The French retail chain GiFi closed its stores in Portugal, putting an end to a presence that lasted around three years. The brand had arrived in the country with the promise of offering products for the home and family at reduced prices, positioning itself as an alternative to other low-cost international chains.
The company had started activities in the national market in March 2023, when it opened the first store in Matosinhos. Later, the chain expanded to Aveiro with a second point of sale. According to Jornal de Negócios, both spaces are now closed and the brand no longer has visible operations in Portugal.
Signs that the exit was on the way
In recent months, signs have begun to emerge that the brand’s presence in Portugal could be coming to an end. According to the same source, the social networks associated with the Portuguese operation have not been updated since December.
The brand’s official website is also no longer available, reinforcing the perception that the activity was suspended. The newspaper writes that the future of the commercial spaces that housed the chain’s stores nationwide has not yet been announced.
Expansion fell short of expectations
GiFi’s entry into Portugal took place at a time when several low-cost international networks were reinforcing their presence in the country. Brands like Pepco, KiK or Normal emerged with similar proposals on the market.
However, the expansion of the French chain ended up being limited. According to the same source, the company maintained only two stores in operation before closing the operation, growth that fell short of that recorded by some competitors.
Difficulties arose in the French market
The problems that affected the brand were not limited to the Portuguese market. According to the publication, the company is facing a transformation process in its country of origin, France.
Among the challenges identified are delays in paying suppliers, lack of workers and high debt. The newspaper adds that the company’s liabilities exceed 470 million euros.
Part of the chain will be converted into supermarkets
Changes in the group’s structure are already having an impact on the store network in France. According to , at least 32 brand establishments should be transformed into Grand Frais supermarkets.
This conversion should begin in June this year. According to the same source, other spaces are being closed, although it has not yet been revealed what the fate of all the locations affected by this reorganization will be.
GiFi was founded in September 1981 by Philippe Ginestet. Currently, the executive direction of the company is ensured by his son, Alexander Ginestet.
It should be noted that the group continues to operate a network of around 700 stores spread across 17 countries, including markets such as Spain, Belgium and some African territories. The company presents itself as “a family business whose main objective is to offer children and adults an unforgettable shopping experience full of surprises”.
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