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Italy's Gruppo Selex Targeting More Than €20bn Turnover In 2024

By Steve Wynne-Jones
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Italy's Gruppo Selex Targeting More Than €20bn Turnover In 2024

Italian retailer Gruppo Selex has said that it is targeting a turnover of €20.4 billion in its 2024 financial year, representing a 4.5% increase, following what it described as a 'positive and dynamic' 2023.

In its 2023 financial year, the group reported a 9.3% increase in sales, with turnover of €19.9 billion.

The group said that its performance was driven by its ability to 'contain price increases without lowering the quality of its offer', in a high inflationary environment.

Gruppo Selex, which operates a myriad of banners across Italy, including the Famila brand, saw its market share rise above 15% this year – hitting a high of 15.1% in June, while its private label ranges reported a 17.3% increase in sales.

'On The Front Line'

“We can be satisfied with these results, above all because they were obtained in a complicated year which saw us on the front line in defence of consumers' purchasing power," commented Alessandro Revello, president of Selex Gruppo Commerciale.

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"Cohesion, investments and innovation are key words to enable us to continue to look to the coming years with confidence. Attention to the people and territories in which we operate are distinctive elements on which our businesses are based, and which we will continue to develop in 2024."

A Milestone Year

The coming year marks the 60th anniversary of the founding of Gruppo Selex, and it plans to invest around €540 million in its network over the course of the year, with the opening of 65 new stores and the renovation of 94 others.

In addition, the business plans to ramp up its digital and e-commerce capabilities, as well as strengthening and developing strategic partnerships with both ESD Italia and EMD AG.

"The initiatives in the new year will still be primarily aimed at maintaining a strong competitiveness for our brands with pricing policies and targeted promotions, without impacting the quality of our offer," added Maniele Tasca, general manager of Selex Gruppo Commerciale.

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