Irish retail group Musgrave has launched plans to generate EUR1bn (US$1.3bn) in own-brand sales across its stores on both sides of the Irish Sea by 2014.
Musgrave, which operates chains including SuperValu in Ireland and Londis in the UK, sees EUR700m of its sales come from own-label.
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Its new target follows the recent launch of an own-brand range in the Republic of Ireland in its SuperValu chain, which saw 1,500 product lines introduced across the network.
The expansion of Musgrave’s network in the UK will mean the retailer needs to increase its supply from Irish suppliers, which it said would create around 161 jobs at 33 firms to fulfil the demand, the retailer said.
“There has been a significant shift by consumers to own-brand products in recent years in Ireland and the UK,” said Musgrave CEO Chris Martin. “Our aim is to capitalise on this by offering products that are up to 20% cheaper than their branded equivalent. We have set aggressive targets and aim to bring own-brand sales from EUR700m today to EUR1bn across the business by the end of 2014.”
The launch, Musgrave said, will mark the first time that the SuperValu brand is available in the UK. The brand will be positioned around the statement – ‘SuperValu: Super Value, Super Quality’.
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