Michele Peresso Group has signed an exclusivity agreement with Upim srl of Italy to open four large retail outlets in Malta and Gozo. Upim specialises in the general retail of women's wear, men's wear, children's wear, home and beauty.
The group will be investing €6 million over the next few years and the first department store - in Gozo - was officially opened last Friday at The Duke Shopping Mall in Victoria by Gozo Minister Giovanna Debono. It employs 10 people and has a shopping area of 550 square metres, making it the largest retail outlet in Gozo.
An additional 45 jobs will be created when the other three outlets are opened, the company said, adding that these will be even larger than the Gozo premises and will opened in the coming months. One of the three additional outlets will be in Valletta, which will open in September, and another will be in Sliema.
The Upim brand is a familiar one for the thousands of Maltese who travel to Italy. The company has 153 direct stores and 204 franchises located in all parts of the Italy as well as in Albania and Croatia. It has an annual turnover of €570.
"It is with satisfaction for the Michele Peresso Group to receive the full trust from our principals, Upim, and for the company to invest in our country, after having embarked on an expansion programme which sees Upim opening stores in various parts of Europe," a statement by Michele Peresso Group said.
Speaking during the opening of Upim in Gozo, Emanuel Peresso, CEO of the Michele Peresso Group said Upim customers will be offered a Loyalty Club Card which will earn them points and that Upim offered value for money products.
Addressing guests, Mr Peresso said he was conscious of the global economic climate: "This official opening of the first Upim store in the Maltese islands coincides rather unfortunately with the present gloomy situation prevailing around the world, be it America, Asia and Europe - Malta is not an exception. We are currently in a rather slowdown period, where retail is almost stagnant. It is being said that the worse is still to come, God forbid, I say.
"The international recession may hit us severely and it may not. I always say that we Maltese, and when I say Maltese I also refer to our dear brothers and sisters the Gozitans, are warriors, we have always fought battles and won. The Maltese have the ability to strive hard in difficult situations, and so this dark patch nearing our shores may pass over - we pray for this to happen," he said.
Mr Peresso also urged the government to support the self-employed saying that people in this sector were very hard workers who were not entitled to leave or sick leave and yet were very often "left alone trying to struggle for our survival".
He said that while it was good of the government to support tourism and manufacturing, medium- and small-sized companies - which together employ about 65,000 people - "very often have to absorb unnecessary costs to the extent that we even have to subsidise the costs of others". He called for the government to initiate a well-planned incentive and support programme for the self-employed.