This is not your typical family business case and that is what makes it such a rich teaching tool and learning experience.

The Mulliez family owns one of the largest retail empires in the world. From its origins in northern France, its members have launched more than 20 different retail enterprises including Auchan (supermarkets), Boulanger (electronic devices), Decathlon (sports stores), Phildar (hosiery and yarn) and many other well-known brands.

Growing family businesses need to create new governance structures to ensure the alignment of family expectations with the needs of the business, as well as accountability. As the family and business mature, and ownership/management functions are separated, the role of the family is increasingly one of governance.

Families across Asia have gradually become more professional in managing not only their businesses but their personal wealth and philanthropic interests, as evidenced by the growing number of family offices and family foundations.