PARIS, June 7 (Reuters) - Fauchon, one of France’s historic and best-known upmarket food groups, said it was planning to launch a collection of 20 boutique hotels to target wealthy, overseas tourists.
The company is aiming to launch its first hotel this September by Paris’ Place de la Madeleine, the site where Fauchon was founded in 1886, it said.
“The strategy is to establish a portfolio of Fauchon L’Hôtel branded properties, with a goal of 20 hotels over the next decade,” said Jacques-Olivier Chauvin, who heads up Fauchon’s hospitality unit.
Fauchon was saved from bankruptcy in 2004 by French entrepreneur Michel Ducros. It already makes some 80 percent of its sales abroad and has been expanding in Asia and the Middle-East, opening gift stores and restaurants to cater to well-heeled shoppers with a taste for gourmet food. (Reporting by Sudip Kar-Gupta; Editing by Gopakumar Warrier)