The tortoise and the hare

After a two-year hiatus, Admic, the $100 million retailer that brought us BHV and Monoprix, is making its next move. This month sees the opening of a third 2,250m2 Monoprix in Zouk, while in November, Monoprix number four, with 3,600m2, will open its doors for business in Hazmieh’s Baabda Plaza. But why the wait, especially with its main competitor Spinneys opening roughly 18,000m2 in Beirut, Tripoli and Sidon? A case of the tortoise and the hare, maybe? “We have been conservative in our expansion strategy,” explains Michel Abchee sitting in his Jnah office. “We wanted to make sure it was underpinned with a solid financial plan.” With Lebanon’s supermarket sector shaping up like a chess game, it is easy to see the strategic reasons behind Admic’s latest moves. Firstly neither Monoprix nor Spinneys have ventured into the Zouk, Kaslik, Jounieh area, and although Spinneys’ flagship is located in nearby Dbayeh,