MILAN, Feb. 2 (Class Editori) -- Granarolo aims towards the east. As outlined in the 2024-2027 strategic plan, the Company aims to strengthen its presence in foreign markets, with a primary focus on China, while the domestic market is projected to account for approximately 58% of the revenue by 2027. Meanwhile, in the preliminary reports for the 2023 closing (the financial statement will be presented in mid-March), the Company reported a turnover of 1.6 billion euros, representing an 8% growth and a "double-digit improvement in operating margin, which is now back to pre-hyperinflation levels".
Filippo Marchi, the CEO of Granarolo, underlines that the Company's strategic plan aims to achieve a turnover of 2 billion euros by 2027, up 17% from 2023 and 50% from 2021, with 58.1% in Italy, 31.6% in Europe, and 10.3% in the rest of the world. The expansion focus is directed eastwards, particularly towards China and the Asia-Pacific region.
"Starting in April, we will have our own trading company in China, Granarolo Shanghai Trading Company, a Chinese-registered company that can develop economic activities locally. Our products will be stored on-site. As for the quantities, we are currently below a thousand tons, and we would like to triple them. We aim to reach a turnover of 50 million euros by 2027, compared to our current turnover of 10 million," Marchi explains.
The expansion strategy of the Bologna-based Company focuses on two main areas: cheese for culinary purposes, such as mozzarella, and mascarpone, for tiramisu production, and a third area focusing on baby liquid milk. "We are the only exporter of baby liquid milk in a market dominated by powdered alternatives," the CEO emphasizes. "Our Soliera facility, located in the province of Modena, is the only one in Italy certified by Chinese authorities for this specific market," he adds.
There is also a particular emphasis on whipped cream. "Within this product segment, we also include whipped cream, aligning with the trends of tiramisu and European products enjoyed by Chinese consumers, especially in chains like Starbucks, of which we are suppliers in China." While the upcoming trading company will primarily focus on the Chinese market, its scope extends beyond that.
Moreover, according to Marchi, "we have a consolidated business of more than 15 million euros in Korea, where the market is focused on hard cheeses and mozzarella. We will continue to work with those helping us penetrate the 7Eleven chain, which boasts over 7,000 corners in Korea. We have entered the chain with our cheese-based snack, Cheese Snack Granarolo, which is currently being distributed." Finally, two more APAC countries are in the spotlight, Vietnam and Thailand. "In these two markets, we have already established business relationships with local distributors. In mid-March, we will be participating in a fair in Ho Chi Minh City," Marchi concludes.
(Source:Class Editori)
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