$1,070 $m
Furniture and electronics retailer Conforama was acquired by the Steinhoff Group with the primary objective of developing the brand nationally and internationally. Through the acquisition, Conforama gained presence through points of sale, media, advertising and social networks, yet some of the recent strategic decisions indicate a lack of market understanding. This is evident through the focus on low cost versus increasing the relevance of the offer. Conforama worked to decrease operational costs by merging its purchasing department with Steinhoff to gain purchasing power. Conforama is expanding its Confo Deco store format in main French cities and has opened a flagship in Paris. Sales are up to 3.1 billion euros (USD $4.1 billion).