LabelVie Surpasses 10 Billion Dirhams for the First Time and Accelerates Its Expansion in Morocco
The LabelVie group delivered a robust performance in the first half of 2026, driven by both the acceleration of its commercial network expansion and the enhancement of its existing store performances. This momentum enabled the company to surpass, for the first time in its history, the milestone of 10 billion dirhams in revenue.
In the second quarter, the modern distribution business generated revenue of approximately 4.607 billion dirhams, marking an increase of 19% compared to the same period in 2025. This growth comes as the group continues to rapidly expand its network of stores.
A significant portion of this growth stems from the stores opened in 2025, which are gradually contributing more to sales. These new outlets accounted for about 57% of the growth recorded in the second quarter.
Existing stores also played a role in the performance, with sales increasing by 6.6%, contributing nearly 39% of the overall growth. According to the group, this development is notably attributed to the ongoing increase in the number of customers and the traffic at various brands.
The remainder of the growth, approximately 4%, came from the continued expansion of the network under the multiformat model adopted by LabelVie, allowing the group to cater to the needs of different consumer categories and strengthen its presence in local markets.
42 New Stores Opened in the Second Quarter
In 2026, LabelVie continued its extensive expansion program. The group opened 42 new stores during the second quarter, bringing the total number of units launched this year to 72.
These openings span various brands under the group, with 59 Supeco stores, 5 Carrefour Market stores, 7 Carrefour Express outlets, and 1 Atacadao store.
This expansion reinforces the group’s strategy to diversify its business formats to cover different territories and consumer segments while solidifying its position in the retail sector in Morocco.
Significant Increase in Investments
Alongside the network expansion, LabelVie also ramped up its investments in the second quarter. Capital expenditure reached approximately 666 million dirhams, compared to 420 million dirhams during the same period in 2025.
These investments were primarily directed towards funding new openings, developing logistical infrastructure, and enhancing the necessary capacities to support projects planned for 2027.
Despite this investment surge, the increase in net debt remained limited, standing at around 4.650 billion dirhams at the end of June 2026, up from 4.606 billion dirhams at the end of December 2025.
Vision 2028 in Sight
The group is also advancing its strategic plan, “Vision 2028,” which aims to accelerate network expansion and improve operational performance over the coming years.
For the entire 2026 fiscal year, LabelVie anticipates a 15% increase in sales area, accompanied by revenue growth close to 15%. The group also aims to continue improving its EBITDA margin, targeting around 9.3%, in line with its strategic plan objectives.
The CEO of LabelVie, Nawal Ben Amar, noted that the results from the second quarter illustrate the group’s ability to blend organic growth from existing stores with rapid network expansion.
She also emphasized that crossing the threshold of 10 billion dirhams in revenue during the first half marks a significant milestone in the group’s history and reflects the efforts of the teams as well as the effectiveness of the multiformat business model.
Towards a New Institutional Configuration
These results also come amid a transformation of the group’s institutional structure. LabelVie S.A. and Retail Holding S.A. announced on May 4, 2026, a merger project aimed at consolidating the different activities of the two groups into a single entity listed on the Casablanca Stock Exchange.
If finalized, this operation is expected to alter the group’s structure and unify its various operations under one entity, as LabelVie continues its investment program, network expansion, and strengthening of its position in Morocco’s retail market.
