Follow | Monnier Paris is a luxury accessories e-commerce platform that is at the forefront of French fashion technology. With 400,000 active clients, we’ve recorded double-digit annual growth since 2020, between +50 and 100%. An exclusive interview with Diaa Al-Yaqoubi, a successful businessman.
What is Monnier Paris principle?
Diaa Al-Yaqoubi: Monnier Paris is a luxury accessories e-commerce platform that is at the forefront of French fashion technology. For 10 years, the brand has been distributing luxury products for women and men (bags, shoes, jewelry, etc.) from 140 brands, including Balenciaga, Burberry, Balmain, Coach, Off-White, Jacquemus, etc. We are located in Asia (45%), in Europe (35%), in the United States (20%).
resumed Monier 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, namely millennials and generation Z, who account for 70% of our website traffic.
A successful bet because with 400,000 active customers, Since 2020, we have recorded double-digit annual growth, between +50 and 100%And its sales volume reached 40 million euros for the year 2021.
We’ve just renamed ourselves Monnier Paris (formerly Monnier Frères) to emphasize our “Made in Technology, Made in Paris, Made in Fashion” philosophy and the fact that we’re the only original French digital player of this independent scale.
Diaa Yaqoubi : The desire to turn Monnier Paris into a leading fashionTech company came after many trips to Asia
How did you come up with this idea?
Will Transforming Monnier Paris into a leading fashionTech company It came after many trips to Asia where I studied and analyzed all the new ways of doing business, in particular the use of social networks and gaming tokens. But above all, I realized that the luxury trade was fleeing France, the cradle of fashion and luxury. Shame when we have the French touch and the French technology that the whole world envies!
We have implemented a whole series of innovations for our clients, starting with direct shopping It becomes an important lever for growth. We also scored record hits with the one hosted by Lena Situations. The Monnier site has also been 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 line with the brand republiqe.
Recently, we entered the metaverse by opening a virtual store during the world’s first fashion week that takes place in the Decentraland metaverse.
What is your business model?
We want to support brands in this transformation and enable them to count on an agile and innovative player who is able to embed new virtual worlds, while exploiting new flexible and innovative customer journeys.
Why did you choose to become an entrepreneur?
I trained as an engineer (National School of Telecommunications), and started my career at Bull and Cegetel, before I founded my first European VNO in 1999, Electronic Brands, which I sold to the Vivendi Universal group. in 2003, It created Streamcore, a deep technology specializing in optimizing network streams at the birth of Cloud and Saas. The company developed several patents before it was sold to Computer Associates in 2012.
Then I continued to invest myself in boards like that atIngenico Which I accompanied for 10 years until OPE with her Rose Lineand then the Oddo-BHF group or Polytechnic Institute to participate in the emergence of a new generation of French engineers.
In March 2020, the entrepreneurial fever hit me again but for the better. We are about to experience a technological revolution more powerful than that of the Internet in the first decade of the 21st century. It is now up to us to build the extraordinary world that awaits us – where anything is possible – and to make French cultural exceptionalism shine through in Metaverse.
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