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Retail

Italy’s Gruppo VéGé Forecasts 10% Turnover Growth In 2020

Italian retailer Gruppo VéGé is on track to close 2020 with a 10.1% increase in turnover, to €11.2 billion, and like-for-like growth of 6.9%.

This figure is well above the average growth rate for the sector, which currently stands at +4.2% for the year.

With 35 associated companies and 3,585 stores, encompassing some 2.4 million square metres of total commercial surface area, Gruppo VéGé ranks second in Italy in terms of the size of its store estate.

It is also the fifth largest player in the retail channel with a market share of 7.20%, according to Nielsen data (September 2020).

At a regional level, Gruppo VéGé member companies hold a leadership position in terms of market share in the Campania (30.7%), Basilicata (23.7%) and Sicily (21.61%) regions, and place second in Sardinia (13.6%) and Veneto (12.6%).

Increased Flexibility

According to the president of Gruppo VéGé, Nicola Mastromartino, the COVID-19 crisis has led to increased flexibility in the business, as well as a review of projects and associated timeframes.

According to Mastromartino, the group is rapidly realigning the investments already planned and underway for 2021. These include the further extension of the assortments for private label lines VéGé and Ohi Vita, and increased support for members to implement digital platforms for e-commerce and proximity marketing.

A new format for its VéGé store estate, put on hold due to the health emergency, is also in line to be rolled out next year, which will offer an 'evolution of the supermarket format' from a design and structural point of view, according to the group.

© 2020 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

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