French discount chain Leader Price is set to announce its first entry into the Italian market by the end of 2017.
The original plan was to open the first stores in the first quarter of 2017.
The news was revealed by the CEO of Italian distribution group CRAI, Marco Bordoli, in an interview with local daily Italia Oggi.
Earlier this year, CRAI signed a partnership agreement with brand owner Geimex (part of Casino Group), with the intention of developing Leader Price in Italy under the franchising formula.
In the meantime, a joint company has been set up, Leader Price Italia, in which Geimex and CRAI will each hold 20%, while 60% will be distributed between four companies (partners of CRAI), namely Ama, Codè, Fratelli Ibba and NewGrieco.
According to Bordoli, the first Leader Price stores should be opened in North Italy and the business model will be based on convenience stores with added value.
© 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.
