Italian discounter MD, owned by the Podini family, is planning to invest €488 million over the next three years to open 90 new MD supermarkets.
At a press conference in Milan, the retailer confirmed 30 new store openings for 2017.
MD is the second largest player in the discount segment, with a 15% market share and ranked third in terms of turnover, behind Eurospin and Lidl.
The retailer has 711 stores, of which 500 are directly-owned and 211 are franchised (mainly in central and southern Italy), selling over 2,000 private label products.
In 2016 it had a turnover of €2.1 billion, an increase of 2% on the previous year and up 343% when compared to 2008. It expanded its presence in Northern Italy last November, with the opening of new stores in Cernusco sul Naviglio (Milan) and Thiene (Vicenza).
On the same occasion, MD announced that famous cooking TV show presenter Antonella Clerici will be a new spokesperson for the discount chain.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up for ESM: The European Supermarket Magazine
