Label’Vie, a leading player in Morocco’s retail sector, has announced a bold strategy to invest 7 billion dirhams ($703.6 million) to expand its operations over the next five years. This major initiative marks a strategic shift for the company.

The bulk of this budget will fund the opening of 774 new stores between 2024 and 2028, bringing the total number of Label’Vie outlets to 953 across Morocco. Amine Bennis, the group’s Chief Financial Officer, emphasized that 80% of this investment will be self-financed.

With this expansion, Label’Vie aims to significantly boost its revenue. The company is targeting a 77% increase, aiming to hit 28 billion dirhams ($2.8 billion) by 2028. In 2023, Label’Vie had already achieved a 13% growth in revenue, reaching 15.8 billion dirhams ($1.6 billion).

Label’Vie currently operates hypermarkets and supermarkets under well-known brands such as “Carrefour”, “Carrefour Express”, “Carrefour Market”, “Atacadao”, and “Supeco”. This diverse portfolio allows the group to cater to a wide range of consumer needs, from large shopping venues to convenient local stores.

This announcement comes at a favorable time for Morocco’s retail sector. In 2023, sales in the market grew by 5%, reaching nearly 34 billion dirhams ($3.4 billion), according to British market research firm Euromonitor International.

Label’Vie’s substantial investment underscores its confidence in the growth potential of Morocco’s retail market. By enhancing its nationwide presence, the group not only aims to increase its market share but also to stimulate the local economy by creating numerous jobs.