Amplifon group, one of the world’s largest distributors of hearing aids and listed on the Milan stock exchange, is strengthening its presence in the United States by purchasing a chain of 50 stores with high turnover operating in four states of this large American country. around $20 million. The sales points carry the “Miracle-Ear” sign, which is the brand of the Milanese company that operates in the USA but is managed under franchising. However, after the acquisition, they will become part of the network managed directly by the purchasing company. Thus, it strengthens its dominance in the sales network of this region, which is the first market in the world for hearing aids.
“This acquisition is an important new step towards further accelerating our growth in the American market. “This operation fits perfectly with our business model in the United States, which is characterized by the development of a significant direct store network operating in synergy with our historical and proven franchising business,” commented Group CEO Enrico Vita.
In the United States, Amplifon has an overall network of 1,550 outlets in 1,800 stores throughout the Americas, including Canada, Argentina, Chile, Mexico, Panama, Ecuador and Colombia. Thanks to the acquisition, the number of direct stores in this region increased to 350.
In the first nine months of 2023, the Americas region reported revenue of 321 million euros, i.e. 20% of total revenue of 1.64 billion euros. The EMEA region (Europe, Middle East, Africa), which includes Italy, reported revenue of 1.06 billion euros. There are around 800 Amplifon sales points, direct and franchise, in our country, and this number reaches 9,500 worldwide. Full 2023 results will be available on March 7.
Source: Today IT
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
