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Penny Market To Invest €167m As Part Of Italy Expansion

Published on May 28 2018 10:50 AM in Retail tagged: Trending Posts / Italy / Rewe Group / Penny Market / Paywall

Penny Market To Invest €167m As Part Of Italy Expansion

Discounter Penny Market is planning to invest €167 million in the period 2018-2019 as part of its expansion plans in Italy.

The sum represents a significant increase compared to previous years, with the Rewe Group-owned retailer having invested €56 million in 2017 and €58 million in 2016.

According to the retailer, the two-year strategy will see €80.2 million earmarked for the opening of new stores, while €27.9 million will be spent on remodelling existing stores to make the shopping experience more in line with current trends.

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