TO BE CONTINUED † Monnier Paris is an e-commerce platform for luxury accessories, the spearhead of French fashionTech. With 400,000 active customers, we have had double-digit annual growth since 2020, between +50 and 100%. Exclusive interview with Diaa Elyaacoubi, successful entrepreneur.
What is the Monnier Paris principle?
Diaa Elyaacoubi: Monnier Paris is an e-commerce platform for luxury accessories, the spearhead of French fashionTech. Founded 10 years ago, the brand distributes luxury products for women and men (bags, shoes, jewelry and others) from 140 brands, including Balenciaga, Burberry, Balmain, Coach, Off White, Jacquemus, and so forth. We are present in Asia (45%), in Europe (35%), in the US (20%).
I resume monnier two years ago, just before the health crisis, with the desire to bring this traditional online sales portal into the technological age, especially to attract young consumers, ie millennials and generation Z, who account for 70% of our site traffic.
A successful bet because with 400,000 active customers, since 2020 we have registered double-digit annual growth, between +50 and 100%with a turnover of 40 million euros for 2021.
We have just rebranded ourselves as Monnier Paris (formerly Monnier Frères) to emphasize our philosophy “Made in Tech, made in Paris, made in Fashion” and the fact that we are the only native French digital player of this independent size.
Diaa Elyaacoubi : The desire to turn Monnier Paris into a fashionTech pioneer came after many trips to Asia
How did you come up with that idea?
the will to transform Monnier Paris into a fashionTech pioneer came after many travels to Asia where I studied and analyzed all new ways of doing business, especially using social networks and game codes. But above all, I realized that the luxury business was escaping France, the cradle of fashion and luxury. Shame when we have the French touch and French Tech that the whole world envies us!
We’ve implemented a whole host of innovations for our customers, starting with the live shopping – become an important lever for growth. We’ve also included record scores with Lena Situations† The Monnier site is also equipped to accommodate customer avatars and now accepts crypto currencies. We also collaborated with French artists Ben Elliot and Sylvie Barco to create NFT drops and market the republiqe branded Virtual clothing collection.
More recently, we’ve entered the metaverse by opening a virtual store during the world’s first fashion week to take place in the Decentraland metaverse.
What is your business model?
We want to support brands in this transformation and enable them to rely on a flexible and innovative player capable of integrating new virtual worlds while leveraging new fluid and innovative customer journeys.
Why did you choose to become an entrepreneur?
Trained as an engineer (National School of Telecoms), I started my career at Bull and Cegetel, before founding the first European VNO, e-Brands, in 1999, which I sold to the Vivendi Universal group. in 2003, I created Streamcore, a deep tech specialized in the optimization of network flows at the birth of the Cloud and Saas† The company developed numerous patents before being sold to Computer Associates in 2012.
I then continued to invest in boards of directors such as those ofIngenico that I accompanied 10 years to the OPE with word linethen the Oddo-BHF Group or the Polytechnic Institute to participate in the emergence of the new generation of French engineers.
In March 2020, the fever of entrepreneurship stung me again, but for the better. We are about to experience a technological revolution even stronger than that of the advent of the Internet in the 2000s. It is now up to us to build this extraordinary world that awaits us – where anything is possible – and to let the French cultural exception shine in the metavers.
DE + FORBES : Exclusive interview with Lena Situation