Italian retail group Finiper Canova is celebrating its 50th anniversary with its 'best financial performance' to date. In 2023, the group's revenue surpassed €3 billion, with EBITDA exceeding €200 million.
The company was among the pioneers of the hypermarket concept in Italy with its Iper La grande i banner. The large stores feature open-plan kitchens and in-store production, resembling a marketplace.
Iper's in-store production continues to be a customer favourite, with fresh products made on the spot.
The hypermarkets has since evolved and now offer a full restaurant experience, with six restaurants providing table service and new formats like Caffè Portello, Rom'Antica, Cremamore, and Ristò.
Acquisitions, Brand Development
Beyond hypermarkets, Finiper Canova has grown strategically through acquisitions and brand development to cater to evolving consumer habits.
A key step was the acquisition of the Unes supermarket chain, which allowed the company to expand into neighbourhood convenience store segment. Recently, Unes has faced challenges but Finiper Canova has pledged to revitalise the brand with a significant restructuring project.
The group's commitment to quality extends to its own brands, exemplified by the phenomenal success of its Il Viaggiator Goloso brand.
The label has become synonymous with Italian food and wine excellence and Finiper Canova plans to further invest in strengthening this brand in the years to come.
Other Business Initiatives
The company has also ventured into shopping centres, building Piazza Portello in Milan and Il Centro di Arese, one of the largest malls in Europe.
According to CEO Christophe Mosca, the group plans to develop existing businesses and explore new formats to adapt to the changing market.
As part of this strategy, Finiper Canova decided to leave Federdistribuzione, a business association in the large-scale retail sector. The group believes this will give the company more autonomy in achieving its goals.
