Italy’s Codè Crai Ovest cooperative achieved a turnover of €346 million in 2023, exceeding its initial forecast of €340 million.
The fourth quarter of 2023 was a turning point for the cooperative, with the acquisition of 49 Arcev stores in Valtellina, which will be integrated into the Codè Crai Ovest network starting 1 January 2024, according to media reports.
The group also expanded its network by opening 11 new stores and renovating seven existing stores.
As part of the 'Giù l'inflazione' (Down with Inflation) campaign, Codè Crai Ovest offers price reductions of up to 20% on over 500 items. The campaign is a key initiative that has been taken by the cooperative to improve customer satisfaction.
Other strengths of the group include its focus on local products and private-label brands, its strong local roots, and its expanding range of services.
Management Additions
The cooperative has also made a number of recent additions to its management team, including Gianluca Defendini, who was appointed general manager in May 2023, and Antonio Muggianu, who was appointed commercial director last year.
Private-label brands are now a strategic tool for the cooperative, accounting for over 21% of its turnover, it said.
In 2024, Codè Crai Ovest plans to launch three new private-label brands: Crai Sport, a protein-enriched line, and a range of products enriched with vitamin D. The 'In Armonia' brand will also be rebranded.
In February of this year, the Italian cooperative and supermarket operator introduced the ‘Last minute sotto casa’ app in a bid to limit food waste in its shops.
Turin-based Codè Crai Ovest operates a network of over 300 Crai-branded stores across the Piedmont, Lombardy, Liguria, and Valle d'Aosta regions.
