Billionaire Profile

Global Rank

#2073

Image: Public domain | via Wikimedia Commons

Philippe Ginestet & family

CEO, GiFi

Real-Time Net Worth

$1.9B

As of December 2025

Age

Source

Retail stores

Industry

fashion-retail

Citizenship

Biography

Philippe Ginestet, born in 1954, is a French billionaire businessman renowned for founding the GiFi discount chain in 1981. Known for his self-made journey, Ginestet built a significant retail empire. His source of wealth is retail stores, specifically GiFi, which offers a wide array of household goods at low prices. Ginestet's career began with humble beginnings before evolving into a major player in the French retail market. He is known for his hands-on management style and his company's expansion to over 700 stores across France and Belgium. As of 2024, he is estimated to have a net worth of $1.9 Billion, ranking him among the wealthiest individuals in France.

Wealth Over Time

Portfolio Holdings

Besson Chaussures

In-Depth Profile

Early Life

Philippe Ginestet was born on April 15, 1954, in Sainte-Livrade-sur-Lot, France. He left school at the age of 16 to work alongside his parents, who were livestock traders. This early experience instilled in him a strong business acumen.

Rise to Success

Ginestet's entrepreneurial journey began in 1981 when he founded GiFi, a discount retail chain. The first store, named “GiFi le vrai soldeur,” opened in Villeneuve-sur-Lot. It focused on offering a wide range of non-food products at low prices, capitalizing on surplus stock and end-of-line items. GiFi quickly gained popularity, expanding to over 700 stores in France and Belgium.

Key Business Strategies

Ginestet's business model revolved around providing affordable products. He sourced goods directly from manufacturers and surplus stocks. His innovative approach included opening stores on Sundays, which set GiFi apart from competitors. Ginestet also focused on creating a unique management style, often described as paternalistic, while also involving his employees in the company's success.

Philanthropy

While specific philanthropy amounts are difficult to find, it is known that Philippe Ginestet has shown generosity toward his employees.

Career Milestones

1981

Founded GiFi

Established the first GiFi store in Villeneuve-sur-Lot, France, a discount retail chain.

2017

Acquired Tati

Expanded the retail portfolio by acquiring the famous French discount chain, Tati.

Philanthropy & Social Impact

Employee Welfare

Employee Benefits

Undisclosed

Ginestet is known to show generosity towards his employees, offering them seminars and other benefits.

Business Philosophy & Leadership

Notable Quotes

"“Il faut croire en ses projets et ne jamais rien lâcher” - Philippe Ginestet"

Leadership Principles

Empathy and Customer Focus

Emphasis on creating a welcoming environment for customers.

Employee Involvement

Involving and valuing employees to foster a sense of community and purpose.

Controversies & Challenges

2024

Financial Difficulties at GiFi

The GiFi chain has faced financial difficulties, leading to debt restructuring and a change in operational leadership.