Celebrating its 30th anniversary - the reasons for its success

Inaugurated on 20 November 1992 after complex works, the shopping centre quickly became a success because it met the needs of the population. Now ageing, it will be completely restructured at a cost of €300 million.

The day after the French National Holiday, the Fontvieille shopping centre will blow out its 30th birthday. Built in place of the former Louis-II stadium after a titanic construction project for the time, and then inaugurated on 20 November 1992, the complex, which includes a hypermarket, has revolutionised the daily lives of Monegasques and residents, who until then had been left without a large-scale retail outlet.

There were grocery shops and shops scattered around the Principality but without any commercial coherence," recalls Didier Verrando, president of the Economic Interest Group (EIG) of this area for a decade and founding director of Brico Pro-Master Pro. It was restrictive for the resident population who had to do their shopping in Nice or at Auchan in La Trinité. Expectations were high.

The Montlaur group, well known for its slogan "Find cheaper", signed a contract with the princely government. However, overwhelmed by debts, it filed for bankruptcy before being bought by Carrefour at the commercial court.