Coop Italia is planning to launch 5,000 new private-label SKUs over the next two years, which will increase its product offering by 50%.
The aim of the initiative, according to the cooperative, is ‘to ensure quality and safeguard purchasing power in an increasingly difficult economic situation’.
At the same time, Coop Italia has set itself the goal of doubling private-label sales in four years, from €3 billion to €6 billion.
Private-label sales accounted for around 30% of Coop Italia’s latest annual turnover of €14.4 billion.
Launched over 70 years ago, Coop Italia's private-label offer currently consists of 15 dedicated lines.
They include organic brand Vivi Verde, with almost 1,000 references, which saw 6% growth during the pandemic, and Fior Fiore, whose 750 products represent the best of Italy’s gastronomic culture.
The 5,000 new products will arrive in Coop stores in May and June – initially only breakfast products – to be followed in the summer by alcoholic and non-alcoholic beverages, pasta, pasta-based dishes, and condiments.
The products will focus on new market segments and add to existing ranges to meet the increasingly specific needs of consumers.
All new-product launches will continue to respect Coop’s private-label cornerstones: goodness, convenience, safety, ethics, ecology and transparency.
As a result of the expansion of the private-label offer, Coop’s network of supplier companies has also increased. Its 500 existing suppliers will be joined by another 250, of which 80% are Italian SMEs.
According to the marketing director and head of Coop brand products, Paolo Bonsignore, the retailer collected tens of thousands of recommendations and product ideas from both employees and members before launching the new products.
In terms of the number of SKUs and the speed of implementation, this is the largest-ever private-label repositioning and relaunch in Italy, Bonsignore added.
Coop’s strategy for the private-label segment foresees that, by the end of 2023, it will account for 50% of own-label sales in Italy.