Italian marketplace Eataly is expanding its presence in the Middle East with a €100 million investment, aimed at opening 40 new stores, including airport locations, and enhancing product distribution.
This move follows Investindustrial's acquisition of minority shares in Eataly's US and German operations in 2023, as well as the Parisian store last December.
Investindustrial, which controls Eataly with 52% ownership, is partnering with Azadea Group, a major retailer in the Middle East and Africa that operates over 40 international franchises in the region.
While Azadea will remain a shareholder and continue managing existing Eataly operations under a franchise deal, the new agreement gives Investindustrial direct control over Eataly's expansion in the region. This strategy reflects a shift towards direct management of Eataly's international operations.
This strategic initiative, which follows the inauguration of Investindustrial’s new office in Abu Dhabi, aims to strengthen Eataly’s presence in the Middle East, with a particular focus on the Gulf countries.
Eataly
Eataly currently operates 52 stores globally, with 12 in the US (accounting for 61% of revenues), 25 in Europe, and 15 in the Middle East and Asia. The stores specialise in catering and retail distribution of quality Italian food.
Eataly is growing its footprint, including further expansion in North America. In addition to its existing 13 stores, the Italian food chain will soon open four new locations in Philadelphia, Miami (two stores), and Toronto.
The US will also be the first to see a new Eataly concept: Eataly Caffè. This new format will debut in four US airports and three French airports.
In the first half of 2024, Eataly reported €320 million in revenue (up 6%), an adjusted EBITDA of approximately €13 million (up 65%), and a net debt of €95 million. Last summer, the company obtained a long-term bank loan of €250 million.
Agenzia ICE Partnership
Eataly has also announced a partnership with the Italian Trade Agency (Agenzia ICE) to promote Italian food and beverages globally.
This joint campaign, running until December 2025, will highlight Italian agri-food products, boosting their visibility in seven key markets: the US, Canada, UK, Sweden, Germany, France, and the UAE.
Eataly will also add over 100 new Italian suppliers, many of them newcomers to these markets, working alongside Agenzia ICE.
Eighteen Eataly stores across the target countries will host events showcasing Italian culture aimed at consumers. These events will coincide with major international food fairs and other key promotional opportunities.
Consumers will have opportunities to learn about Italian food and drink through seminars, tastings, and trying authentic Italian dishes in Eataly restaurants. They can also buy the products in Eataly stores to recreate classic Italian recipes at home.
