Selex Group, the long-established Italian retail chain, and the third largest in the country, is planning to open 69 new stores in Italy in 2016. In addition, 55 existing stores will be renovated as part of a total investment of 152 million euros. The expansion plan will cover a total of 89,000 m2 of store space.
These new openings are up to the growth of revenues of the Italian grocery retailer, which has an 11.3% market share and has increased to 1.9% compared to the average for hypermarkets and supermarkets in Italy for the period of January to October of this year. The turnover also increased to 11% in 2015, reaching 9.85 billion euros, partly as a result of the entry of a new partner, Il Gigante, in January of this year. Moreover, revenue is expected to increase by an additional 4% in 2016. According to the firm’s figures, 10.2 billion euros is expected to be recorded next year.
The Selex Group is present in every region in Italy; in more than 90 provinces and in over 1,700 municipalities, with sales outlets of various types: hypermarkets, supermarkets, discount stores, minimarkets, and Cash & Carry.