Italy’s Gruppo VéGé ended 2017 with a turnover of €6.21 billion – its fourth successive year of sales growth.
The cooperative, which incorporates 29 different companies, saw its business grow by 3.4% in like-for-like terms and by 6.9% in general terms.
Its sales growth was also reflected in its market share improvement, with the business reaching a 4.2% share of the market at the end of 2017, according to Nielsen.
The results achieved in 2017 are the result of a development plan implemented by the group, which has increased its sales network by 28% since 2016, to currently boast 3,034 stores. It also boasts a comprehensive private-label operation.
Based on its positive start to the year, Gruppo VéGé estimates that it will be able to close this financial year with a turnover of €6.5 billion.
Stable Performance
Commenting on its results, the president of Gruppo VéGé, Nicola Mastromartino, expressed satisfaction with the 2017 performance, confirming that the group has the highest growth rate among modern Italian distribution companies.
Gruppo VéGé recently invested more than €1 million in a new multimedia communications campaign, the aim of which is to distinguish the retailer from other players in the national retail sector.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: European Supermarket Magazine.
