Penny Market Launches Vicino Private Label Brand In Italy
Italian discounter Penny Market has introduced a new private label range, ‘Vicino – Prodotti del tuo territorio’, offering twenty-five fruit and vegetable varieties.
The focus of the range is environmental sustainability and promoting local products to meet the needs of customers.
Supporting Local Producers
Through the new brand, Penny Market wants to support small local producers with a vision to introduce innovation in production ethics and focus on sustainability while safeguarding environmental integrity.
The products offered will alternate according to the seasons and will vary across the different regions of Italy where Penny Market is present.
According to the retailer, the product range, which includes trocadero salad and datterino tomato, will expand in the next few months.
Penny Market Set To Expand In Italy
The company's 2018-2019 investment plan anticipates €167 million in investments, of which over €800 million will be allcoated for new stores. Another €28 million will be earmarked for store remodelling, while €21 million will be channeled into pre-existing stores.
Over 20 new stores will open in 2018, concentrated in Tuscany, Lombardy, Piedmont and South Italy.
Penny Market has seen strong growth in Italy, with a turnover per square meter that is above the average for the category.
Owned by German retail group REWE, Penny Market operates 366 stores in Italy distributed across all regions except Sardinia.
© 2018 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