Portugal: Les Mousquetaires to invest €100 million to expand store network

Les Mousquetaires, the French retail company that operates the Intermarche, Bricomarche and Netto banners, has announced an investment of €100 million ($109 million) to establish 80 new stores in Portugal within the next five years.

The focus of the strategy will reportedly be smaller and medium-sized Intermarche stores ranging in size from 1,000 to 2,500 sq mt. The company plans to launch roughly 15 new stores each year, investing between €17 million ($18.53 million) and €20 million ($21.8 million) annually, with the aim of boosting turnover by around 40% over the next five years.

According to Jornal Economico, the group has recently introduced a new store format for its Intermarche brand in Faro, and subsequently plans to roll out the concept to other new stores.

The planned expansion will grow the Les Mousquetaires network in Portugal to 362 stores, with 267 being under the Intermarche brand.

Source: ESM / Jornal Economico