Italian food retailer VéGé Group has managed to double its market share over the past 12 months, rising from 1.6 per cent in February 2015 to 3.4 per cent in February 2016, according to Nielsen data.
At the same time, overall supermarket and hypermarket sales in Italy grew by only 0.5 per cent in 2015.
Significantly, the retail group's private label brand saw a 20 per cent growth in turnover, with the expansion of the offer to include health and wellness, organic and premium product lines.
VéGé Group reported 14.3 per cent growth in 2015 turnover, to €3.31 billion, its second year of double digit growth. For 2016, the retailer is targeting a turnover of €5.5 billion, thanks mostly to the expansion of the group since the start of the year.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. To subscribe to ESM: The European Supermarket Magazine, click here.
