LabelVie has opened two new Carrefour Market supermarkets in Tamesna and Tangier, creating 96 jobs as the Moroccan retailer continues to grow across the country. The company said it gave more than 1,150 hours of training to new employees through its in-house training centre, Label École, before the stores opened.
The new supermarkets are part of LabelVie’s “Vision 2028” plan to expand its network of Carrefour, Supeco and Atacadão stores.
The group has opened 141 stores in more than 37 cities so far. It added 31 new stores in the first three months of the year and expects the expansion to increase its retail space by 15%. It also expects revenue to grow by about 15%.
LabelVie reported first quarter revenue of MAD 4.818 billion ($482 million), up 15.9% from the same period last year.
Its retail business brought in MAD 4.709 billion, a rise of 16.4%.
Atacadão recorded the strongest growth, with revenue rising 19.7% to MAD 1.743 billion. Carrefour hypermarkets saw sales increase by 15.1% to MAD 999 million, while Carrefour Market supermarkets generated MAD 1.446 billion, up 11.3%.
Of the 31 stores opened in the first quarter, 24 were Supeco stores, five were Carrefour Express stores, one was an Atacadão store in Khénifra and one was a Carrefour Market supermarket.
The company is also moving ahead with a merger with Retail Holding.
If approved, Retail Holding will absorb LabelVie, creating a single retail group listed on the Casablanca Stock Exchange. Shareholders would receive eight Retail Holding shares for every 11 LabelVie shares.
The deal is expected to be completed in early August, subject to regulatory approval.
The merged group will bring together Carrefour and Atacadão with Retail Holding’s other brands, including Burger King, Kiabi and Ansamble.
The company says it aims to reach MAD 47 billion in revenue by 2030.
