German drugstore chain DM-Drogerie Markt has opened its first store in Italy following its exit from the market ten years ago.
The new store is located in the city of Milan, but the retailer has plans to open two stores in Udine and one in Laives later this month.
The company's expansion will initially be focused in Northern Italy, with a headquarters located somewhere between Verona and Padua.
"Italy is an extremely promising market for DM," said company CEO Hubert Krabichler.
"The recent reforms of the Italian government have established a new framework, which has made possible new investments and the creation of new jobs."
He added that increased consumer confidence, a fall in unemployment, and the positive growth trend for these types of stores have contributed to this decision to re-enter the Italian market.
DM's new stores will feature over 14,000 cosmetic, beauty and wellness products, as well as dietary foods, organic produce, and child-care and home-care products.
"In Italy, our offer will combine the best international brands and Italian brands together with our DM brands," added Krabichler.
DM currently operates more than 3,330 stores in twelve countries. The retailer posted sales of €10.3 billion in its 2017 fiscal year, representing growth of 5.7%.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.