Italian supermarket chain Pam Panorama is planning to expand its operations outside of Italy by 2020, reports the news agency ansa.it.
On the 60th anniversary of the company, its CEO, Gianpietro Corbari, announced the plans in Milan.
Corbari added that the supermarket chain plans to grow its business outside of Europe.
The Expansion Plan
Initially, the project will focus on developing an online channel with a partner under the Pam brand, which will be followed by the opening of physical stores, subject to the group posting double-digit growth in turnover.
The supermarket chain will invest €120 million in the next two years towards the expansion.
Half of the money will be used for new store openings, and the other half will be spent on upgrading infrastructure and e-commerce, which currently accounts for 1% of turnover.
Drivers Of Growth
In Italy, the company expects growth chiefly coming from Pam Local stores - its smallest and neighbourhood-orientated store format.
The company expects that the number of stores in this format will double over the next two years.
In 2013, food represented 90% of Pam Panorama’s turnover, increasing to 94% in 2017, and in 2018 it is estimated to grow further to 96%, according to Corbari.
Based in the Veneto-region, Pam Panorama has over 1,000 points of sale (Pam, Panorama and Pam Local banners), mainly in North and Central Italy.
The retailer also has an agreement in place with Supermercato24 and Amazon Prime for home delivery of online food purchases.
© 2018 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.
