Végé Group expands retail network
The VéGé Group is to open 63 hypermarkets in northern Italy next year, taking its market share to 7% and total number of outlets to 1,250, with 50 shopping centres. Sales in 2018 reached €1.6 billion, up 3% from 2017.
Founded 60 years ago, VéGé has 32 companies, 3,416 sales points and a turnover of €7.5 billion. The group’s stated objective is to reach a turnover of €10 billion euros in 2020. Over the last four years, the group has recorded the highest growth performance on the Italian market (Nielsen data for September 2019). The group is the leader in Sicily, Campania and Basilicata, second in Veneto and Sardinia, fifth in Piedmont, and eighth in Lombardy.
Speaking to italyfruit.net, Giorgio Santambrogio, CEO of VéGé said,
“This is a great day for Italian retail and for our group”. Similar recent expansions are profoundly changing the scenario downstream of the supply chain. This news comes in the wake of the recent Conad-Auchan merger.