and 1977, the city is made up of following sub-municipalities : The climate in this area has mild differences between highs and lows, and there is adequate rainfall year-round. According to the Köppen climate classification system, Ghent has

3780-399: The old Graslei harbour. Ghent has established a blend between comfort of living and history; it is not a city-museum. The city of Ghent also houses three béguinages and numerous churches including St. Jacob's Church, St. Nicholas' Church , St. Michael's Church and St. Stefanus' Church . In the 19th century Ghent's most famous architect, Louis Roelandt , built the university hall Aula,

3850-437: The opening of a fifth store in 1997. In March 1996, François-Henri, was named chairman of Fnac and opened two stores in France. At this point, Fnac had revenues passing FFr 10 billion and net earnings of FFr 200 million. In 1999, the first Fnac store outside Europe was opened in São Paulo, Brazil. In 2013, Kering (formerly PPR) spun off Fnac as an independent company. In 2017, Fnac Darty launched into online advertising with

3920-511: The opera house, and the main courthouse. Highlights of modern architecture are the university buildings (the Boekentoren or Book Tower) by Henry Van de Velde . There are also a few theatres from diverse periods. The beguinages, as well as the belfry and adjacent cloth hall, were recognized by UNESCO as World Heritage Sites in 1998 and 1999. The Zebrastraat , a social experiment in which an entirely renovated site unites living, economy, and culture, can also be found in Ghent. Campo Santo

3990-436: The outer commuter zone, covers an area of 1,205 km (465 sq mi) and had a total population of 560,522 as of 1 January 2018, which ranks it as the fourth most populous in Belgium. The current mayor of Ghent is Mathias De Clercq ( Open Vld ). The ten-day-long Ghent Festival ( Gentse Feesten ) is held every year and attended by about 1–1.5 million visitors. Archaeological evidence shows human presence around

4060-436: The sale of its own web spaces to advertisers. In particular, the group set up a specialised department in January, headed by Arnauld de Saint Pastou. In May 2017, Fnac launched its own bank card, called Fnac Mastercard, in partnership with Crédit Agricole and Consumer Finance. In July 2017, Enrique Martinez and Jacques Veyrat became the new bosses of Fnac and replaced Alexandre Bompard, who left for Carrefour. Veyrat, chairman of

4130-452: The situation that several months later. In April 2020, following the outbreak of the COVID-19 pandemic, Fnac was the first large French company to tap a government-guaranteed loan (500 million euro). In 2024, FNAC opens its first café at Gare du Nord. As of October 2018, the company owns stores in France, Belgium, Portugal, Spain, and Switzerland, and is present as franchising in Luxembourg, Morocco, Qatar, Ivory Coast, Cameroon, Senegal and

4200-418: The size of the Virgin megastore, which became known as "the Cathedral". In 1991, the first Fnac store was opened in Berlin continuing with Petriat's plans, this was close to the original Virgin megastore, which opened there only a few months earlier. In 1992, the fate of FNAC Librairie Internationale, featuring books in languages other than French, was sealed and closed after only a year of trading. This store

4270-442: The strength of hypermarkets. The company responded by cutting its prices and stepping up the competition, which forced HMV to leave France after only six months. Virgin Megastores remained in the French market, and decided to open two more stores in addition to its original store in Paris. In response to the megastore, as seen to the right, Fnac spent around $ 23 million to build its own megastore, at 32,000 square metres, more than twice

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4340-447: Was a similar situation to the parent company, GMF whose share count totalled more than 80 percent. To raise more capital, GMF agreed to sell its shares of FNAC in July 1993 to Altus Finances, a subsidiary of government-owned Crédit Lyonnais , and Phenix, a property group owned by French waterworks company Compagnie Générale des Eaux , for FFr 2.4 billion. The deal came under scrutiny by the Commission des opérations de bourse (COB) though

4410-429: Was allowed to proceed in September 1993. Crédit Lyonnais became the majority shareholder, with 64 percent of shares, while Générale des Eaux held 34 percent. The remaining two percent of shares continued to be publicly owned. In 1994, Crédit Lyonnais announced it was going to sell its 64 percent share of the company as part of a FFr 20 billion asset-reduction plan. In July 1994, the Altus Finances subsidiary agreed to sell

4480-417: Was also an anti-fascist activist and a believer in Trotskyism . Essel was awarded the French Cross of War honouring his involvement in the Second World War on the side of the Allies against the Axis forces . In 1953, he met Max Théret , the other co-founder of Fnac , and the two conceived the idea of forming a new buyers club through a magazine called Contact . Founded a year later in 1954, Fnac

4550-449: Was converted to a computer products-only concept, called FNAC Micro, which proved more successful. In 1993, the first Fnac store was opened in Madrid, Spain. However, the FNAC Music subsidiary, while posting some successes, failed to live up to the company's expectations and was unable to gain more than a two percent market share and was eventually sold off the distribution arm WMD, which shut down FNAC Music in 1994. Despite some failures,

4620-421: Was exclusive to its members only, offering sharp discounts on its products, based on the founders socialist principles. Their aim was to improve the lives of the workers, not through higher salaries but through lower prices. In 1974, Fnac began selling books at 80% off the RRP , sparking protests and a law, in 1982, that limited the level of discounts that could be offered on books. He left the company in 1983 and

4690-417: Was named to lead both GMF and FNAC. In 1988, the first Virgin Megastore opened in Paris. Petriat announced a FFr 1.5 billion plan to add 15 new stores to the 31-store chain and double the company's gross revenues, in order to compete with the new entrant to the French market. Petriat also had plans to expand into the German market. By this point, sales of compact discs and other recordings had joined books as

4760-435: Was replaced by Roger Kerinec , the SGCC president. Ghent Ghent ( Dutch : Gent [ɣɛnt] ; French : Gand [ɡɑ̃] ; historically known as Gaunt in English) is a city and a municipality in the Flemish Region of Belgium . It is the capital and largest city of the province of East Flanders , and the third largest in the country, after Brussels and Antwerp . It

4830-414: Was the biggest city in Europe north of the Alps after Paris ; it was bigger than Cologne or Moscow . Up to 65,000 people lived within the city walls. The belfry and the towers of the St. Bavo's Cathedral and St. Nicholas' Church are just a few examples of the skyline of the period. The rivers flowed in an area where much land was periodically flooded. These rich grass 'meersen' (" water-meadows ":

4900-475: Was transferred to Orlando Italy fund. Fnac operates as a franchise within the Grand Duchy of Luxembourg, its webstore operates through the Belgian platform. Fnac operates a single store in Monaco, in the Métropole shopping centre. In 2011, Fnac opened its first store in Africa, located in Morocco Mall in Casablanca , Morocco. In 2017, Fnac opened their second store in Morocco, located in Ibn Batouta Mall in Tangier . In 2018, they opened Fnac Anfa located in

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