“Dazzling” is surely the most appropriate term to define the growth of Medi-Market in Luxembourg. Arriving in 2016 in the Knauf shopping centers in Schmiede and Pommerloch, the brand managed to expand its network in record time. In 2024, Medi-Market will have twelve points of sale spread across Luxembourg, four of which opened in the past year alone. Indeed, the latest openings took place in the Gare district of the capital in February, in Differdange in April, in Schengen in July and at the Kirchberg Shopping Center in December.
A prosperous year which can be explained by the potential of the Luxembourg market for the Belgian group. “The very first Medi-Market opened at the end of 2014. A big year later, we were ready to begin development in Luxembourg,” underlines Cédric Antoine, CEO of the Medi-Market group. “Historically, when it comes to trade, Luxembourg and Belgium work very much in tandem.”
Cédric Antoine, CEO of the Medi-Market Group © PHOTO: Medi-Market
A prosperous year which can be explained by the potential of the Luxembourg market for the Belgian group. “The very first Medi-Market opened at the end of 2014. A big year later, we were ready to begin development in Luxembourg,” underlines Cédric Antoine, CEO of the Medi-Market group. “Historically, when it comes to trade, Luxembourg and Belgium work very much in tandem.”
It must also be said that Luxembourg represented a major opportunity for the brand. “There was clearly a market to open, because there was no equivalent in terms of competition. There was a network of small, mostly independent pharmacies with a fight over prices that deserved to be waged for the benefit of customers,” notes Cédric Antoine. The latter also knows well the retail Luxembourger since he was director of Cora de Foetz for several years.
Luxembourgers quickly grasped the attractiveness of our concept, which boils down to a fairly simple triptych: low prices, choice and advice.
Cedric Antoine
CEO of Medi-Market Group
It therefore only took a few years for the brand to establish itself in the Luxembourg commercial landscape. And the four openings during the year 2024 demonstrate that the formula has been adopted by the population. “Luxembourgers quickly grasped the attractiveness of our concept which boils down to a fairly simple triptych: low prices, choice and advice from our specialized teams.”
The success of Medi-Market, in Luxembourg as elsewhere, can be explained by a policy of lower prices, on average 20% lower than those of traditional pharmacies. “We are also the brand that offers the most square meters available for the installation of assortments dedicated to health and well-being. We are therefore talking about more than 10,000 different references. This is something that was completely new for consumers.”
A chaotic arrival in Belgium
When Medi-Market arrived in Belgium, a certain controversy emerged, particularly among traditional pharmacies. The Order of Pharmacists had even initiated legal proceedings aimed at limiting the group’s activities. In question, “practices which undermine the profession of pharmacist and are likely to harm patients”.
Did similar hostility also occur from Luxembourg pharmacies when the arrival of Medi-Market was announced? “As for the Grand Duchy, this was not the case. This fight is now behind us, the Competition Authority having ruled in our favor,” recalls the CEO.
A new opening in Luxembourg
In 2025, Medi-Market intends to continue its Luxembourg expansion with a thirteenth opening planned for next May. “This will see the light of day within the new Cactus hypermarket in Esch-Lallange,” reveals Cédric Antoine. “The latest opening, in Kirchberg, reassured us about the development potential in Luxembourg, the store having recorded a very good first week of operation.”
Medi-Market also intends to continue its international development this year. “We have been present in Italy for five years and we have the fierce desire to establish ourselves there on a large scale. We are going to open 31 stores there this year while we already have a network of 41 points of sale. Within five years, we would like to have a network of 180 stores, solely for the Italian market.”
International expansion
The CEO also says he is eyeing the Spanish and Dutch markets for a first foray in 2025. “We want to open five stores in Madrid and three in the Netherlands. This will be a great first for our group since we will really start from scratch to build an offer adapted to the needs of consumers in different countries. If the experience is successful, this will open the way to other new markets,” he specifies.
“Ultimately, the objective is to enable Medi-Market to become a true health brand. In other words, to establish partnerships with the various health stakeholders so that we become a reference platform in this area, a vector of communication offering solutions and services to facilitate access to care and healing of citizens. But also to do prevention and reduce the work of medical practitioners.”
In 2024, the group’s total turnover amounted to 420 million euros. “In 2025, it is obvious that the 500 million euros mark will be well exceeded thanks to growth which was, in recent years, 30% on average,” concludes the CEO.
