Sales in 2022 rose by nearly 30% year-on-year, fully justifying the ambition of the Belgian chain of parapharmacies, pharmacies, and beauty institutes Medi-Market to continue its expansion journey. Its strong growth plan includes 12 openings in Belgium and the Grand Duchy of Luxembourg and 14 in Italy.
The Belgian group Medi-Market had an excellent year in 2022. Its turnover increased by 30% in 2022, boosting its market share to 15% in Belgium.
“Our results are very satisfactory because this growth is mainly organic, with a noticeable increase in the market share of each of our stores in their respective catchment areas. The rise in sales is linked to the increased footfall in our stores and its impact on the number of transactions, which represents major economic fundamentals for a retailer.” – Cédric Antoine, CEO Medi-Market
This strengthening is mainly explained by the difficult economic situation faced by households, whose declining purchasing power encourages them to seek the best prices. And this is precisely what Medi-Market offers in the health and wellness sector: a wide choice of quality products at unbeatable prices, accessible to all.
“Our reputation was born from this unique positioning in the sector. Today, even more than yesterday, we play a role in supporting household purchasing power. Medi-Market has become a key player in health and wellness, frequented by 1,400,000 households in Belgium.” – Cédric Antoine, CEO Medi-Market
26 openings announced for 2023
The strong sales growth is also due to the expansion of the Medi-Market network.
In 2022, the group opened five parapharmacies (at the newly renovated Westland in Anderlecht, in Ottignies, in the Uccle district of La Bascule, in Gembloux, and in the Belval Plaza shopping center in the Grand Duchy of Luxembourg) and one pharmacy (in the Belle-Île shopping center in Liège).
This expansion brings it close to the milestone of 100 points of sale in the Belux region, which it will surpass during this year. No fewer than twelve openings are planned for 2023 (ten parapharmacies and two pharmacies), twice as many as in 2022.
In Italy, where Medi-Market entered in 2019, a doubling of the portfolio is even planned, increasing the number of points of sale from 14 parapharmacies (located in Milan, Turin, Bologna, Parma…) to 28!
Employment, the third ingredient of a winning equation
The Medi-Market group employs 875 people. Today, as since its founding, it is actively recruiting. Many positions are open across various disciplines. Alongside a wide product range and low prices, the expertise for personalized advice provided by multidisciplinary teams is the third pillar of Medi-Market’s philosophy. If prices are low, it must never be at the expense of what matters most: quality advice and service.
“We are one of the most dynamic employers in the sector. Given our growth, we have a significant ongoing recruitment volume in our stores. In 2022, nearly 200 new hires joined Medi-Market. Considering our expansion plan, we will soon reach 1,000 employees.” – Cédric Antoine, CEO Medi-Market
About Medi-Market Group
The Belgian brand Medi-Market was founded in December 2014 with the firm commitment to make healthcare and wellness accessible to all by offering the lowest prices on pharmacy and parapharmacy products (dermato-cosmetics, skin and hair care, dietary supplements and tailored nutrition, natural medicines, baby care, and bandaging). The group is now active in three European markets (Belgium, Grand Duchy of Luxembourg, Italy) and is present online. Medi-Market offers more than 10,000 health and wellness products in its points of sale and online. Its warehouse covers a surface area of 10,000 m².
At the end of 2022, the Medi-Market network counted 72 parapharmacies, 27 pharmacies, and 8 beauty institutes. Together, they welcome over 15,000 customers daily.
Its 2022 turnover increased by 30%. The company employs 875 people. The brand remains 100% owned by Belgian investors.
