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The global fashion business journal

Sep 29, 20202:12am

OVS boosts Upim: opens in small cities to grow

The CEO of the Italian group, Stefano Beraldo, explained that the company’s strategy is to open stores in cities with 5,000 to 10,000 inhabitants.

Oct 16, 2019 — 8:04pm
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OVS boosts Upim: opens in small cities to grow

 

OVS reinforces Upim. The CEO of the Italian group, Stefano Beraldo, explained that the new strategy of the department store company is based on opening stores in small cities with 5,000 to 10,000 inhabitants.

 

The executive explained that when the group acquired the department stores in 2010, it launched a two-phase restructuring plan with the aim of propping up the company’s growth.

 

 

 

 

The first part of the plan was to close some stores to focus on key locations. Since then, the group’s sales have skyrocketed to twenty-five million euros, compared to seven million euros in 2010.

 

Now, the second phase of the company’s plan focuses on three pillars. First, the opening of flagship stores. In that sense, Upim has just opened a new point of sale of 1,499 square meters in the Milanese street of Via Marghera.

 

The second part of the company’s strategy is to focus on its food area. Upim’s third growth vector is to open stores in cities with 5,000 to 10,000 inhabitants, where 20% of the group’s sales are generated.

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