Expansion thanks to investment
Veritas’ new store in the French city of Lieusaint, in the urban agglomerate Sénart, is the company’s first in France.
It is not entirely surprising that Veritas is considering moving to France as Belgian investment firm Indufin, which acquired a majority stake in Veritas in March 2015, targeted an international expansion.
“If we can keep up our growth pace at 8 to 10 store openings per year, we will reach our ceiling in Belgium and Luxembourg in 2017 as we believe there is only room for 130 stores in total. That is why we want to cross the border and start working on a European level”, CEO Ine Verhaert said back then.
Veritas opened its very first foreign store in September, when it came to the German city of Bochum, in the North Rhine-Westphalia state. Its goal is to open 4 pilot stores there and to decide whether a major expansion is desirable afterwards, a strategy it will most likely mimic in France.
