“When inflation arrived, I said to myself: ‘We’re going to get stoned,’” confides
Michel-Édouard Leclerc while receiving
Le Figaro
in his huge office filled with souvenirs overlooking the Seine, on the sixth floor of the headquarters of the teaches, in Ivry.
In spring 2022, shortly after the invasion of Ukraine by the Russian army, food prices started to rise again in supermarkets in France, after more than a decade of slight decline caused by the price war between distributors.
A rise interrupted until last summer, barely softened by a mini-reflux observed this fall: at the end of January 2024, prices remain 21% higher than their level two years ago.
This could have sounded the death knell for the champion of low prices, and sowed chaos among the approximately 555 independent traders members of the E.Leclerc movement.
On the contrary, the two years of hyperinflation have benefited the French distribution leader.
For Michel-Édouard Leclerc, president of…
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