Eataly opens its second store in Rome and reaches 50 points of sale worldwide

2 min read


Second store in Rome for Eataly, which reaches the milestone of fifty points of sale in the world. The new Roman branch (the other is in Rome Ostiense and is the largest globally, plus there are two franchises in Fiumicino) occupies 700 square meters inside the Termini train station.

«The signal is quite clear», explains Andrea Cipolloni, CEO of the group since November 2022. «Although we declare that our development strategy is mainly concentrated in North America, the USA in particular, Italy is our home and Rome is a city where two other sales points can easily be found: we want to seize this opportunity».

The company is in turmoil. «In a few days – continues the CEO – we will inaugurate the third store in New York and we have just signed another seven contracts for North America: from Miami to Philadelphia». The US market has a turnover of 470 million euros. In Italy the next opening is scheduled for the Dorno service station and Europe is also preparing for at least a couple of ribbon cuttings. «Dresden, in the second quarter of 2024 and Brussels, in 2025», adds Cipolloni.

Internationalisation, moreover, is one of the objectives announced on the occasion of the acquisition of 52% of Eataly by Investindustrial, just over a year ago, which reserved a 200 million capital increase for the group, to eliminate its net financial debt. «The industrial plan envisages 250 million in investments over the next four years – continues Cipolloni – and we see huge opportunities in the next five years: a passionate, extraordinary fund of the right size has arrived to support growth like this».

Eataly expects to close the year with a profit, regardless of any write-downs. The hypothesis is to archive 2023 with an ebitda of 41 million euros compared to 25 million last year: 2023 will close with a turnover of 675 million euros.



Source link

You May Also Like

More From Author

+ There are no comments

Add yours