Leading French retail chain Fnac has unveiled plans to expand its European and international businesses.

Leading French retail chain Fnac has unveiled plans to expand its European and international businesses.

During the annual shareholders' meeting last week for parent company Pinault-Printemps-Redoute, CEO François-Henri Pinault said five stores would be opened shortly in Spain and Brazil. A new outlet was inaugurated late April in Portugal.

"International stores now account for almost a quarter of Fnac's results," said Pinault.

Moreover, the firm will soon press the button on online music stores serving Portugal and Spain, and a mobile phone service is to go live in France.

During the meeting, Pinault confirmed a new strategy for the retailer's French business where the chain is looking to establish a presence in suburban shopping malls. Two stores of this kind will open this fall -- one near Bayonne, and the other near Bordeaux.

Paris-based Fnac operates 112 stores worldwide, including 68 in France.