Italian retailer Gruppo VéGé has reported record sales of €13.8 billion in 2023, up by 9.4% year-on-year, marking its tenth year of continuous growth.
The group’s performance was better than the sector average (+5.1%), solidifying Gruppo VéGé's position as the fifth largest modern distribution group in Italy, holding a 7.5% market share.
An Anniversary Year
Gruppo VéGé’s members have set ambitious targets, anticipating €14.5 billion in turnover in 2024, the year in which the group celebrates its 65th anniversary. In addition, the group is aiming for a turnover of €20 billion by 2030.
The shareholders of the Italian multi-brand cooperative have also approved an ambitious investment plan that outlines €380 million for expansion in 2024, with plans to open five hypermarkets, 38 supermarkets, three cash & carry stores, and 33 specialised and self-service outlets.
According to the group, the focus will be on modernising stores and strengthening sales networks, including omnichannel initiatives like home delivery and click and collect.
Gruppo VéGé's members currently reach residents in 1,234 postal code areas with home deliveries and 290 click & collect collection points, while national partnerships are in place with delivery services Glovo, Everli, and Alfonsino.
In November, Gruppo VéGé announced its commitment to prioritising the expansion of its private-label offerings and investing in digitalisation over the coming year.
Gruppo VéGé is actively employing promotional strategies to sustain sales amidst the current inflationary period. Concurrently, the company is broadening its private-label product portfolio, encompassing 'first-price,' mainstream, and premium options.
The cooperative is directing efforts towards enhancing its management control sector and implementing automation and digitisation across various company processes.