Italian cooperative and supermarket chain Codè Crai Ovest has announced plans to invest €30 million in opening 30 new stores by early 2022.
The retailer ended 2020 with a 25% increase in turnover, to over €340 million, and is forecasting an additional 15% growth this year, according to the Ansa news agency.
Codè Crai Ovest is in the process of completing an equipment renewal process and optimising its facilities with a view to saving energy.
This process began five years ago with investments that have involved the company’s headquarters in Leinì, as well as the brand's stores in the north west of Italy.
Turin-based Codè Crai Ovest has 220 members in the Piedmont, Liguria, Valle d’Aosta and Lombardy regions, operating over 400 outlets in north-western Italy.
It also manages the Cedis banner in Malta.
Ama Crai Est Cooperative
Elsewhere, the Ama Crai Est cooperative and large-scale retail distributor reported a 31% increase in turnover in 2020, to €329 million, reports Gdonews.
The positive performance was mainly driven by the general growth trend across the large-scale distribution sector, and particularly in the supermarket channel.
The president of Ama Crai Est, Fabio Frassetto, expects the company's positive performance to continue this year.
Based in Montebelluna, in the province of Treviso, Ama Crai Est has over 271 members and a network consisting of more than 569 retail outlets across various formats.
The company is present in five regions in North-East and Central Italy: Veneto, Friuli Venezia Giulia, Emilia Romagna, Tuscany and Marche.
© 2021 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine