UniEuro sold for £230m in 2003, marking a significant transition for Oscar Farinetti, who subsequently pivoted his career from consumer electronics to the global food market. Born in Alba in 1954, the Italian entrepreneur shifted focus from managing a local supermarket chain to developing an expansive international business model centered on high-end regional food products.
Early Career and UniEuro
The foundation for Farinetti's business operations began within his family's enterprise. His father, Paolo Farinetti, established a small supermarket in 1967 named UniEuro. Farinetti commenced studies at the University of Turin in 1972 but withdrew in 1976. He joined the family firm as a board member in 1978, eventually rising to the positions of CEO and Chairman. He maintained this leadership role until 2003, when he finalized the sale of the chain to Dixons Retail.
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Following the divestment of UniEuro, Farinetti founded Eataly in 2004. The venture operates as a high-end food mall chain headquartered in Monticello d'Alba, Cuneo, Italy. The business model integrates elements of a European market, a food court, and a learning center. Its footprint grew to include 28 stores spanning Italy, the United States, the United Kingdom, Canada, Japan, Turkey, and Brazil.
International Expansion
The growth of the Eataly brand involved specific large-scale project openings. On 18 March 2014, the company launched a 5,000-square-meter facility in Milan at Piazza XXV Aprile. Further international expansion included a store in Copenhagen in November 2016 and a 50,000-square-foot location in Canada on 13 November 2019. These operations have attracted international press coverage, including reports from Forbes, The Atlantic, and the Chicago Tribune.
Fast facts
- Born: 1954, Alba
- Citizenship: Italy
- Education: University of Turin
- Key Business Sale: UniEuro to Dixons Retail, £230m
- Founding of Eataly: 2004
- Eataly Headquarters: Monticello d'Alba, Cuneo, Italy
Questions readers ask
What was the initial business founded by Paolo Farinetti?
Paolo Farinetti founded a small local supermarket named UniEuro in 1967.
In which countries does Eataly operate?
The company operates in Italy, the United States, the United Kingdom, Canada, Japan, Turkey, and Brazil.
Achievements
- Educated at University of Turin
