DESPAR Italia accelerates growth in 2023

April 29, 2024 IN THE CATEGORY: All News

DESPAR Italia announced total revenues by the consortium of EUR 4.4 billion for 2023, a growth of 5.6% over the previous year.

Continued growth in 2023

The growth of DESPAR Italia continued over the course of 2023, with a reported total revenue of EUR 4.4 billion, up 5.6% from the previous year. This expansion was driven through the increase in the store network, with DESPAR Italia celebrating 56 new store openings as well as the modernisation of 34 stores in 2023. This brings the store total across the DESPAR Italia network to 1,424 stores, comprising 408 company owned stores and 1,016 independently owned stores, and a total retail network sales area of 832,298m2.

Company owned stores accounted for 64% of the total revenue, with independent retailers totaling 36% of revenue, which was a 6.7% increase compared to 2022. The importance of independent retailers is also shown in the 57% increase in revenue from independent stores in the past 5 years.

Significance of own brand

The continued expansion of the DESPAR Italia own brand range was a strategic driver for the growth, reaching revenues of EUR 1 billion for the first time (a 12.8% increase compared to 2022) and a market share of 22.4%. In total, 222 new products were launched last year while 308 products were restyled. The DESPAR Italia own brand range continues to evolve to meet customer needs, focusing on quality and convenience. The development of the range is also due to the partnership with more than 400 local suppliers, 97% of which are Italian. Today, the DESPAR Italia own brand range includes 16 specific lines of over 4,700 products.

Looking ahead

Building on the growth of 2023, DESPAR Italia will continue to expand. Approximately EUR 100 million is to be invested in 35 new stores and 33 store renovations due to take place. DESPAR Italia intends to launch 200 new own brand products to complement the existing assortment, looking at new market trends and segments with interesting growth spaces such as premium and specialised assortments.

Source: DESPAR Italia

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About SPAR Italy

SPAR Italy, known locally as DESPAR Italia, was first granted the SPAR Brand’s license in 1959. The first store opened in 1960. With it, SPAR became the first partnership of retailers and wholesalers to operate in the country. In addition, SPAR Italy licenses regional partners, all of whom work together to grow the brand across the country.