Food, fashion and DIY retailer Maxeda will expand aggressively outside of the Netherlands, as a result of rising profits for the first half of this year.
Maxeda, run by former Asda chief executive Tony DeNunzio, is on course to open more than 100 stores this year. The majority of these will be outside the Netherlands.
DeNunzio said: “We are accelerating our expansion. New formats are being developed, stores remodelled and countries opening up.” Maxeda owns department store chain Vroom & Dreesmann, DIY outfits Praxis and Brico, lingerie chain Hunkemöller and La Place eateries.
Maxeda has opened Hunkemöller stores in Cairo, Egypt and Riyadh, Saudi Arabia this year and is to open the first of La Place’s Belgian stores in Antwerp.
For the first half of this year, Maxeda posted EBITDA up 11.9 per cent to 92.2 million (£64.2 million), with total sales (including concessionaires) up 6.6 per cent to 1.56 billion (£1.09 billion).
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