May 3, 2018 / 10:58 AM / a year ago

Eataly to decide soon over possible Chinese joint-venture

MILAN, May 3 (Reuters) - Italian high-end food retailer Eataly will decide in coming months about a possible joint-venture to enter the Chinese market, Chairman Andrea Guerra said, adding that a local partner could also be interested in taking a stake in the group.

The grocery chain, which sells Italian delicacies at stores it has been opening around the world, is privately owned, but Guerra confirmed plans to list around 30 percent of the capital next year.

Eataly is betting on growing revenues to 690-720 million euros in 2020 from 465 million euros last year. It also sees adjusted core profits of 60-65 million euros in 2020. (Reporting by Elisa Anzolin; writing by Francesca Landini, editing by Valentina Za)

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