LabelVie demonstrated remarkable resilience and agility in the first half of 2024, achieving impressive results despite economic challenges, including pressures on household purchasing power. The group reported a significant increase in revenue, reaching 3.9 billion dirhams in the second quarter—a 5.4% rise compared to the same period last year.
This solid performance is the result of an ambitious expansion strategy, with the opening of 11 new stores during the first half of the year. These new stores span various formats to meet the diverse needs of consumers: 3 Carrefour Market, 3 Carrefour Express, 4 Supeco, and 1 Atacadao.
As a result, the group’s cumulative revenue for the first half of 2024 totaled 7.8 billion dirhams, marking a 3.3% increase.
This growth is particularly noteworthy given the challenging environment of reduced consumer purchasing power. LabelVie successfully adapted by offering a diverse and attractive range of products, catering to its customers’ needs.
In addition to its expansion efforts, LabelVie strengthened its financial structure. The opening of the capital of its real estate investment fund (OPCI) Terramis raised 473 million dirhams, reflecting investor confidence in the group’s potential. Despite accelerating its investments, LabelVie has maintained a controlled level of debt, standing at 3.9 billion dirhams as of June 2024.
Buoyed by these positive results, LabelVie looks to the future with optimism. The group plans to further accelerate its growth in the second half of the year, with more than 35 new store openings scheduled. This dynamic growth strategy underscores LabelVie’s commitment to solidifying its position as a leader in Morocco’s retail market.
