Very Much grows due to franchise. The Catalan decoration and home accessories company has started an ambitious international plan through which it plans to open up to 24 new establishments in 2024. The company’s focus is on Italy, although it also plans to land in new markets, such as El Salvador or Romania. .
The company, pending the audit, has closed the 2023 financial year with a turnover of 39 million euros, which is 1% more than the previous year, as explained by the company’s CEO, David Monné. , to Modaes. For 2024, the company has closed the first half of the year with a growth of 1%, a figure that it plans to raise to 3% at the end of the year..
The company’s roadmap has two main axes: expand its network of establishments abroad and improve the user experience on its sales platform. “Most of the openings will be concentrated between June and October, and especially in Italy, where we currently only operate with ten establishments,” adds Monné.
In the third quarter of 2023 alone, The company plans to open two stores in Italy, in the cities of Bologna and Turin.In Spain, where Muy Mucho concentrates around 35% of its business, and France, the second largest market, the company also plans between three and four openings. The Catalan company operates with 70 and 40 stores in the two countries, respectively.
Muy Mucho will also expand to new countries such as El Salvador or Romania.
In parallel, however, Muy Mucho will also increase its presence abroad. By the end of the year, the company already plans the first opening of the chain in El Salvador, which will join the list of Latin American countries in which Muy Mucho is present. Mexico, Ecuador, Panama and Guatemala are some of the most relevant markets on the continent for the Catalan company.
Looking ahead to 2025, moreover, Muy Much will open its first store in Romania, as well as another in Latin America, which Monné has not revealed. All planned openings, on the other hand, will be through a franchise model. Of the total of 171 Muy Mucho establishments, only 18 are the company’s own stores.
The Catalan company divides its results, in fact, between both models. Of the total of 39 million euros that it invoiced in 2023, eleven million euros corresponded to its own storeswhile the franchises invoiced 28 million euros.
The company’s online sales accounted for between 3.5% and 4% of turnover
Promoting Muy Mucho’s digital channel is the company’s second priority. Online sales accounted for between 3.5% and 4% in 2023compared to the 8% expected by the company. In the online channel, Muy Mucho operates only in Spain and France, although it aims to expand its services to new markets.
Although the franchise model is predominant in the company, explains Monné, The digital business is centralized in the parent company, which manages all online logistics from Sant Boi de Llobregat (Barcelona). “Before the end of the year, we will also be updating the user experience on our website,” says Monné.
