Spanish supermarket group Caprabo has set itself the target of reaching revenue of €900 million by 2026, as well as an EBITDA of €34 million.
The retailer made the announcement at a press conference in Barcelona to mark its 65th anniversary, as well as to announce its strategic plan for the years 2024 to 2026.
Investment Of €60 Million
According to media reports, Caprabo plans to invest €60 million in its operations between now and 2026, to both open new establishments and refurbish existing ones, as it seeks to also grow its market share to 5%, up from its current 4.7%.
Caprabo reported revenue of €780 million in its most recent financial year.
In total, there are eleven different elements to Caprabo's strategic plan – pricing, private label, assortment, fresh products, customer focus, expansion, healthy foods, and technology.
Currently, private-label sales constitute 28.5% of Caprabo's total sales and account for 15% of its assortment. The target is to increase private-label sales to 30%.
New Store Openings
The retailer plans to open eight company-owned supermarkets and 30 franchised stores during the period, creating over 200 new jobs. Currently, Caprabo operates 300 supermarkets and employs 6,000 people.
The new stores will be largely focused around tourist and coastal areas, as well as Barcelona's suburban areas, while the retailer has ruled out expanding beyond its traditional stronghold of Catalonia and Andorra. One new store will open this year, with the remainder set to open next year.
Additionally, Caprabo undergo a technological restructuring, including enhancing the customer shopping experience and utilising artificial intelligence to optimise promotional efficiency.
Caprabo opened its first store on Carrer de Sant Antoni Maria Claret in Barcelona in 1959.
