Parfois invests €70 million to 2020

 In Retail

The Portuguese retail accessory chain Parfois is to open 450 new shops by 2020 in a €70 million investment plan.

The company will also double the number of its offices and modernise its logistics centre according to the site Dinheiro Vivo.

The company currently has almost 1000 shops in 65 countries but by the end of the decade plans to strengthen its position in Europe, particularly in France and Italy as well as penetrating the Asian market.

“We want to replicate our business strategy that we employed in Spain in Italy and France. Spain is our main market with 318 shops and where we are clear market leaders,” says Parfois CEO Sérgio Marques.

In the case of Italy, the brand bought a bankrupt footwear brand that had its own retail network which will now be used by Parfois.

Furthermore, Parfois will hire 360 staff next year (of these 130 in Portugal) which will join the current complement of 3,100 staff worldwide.

As to offices, growth in recent years means the current premises in Gondomar are not longer fit-for-purpose and so the company’s logistics will move to Vila Nova de Gaia.

In the coming year work will also start on an open space with double the present area while its logistics centre in Canela will install more equipment, particularly for product separation.