Italian discounter MD plans to open 180 new stores by 2021 and create 2,200 new jobs, according to its CEO.
Speaking at the retailer’s national convention in Sorrento, CEO Patrizio Podini announced that MD will open, on average, 45 new stores with a size of 1,500 to 2,000 square metres per year between 2018 and 2021. In addition, hundreds of branches will be restructured, for an overall investment of over €1 billion.
Between 2014 and 2017, after the acquisition of LD Market, 38 new format stores were opened and 130 branches were renovated, resulting in a 130% increase in turnover.
Future Investments
The retail group will also build the largest distribution and logistics hub in Italy in the discount channel, which will be based in the former steelworks in Cortenuova near Bergamo. The facility will cover an area of about 270,000 square metres, at an investment estimated at €80 million. Construction is expected to start at the end of this year.
MD is also boosting investments in digital, with plans to restyle the corporate website, expand its social network presence with the addition of Instagram and LinkedIn platforms, and the launch of a new app in 2018.
To achieve these goals, the retailer is also strengthening its management team. Two new managers were officially presented in Sorrento - general manager Piermario Mocchi and commercial director Vittorio Amatucci.
MD is the second largest player in the discount sector with 725 stores throughout Italy, served by eight logistics and distribution centres. The company has a 15% market share, employs over 6,500 people and closed 2017 with a turnover of €2.3 billion (+9.5% year-on-year).
© 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
