Valencian supermarket operator Family Cash is venturing outside Spain for the first time, announcing a partnership with Pyrénees Group to open its first store in Andorra this August.
The new store will occupy the site of a former Carrefour hypermarket, which is closing its doors on 2 June.
Growth Strategy
The decision to move into the mountainous country aligns with Family Cash's growth strategy of taking over disused spaces from other retailers. Its new Andorran store will be located in the Epizen shopping centre in Sant Julià de Lòria del Principat, and will be one of the group's biggest, covering some 6,145 square meters, spread across two floors.
The lower floor (4,235 square metres) will offer a variety of products, including food, beverages, pharmacy items, beauty products, pet supplies, household goods, and a bakery. The upper floor (1,750 square metres) will focus on home appliances, textiles, tobacco, and coffee.
Family Cash ended its financial year 2023 with a 19% increase in revenue, to €610 million. Currently, the retailer operates 41 stores across Spain, with a net addition of two stores last year.
It has a strong presence in the Valencian Community and Andalusia. Its growth accelerated in 2017-2018 by taking over former Eroski locations.
New Openings
This year promises further expansion – in addition to Andorra, Family Cash is planning openings in Petrer (Alicante) and Toledo, bringing ots total to 44 stores by year-end.
Family Cash isn't limited to shopping centres either – it's developing its own retail parks under the Family Parc brand, each of which will feature a Family Cash store alongside businesses from various sectors. It currently operates two Family Parcs and plans to build a third in Tarragona in 2025.
