TO BE CONTINUED | Monnier Paris is an e-commerce platform for luxury accessories, the spearhead of French fashion. With 400,000 active customers, we have seen 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 fashion. Created 10 years ago, the brand distributes women’s and men’s luxury products (bags, shoes, jewelry and others) from 140 brands, including Balenciaga, Burberry, Balmain, Coach, Off-White, Jacquemusetc. We are present in Asia (45%), in Europe (35%), in the USA (20%).
I resumed monnier two years ago, just before the health crisis, with the desire to bring this traditional online sales portal into the technological age, in particular to attract young consumers, i.e. Millennials and Generation Z, who represent 70% of our traffic. site.
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 in 2021.
We have just renamed ourselves Monnier Paris (formerly Monnier Frères) to emphasize our “Made in Tech, made in Paris, made in Fashion” philosophy and the fact that we are the only native French digital player of this independent size.
Diaa Elyacoubi : The desire to turn Monnier Paris into a fashion pioneerTech came after many trips to Asia
How did you come up with this idea?
the will to turn Monnier Paris into a fashion pioneerTech came after many trips to Asia where I studied and analyzed all new ways of doing business, in particular using social media and game codes. But above all, I realized that the luxury business was fleeing France, the birthplace of fashion and luxury. Such a shame when we have French Touch and French Tech that the whole world envy us!
We implement a whole series of innovations for our customers, starting with live shopping – become an important growth lever. We also set records with the one presented by Lena Situations. The Monnier website is also equipped to accommodate customer avatars and now accepts cryptocurrencies. We also co-created NFT drops with French artists Ben Elliot and Sylvie Barco and marketed the Virtual clothing collection under the republiqe brand.
More recently, we entered the metaverse by opening an online 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 allow them to rely on an agile and innovative player capable of integrating new virtual worlds, while exploring new fluid and innovative customer journeys.
Why did you choose to become an entrepreneur?
Graduated in engineering (Escola Nacional de Telecomunicações), 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 optimizing network flows at the birth of 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 that ofingenic that I followed for 10 years until 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 entrepreneurship fever hit me again, but for the better. We are about to experience a technological revolution even stronger than the arrival of the Internet in the 2000s. It is up to us to build this extraordinary world that awaits us – where everything is possible – and to make the French cultural exception shine in the metaverse.
O + FORBES : Exclusive interview with Lena Situation