French retailer Les Mousquetaires is planning to increase its market share in Portugal by opening new Intermarché stores and reducing prices across its range, reports suggest.
Laurent Boutbien, the president of Os Mosqueteiros, the group's operation in Portugal, has said that the retailer aims to invest €200 million to open 105 stores by 2023, of which €60 million will be invested this year in 15 new stores, according to a report in local daily Expresso.
Last year, the retailer invested €30 million in its operations and opened nine new stores.
Growth Strategy
The second element of its growth strategy will focus on permanent price reduction of over 1,000 essential products.
Part of the investment will be allotted to logistics to keep up the pace with the growth of its store network.
Following the €11 million invested in the expansion of the Alcanema distribution centre, an extra €3.5 million will be invested in the Cantanhede logistics base.
The retailer has also invested in store modernisation, with plans to renovate more than 100 stores by 2021.
The upgraded stores will feature a renewed store façade, a “strong promotional area”, self-service at the butcher’s counter, dedicated space for organic products, and a take-away service.
New Store Format
In addition to traditional hypermarkets, the retailer has also introduced a new urban store format – Intermarché Express.
Three stores are already operational under the banner, including one in Lisbon and two in the Algarve region. Four new openings are scheduled by 2023.
© 2019 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.
