Eataly eyes joint venture for further China expansion

Italy’s Eataly may form a JV with a Chinese partner, says chairman Andrea Guerra, but also plans to list about 30 per cent of its capital next year.

It also plans to expand with outlets in Las Vegas, Toronto, Europe and the UAE. “In the long term, we aspire to reach 100 stores… and go beyond €1 billion in sales,” says Guerra.

Eataly is an upmarket deli-cum-foodcourt concept with a focus on fresh, artisan foods.

The company plans to increase revenue to €690-720 million in 2020 from €465 million last year. It is also targeting adjusted core profits of €60 to €65 million in 2020, from €25 million last year.

Revenue of €50 million is expected this year, says Guerra.