The Japanese company Seven & I Holdings is looking to sell down its stake in home-décor chain Francfrannc as it narrows its focus on convenience retailing.
Retail giant Seven & I Holdings, who are the parent company of the 7-Eleven business bought a 49 per cent share of Francfranc back in 2013 for around $36M when the company was going through some difficult trading times. However in the intervening eight years it has failed to realise the profits that were anticipated despite robust restructuring and its extensive experience in the homewares category built through its department store heritage.
The Francfranc investment was just one of many forays into new retail categories as Seven & I tried to diversify its portfolio, struggling – like most Japanese companies – to maintain growth in a stagnant and ageing population. Other investments included Tower Records, Sogo & Seibu a maternity goods brand called Akachan Honpo, and Barneys Japan.
