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Eataly to decide soon over possible Chinese joint-venture

Published 03/05/2018, 12:04
Updated 03/05/2018, 12:10
© Reuters. Eataly logo is pictured on a wood box at the Eataly food market store entrance in the former Smeraldo teather downtown Milan

MILAN (Reuters) - Italian high-end food retailer Eataly will decide in coming months about a possible joint-venture to enter the Chinese market, Chairman Andrea Guerra said, adding that a local partner could also be interested in taking a stake in the group.

The grocery chain, which sells Italian delicacies at stores it has been opening around the world, is privately owned, but Guerra confirmed plans to list around 30 percent of the capital next year.

© Reuters. Eataly logo is pictured on a wood box at the Eataly food market store entrance in the former Smeraldo teather downtown Milan

Eataly is betting on growing revenues to 690-720 million euros (609-635 million pounds) in 2020 from 465 million euros last year. It also sees adjusted core profits of 60-65 million euros in 2020.

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