French frozen-food chain Picard will open some 250 French stores in the next three years, and still aims to double the international share of its turnover.
Backed by retail specialist
Picard has 1,200 products in its line-up and adds some 200 products per year. Fifty of those are purely for the festive holiday period, exactly the period in which it manages 15 % of its total turnover.
Picard was originally a family business, was purchased by Carrefour and subsequently moved to several investment funds. Lion Capital gained full control of the company four years ago, but CEO Philippe Pauze believes it "would be good for Picard to get the support of a retail specialist, especially during the international expansion."
The Picard group has lofty and ambitious goals for its international expansion, particularly in Asia and North America. Currently, the group generates 95 % of its turnover in France, but within 5 years' time, foreign turnover should have doubled. Its current turnover grew 1.5 % in 2013, reaching 1.35 billion euro.