The Venchi group grows and expands its points of sale also thanks to Unicredit. The company, heir to the historic chocolate brand, born at the end of the 800th century to satisfy the refined palates of the House of Savoy, has reached an agreement with Unicredit. The bank headed by Jean Pierre Mustier – announcing the third subscription of minibonds within a few days – subscribed to a bond loan issued by Venchi, to be precise.
It is a "bullet" bond - with a fixed maturity, repayment in a single solution on maturity and therefore non-repayable or redeemable in advance - fully subscribed by Unicredit and for an amount equal to 7 million euro. This is yet another minibond subscribed by UniCredit with an Italian company, confirming the important potential of the country's industrial fabric, underlines the press release of the banking group. For Venchi, the issue subscribed by UniCredit “is a further step in financing investments for the next three years. We have foreseen 70 openings of new stores all over the world by 2020, with a focus on the Asian market where there will be 45 new openings”, explains Daniele Ferrero, CEO of Venchi Spa.
With a history of 140 years behind it, the Made in Italy chocolate company is present in 70 countries around the world with over 100 points of sale in cities such as London, New York, Dubai, Hong Kong. Turnover exceeded 80 million euros in 2017 and is now aiming for a target of 95 million for 2018, continuously growing thanks to the development of single-brand stores, the "Cioccogelaterie". Venchi is distributed in over 7500 specialized stores in Italy, the headquarters are in Cuneo but it is also present with offices in Milan.
