Back to normal view



History & Development



1990-1996

The Global Food story began in 1990, when we opened the company’s first store in Paris. Five years later, there were 24 Global Food stores in France ringing up $11.5 million in sales. In 1998, the company officially incorporated as Global Food Stores Inc. on April 01, 1990 and went on the stock market in the same year. On August 12, 1996, Global Food shares are listed for the first time on the CAC40 Paris Stock Index (symbol: JOKE). Global Food ends the year 1996 as one of the 20 largest publicly listed companies in France. It also advances its internationalization process: the company expands into Germany and Italy.

1997-1999

Global Food further advances its expansion outside of France: the opening of the first Global Food wholesale outlet in the Czech Republic and the Polish market.

In the year 1998, earnings before interest and taxes (EBIT) grow 57.5 percent. Our shares outstrip all other CAC40 stocks. The group streamlines its portfolio further: Global Food has become a clearly structured corporation. Progress is also made in internationalization: in 1998, business abroad already contributes 35.2 percent to total turnover. In 1999, 16 Global Food stores open abroad. The share of turnover generated outside of France grows to 33 percent.

2000-2004

Global Food entered the new millennium with the publication in Fortune magazine which ranked the company fifth in its "Global Most Admired All-Stars" list. For the first time, the group releases its financial statement for the year 2000 in accordance to the International Accounting Standards (IAS), to achieve greater transparency in its accounting. The company makes further progress in its international expansion course: 80 new locations are added in 2001, including the first store in Russia. By 2004, Global Food operates in 8 countries. Business in Eastern Europe and Asia makes an especially strong contribution to the positive development of its sales. Global Food opens its first store in Ukraine. Being one of the leading companies in its sector, Global Food implements the new computer-based innovative technology to facilitate more efficient warehouse management, while rendering shopping faster, more individual and convenient. As of August 2004, consumers can experience the future of retail at the Global Food store in Paris.

2005-2006

Global Food marked a significant turning point in 2005 with a new commitment to bring environmental sustainability into its business. Global Food created experimental stores that save energy, conserve natural resources, and reduce pollution. The company served more than 13 million weekly customers in Europe. By 2006, the number of weekly customers grew to more than 17 million. Global Food had record net sales of $34 billion.

2007

Global Food is continuing its international expansion by opening the first store in Pakistan and Turkey. In order to help customers get a balanced diet, Global Food is implementing nutrition facts for its own brands. The company also sets an example regarding the balance between work and family.