Michel Ducros

Michel Ducros (born 1949) is a French entrepreneur at the head of the French delicatessen company Fauchon, and yacht services company Monaco Marine. He is the former chairman and CEO of Ducros, a family business based on spices and mixed herbs, and still invest in several international companies.[1]

Early life

Born in 1949 in Kehl, southwest Germany, from a father officer in the French army and a mother teacher,[2] Michel Ducros was raised in Buis-les-Baronnies, a village in the Drome region of the southeast of France, where his grandfather harvested lime-tree leaves and lavender, used in herbalism. In 1963 his father Gilbert Ducros, and his uncle Marc Ducros, founded the eponymous family business that sold spices and mixed aromatic herbs.[3]

Career path

At Ducros Company (1971 to 1992)

After he graduated from college in Paris, Ducros joined the family business in 1971, where he was successively sales manager, and then marketing director between 1971 and 1985, and launched the first TV advertising campaign of the company. He created foreign branches in Italy, Spain, Belgium, Portugal and Canada, and the company became the first spices brand in Europe. He became chairman of the company in 1986, until the sale of the Ducros company in 1992 to the Italian group Ferruzzi.[4][5]

He created in 1976 the brand Vahiné, which became within ten years the first brand of ingredients for home-made pastry, and in 1981 the brand La Tisanière, the first French brand for herbal tea.[6]

At Monaco Marine (since 1995)

Passionate sailor and dissatisfied with artisanal maintenance services,[7] Ducros founded the company Monaco Marine in 1995, through the acquisition of a small company "PowerBoat" servicing yachts in the port of Monaco, which offered a marina service for berths, winter storage, and maintenance. Monaco Marine developed a network of shipyards in Saint Laurent du Var, Beaulieu sur Mer, Antibes and Cogolin, all in the south of France. He entered in 2002 into a partnership with the public company of the port of La Ciotat to build the largest dry paint shed in Europe and a maintenance and refit network for mega-yachting industry, inaugurated in September 2007.[8] In 2012, Monaco Marine acquired a long-standing family shipyard in the region based in Antibes.[9] Monaco Marine launched in 2016 a new shipyard in La Seyne, in the Toulon bay, that should open in September 2017.[10]

Michel Ducros developed steadily Monaco Marine over the years : Monaco Marine had sales of 31 million Euros ($40 million) in 2003 and 50 million Euros ($60 million) in 2015, with nearly 200 employees.[11][12]

At Fauchon (since 1998)

Ducros invested in Fauchon in 1998 along with other shareholders. He took first a minority interest (10%) in the company,[13] and, at the request of the shareholders, will buy out most of the other shareholders until 2009, including the minority shareholdings,[14] till holding almost all the capital.[15] He became chairman and CEO of Fauchon in January 2004.

When he took the CEO job in 2004,[14] Fauchon is on the verge of bankruptcy.[16] Michel Ducros immediately attended to redress the operating imbalance,[17] and repay the debts. Loss-making assets are sold[18][19][20][21][22] and Fauchon cut back its workforce.[23]

Michel Ducros set up a new Executive Committee to resolve the company's situation and organized the repositioning and new branding strategy, while developing the international presence.[24][25] Balanced in 2009-2010 and out of debts, the brand increased its revenue, mainly abroad.[26] Fauchon posted in 2013 an operating profit of €900,000 on sales of €50 million,[27] with nearly thousand employees.[28]

Eleven years after the takeover of Fauchon, Michel Ducros still strengthen the group[29] and pursue the international development of the brand, which succeed its installation in the Middle East, where there are, in May 2016, 25 stores and restaurants.[30]

In September 2015, Michel Ducros opt for a new strategy for Fauchon, and set up a joint venture to establish and manage its first five-star hotel in downtown Paris, Place de la Madeleine.[31] It should open in January 2018 and aims to become the reference for the next Fauchon Hotels in the world.[32]

Investment and shareholding

After the sale of the Ducros's family spice business by his father and his uncle, Michel Ducros started his own investments, taking a majority shareholding of a French lighting fixture retailer, Laurie Lumière, that he developed between 1991 and 2008.[33]

He founded his own investment Holding, Eucelia Investments SA, in 1992, which enable Michel Ducros to create Monaco Marine and take stakes in Fauchon.[34]

Michel Ducros develop companies in many fields, as real estate and frozen mushrooms, through the companies Immovalor S.C.A.[35] and Magda SAS.

Public life

Ducros is a resident of Yens, Switzerland.[36] He is married to a French tax lawyer and he has four children. He appointed his son Tanguy at the head of the Monaco Site of his Monaco Marine Company.[37] Ducros also hired his son-in-law, Samy Vischel, to run the Fauchon's expansion in the Middle East, India, Russia and Africa.[38]

In 2010, Ducros is suspected for influence peddling,[39][40] as part of a housing project and a retirement home in the town of La Ciotat.[41][42][43][44] Twenty people have already been indicted and the case is still open.[40]

Sources
  1. Source: le Journal du Dimanche "Fauchon cherche des investisseurs"
  2. Les Échos, 23/12/2007, Décès de Gilbert Ducros, fondateur des épices Ducros
  3. Source: Ducros.fr company website, Le Secret des Epices, La Saga Ducros (The secret of spices, The Ducros saga), Page seen on July 20, 2014
  4. Le Point magazine, Issue #1665, January 17, 2007 "Les nouvelles recettes de Michel Ducros" Archived 2014-10-25 at the Wayback Machine
  5. L'Express magazine, Article of August 9, 2007, page 44–46, "Quand Ducros se jette à l'eau" (When Ducros takes a dive), Page Seen on October 9, 2009
  6. Les Échos, 21/11/2013 : "Michel Ducros, des épices à l'épicerie"
  7. Les Echos, 16/09/1996, L'« épicier » Michel Ducros jette l'ancre à Monaco
  8. Source: L'Express magazine, Article of August 9, 2007, pages 44-46, "Quand Ducros se jette à l'eau" (When Ducros takes a dive), Page seen on October 9, 2009
  9. Source: Monaco Marine website "Monaco Marine Media Document", Page seen on August 3, 2014
  10. Le Seynois, Monaco Marine : ouverture en septembre 2017
  11. Chiffres clés Archived 2016-06-10 at Archive.today
  12. Source: La Tribune, article of June 6, 2012 "Monaco Marine Etend son Empreinte Maritime (Monaco Marine extends its Reach)", Page seen on August 1, 2014
  13. Source: Le Figaro Entreprises magazines, Article of Monday January 19, 2004, "Michel Ducros : Des épices, des yachts et Fauchon" (Michel Ducros: Spices, yachts, and Fauchon)
  14. Source: Le Point magazine, Issue #1933, Article of October 8, 2009, "Fauchon version fashion" Archived 2015-04-02 at the Wayback Machine
  15. Source: Le Point, no. 1933, 8 October 2009, “Michel Ducros est propriétaire de plus de 90 % de son affaire”
  16. Source: Le Figaro newspaper, Issue #18571, of April 21, 2004, "Fauchon vise l'équilibre cette année"
  17. Source : Reuters, "France-Luxe-Fauchon veut doubler de taille en cinq ans"
  18. Source: The New York Times, Article of June 11, 2004, "New York: Manhattan: Fauchon Closing 2 Of 3 Stores", Page seen on October 11, 2009
  19. Source: The New York Times, Article of April 23, 2006, "Demolition Plans Pit Developer Against Chocolatier", Page seen on October 11, 2009
  20. Source: Les Echos newspaper, Issue #19268, Article of October 19, 2004, "Fleury-Michon acquiert les plateaux-repas de Fauchon", Page seen on October 11, 2009
  21. Source: Le Figaro newspaper, Article of May 19, 2005, Page seen on October 8, 2009
  22. Source: The New York Times, Article of May 20, 2005, by Elaine Sciolino "Fauchon's Food Empire Cedes Territory to a Rival"
  23. Source: L'Express magazine, Article of January 17, 2008, page 75, "Fauchon, L'épicier chic et choc", by Corinne Scemama
  24. Source: Le Point magazine, Issue #1933, Article of October 8, 2009, by Domitille Arrivet "Fauchon version fashion" Archived 2015-04-02 at the Wayback Machine
  25. Source : "Comment Fauchon s’est redressé malgré la crise" 20 décembre 2013
  26. Source: Reuter, article of September 18, 2013, "France-Luxe-Fauchon veut doubler de taille en cinq ans" (France – Luxury – Fauchon wants to double its size in the next 5 years), Page seen on January 1, 2014
  27. Source: Reuter, Article of September 18, 2013, "France-Luxe-Fauchon veut doubler de taille en cinq ans" (France – Luxury – Fauchon wants to double its size in the next 5 years), Page seen on January 1, 2014
  28. Source : le Journal du dimanche, 29 juin 2014 "Fauchon cherche des investisseurs"
  29. les Echos, 11/09/2015, L'épicier Fauchon se lance dans l'hôtellerie de luxe
  30. Reuters, 11/09/2015, Fauchon se diversifie dans l'hôtellerie haut de gamme
  31. Bloomberg, 16/01/07, "Fauchon, Esprit de France Launches Five-Star Hotel in Paris"
  32. Les Echos, 11/09/2015, "L'épicier Fauchon se lance dans l'hôtellerie de luxe"
  33. Le Point, 17/01/2007 : "Les nouvelles recettes de Michel Ducros" Archived 2014-10-25 at the Wayback Machine
  34. Source: Le Point magazine, Issue #1665, Article published on January 17, 2007, "Les nouvelles recettes de Michel Ducros" (The new recipes of Michel Ducros)
  35. Source: Memorial, Journal Officiel du Grand-Duché du Luxembourg “Immovalor S.C.A.”, Page seen on July 25, 2014
  36. Source: Mémorial, Journal Officiel du Grand-Duché du Luxembourg, C — N° 1620 of August 21, 2009
  37. Source: Monaco Marine corporate website, "Monaco Marine Contact and Bio Information" Archived 2015-04-02 at the Wayback Machine, Page seen on August 10, 2014
  38. Source: Le Journal Du Dimanche, Article of June 29, 2014 "Fauchon cherche des investisseurs" (Fauchon is looking for investors), Page seen on June 30, 2014
  39. Source: Le Monde newspaper, article of January 30, 2013 "Affaire Guerini: Le Patron de Fauchon Mis en Examen" (Guerini Case, the CEO of Fauchon indicted), Page seen on July 1, 2014
  40. Source: L'express Magazine website, article of January 30, 2013 "Affaire Guerini: Le Patron de Fauchon Mis en Examen dans un Volet du Dossier" (Guerini Case: the CEO of Fauchon indicted in Part of the Case), Page seen on July 2, 2014
  41. Source: Cielj.net on Wednesday, January 30, 2013, "Marseille boss Fauchon indicted in one aspect of the case Guerin"
  42. Source: La Provence newspaper, article of January 29, 2013 "Affaire Guerini: Le Patron de Fauchon Mis en Examen" (Guerini Case, the CEO of Fauchon indicted), Page seen on June 30, 2014
  43. Source: Le Nouvel Obs magazine, article of January 30, 2013 "Affaire Guerini: Le Patron de Fauchon A son Tour Mis en Examen" (Guerini Case, the CEO of Fauchon is Also Indicted), Page seen on July 2, 2014
  44. Source: Le Point Magazine, article of January 30, 2013, "Affaire Guerini: Le Patron de Fauchon Mis en Examen" (Guerini Case: the CEO of Fauchon indicted), Page seen on July 1, 2014

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