Italy’s Sogegross To Invest €100 Million By 2020
Italian retailer Sogegross is investing €100 million in its network over the next three years, with €30 million earmarked for the remodelling of existing stores.
Another €30 million will be used to build a storage unit for fresh products in Genoa, while the rest will be allocated for new openings and acquisitions, reports daily La Repubblica.
The company's goal is to exceed €1 billion in turnover by 2020, with growth expected in all distribution channels, including Basko supermarkets (€390 million), Sogegross Cash & Carry (€260 million), Ekom discount (€310 million), and Doro supermarkets and franchise stores (€95 million).
Over the past three years, Sogegross has upgraded its supermarkets, expanding retail space in 40% of its stores, according to CEO Maurizio Gattiglia.
Genoa-based Sogegross is one of the top ten Italian grocery retailers, with approximately 230 stores, 2,600 employees, a turnover of more than €800 million in 2016, and an estimate of €880 million for 2017.
The company is mainly active in the Liguria region, but has expanded its activities in Northwest Italy in recent years.
Sogegross is the second largest supplier to the HoReCa segment after Metro, and the leader in the discount channel with Ekom.
However, the company’s flagship banner is Basko, which achieved a turnover of €290 million in 2016 and LFL sales of over 2%.
The retailer has three private label brands – Prima (with 1,100 products), Percorsi di Gusto (130 products) and Via Verde Bio (130 products), which account for 15% of grocery sales.
© 2017 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