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French frozen food giant invests in Sweden

Thursday, 06 December 2012
The French food chain Picard, which only sells frozen foods will be establishing itself in Sweden.
Radio Sweden report that by February 13, the company will opened the first grocery store in Stockholm and within five years, there should be fifty around the country.

This comes at a time when there has been increasing questions about the performance of mostly foreign owned food retailers in Sweden. We recently reported how discounters such as Lidl and Netto are struggling in the Swedish grocery market. But the Swedish market still seems to look attractive for those with the best strategy or the deep pockets to splash out one the high cost of establishment here.

Picard's CEO, Pierre Pauze explains to radio Sweden that Sweden is an attractive market...
"Swedes are the second largest consumer of frozen food in the in the world. You buy two and a half times as much frozen food per capita as the French. We expect that sales per store will be higher and believe in a turnover of two million euros, 18 million per store."
By Scancomark.com Team

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