Eataly sees losses reach £5m
Eataly was founded in 2003 and runs over 40 shops across 15 countries, including Italy, the United States, Canada, Japan, and Germany
Italian food hall and market Eataly has seen its pre-tax losses rise to £5m for the year ended 31 December 2023, compared with a loss of £1.29m in 2022.
The company stated that its sales and margins increased, and labour cost decreased from the previous year, however energy prices had a negative impact on the company’s financial result.
Despite this, the company saw its turnover rise 6.7% from £25m up to £26.7m for the full year.
The 42,000 sq ft venue opened in April 2021 after being delayed by the pandemic and features three restaurants, bars, an Italian food market and cookery school.
The brand stated that there was an increased focus on developing the brand and its existing stores.
It said: “In this context, the group has prepared an annual budget that shows a significant improvement for the company compared to 2023.”
Eataly was founded in 2003 and runs over 40 shops across 15 countries, including Italy, the United States, Canada, Japan, and Germany.
The wider business secured a £174m investment from European private equity firm Investindustrial to support its global expansion in 2022.