GS Express makes its franchise debut in Milan, near the Duomo

The first franchised store under the GS Express brand opened on 5 November 2026 on Via Lupetta in Milan, a short walk from the Duomo cathedral. It is run by an entrepreneur who already owns five other retail businesses in the city. The opening marks an initial step in the renewal of the GS brand and came on the same day as the announcement of an agreement between NewPrinces and Tosano to operate 15 hypermarkets and large-format stores.

GS Express makes its Milan debut

The development most directly relevant to the franchise sector is the opening of the Via Lupetta store. This is the first franchised store under the GS Express brand, rather than simply another opening within the wider GS network. That distinction matters when assessing the announcement: the debut concerns this particular brand and operating model.

The store is in central Milan, close to the Duomo. It is run by an entrepreneur with an established retail presence in the city through five other businesses. This demonstrates the operator’s experience in Milan’s retail market, but does not imply that those other shops all belong to the same network.

The opening represents a first step towards renewing the brand, ahead of the launch of new formats planned for January. The Milan store should therefore be seen as a tangible milestone in a broader programme, while keeping the completed opening distinct from plans yet to be implemented.

GS’s restructuring also involves larger stores

On the day of the GS Express debut, NewPrinces announced an agreement with Gruppo Tosano covering 15 stores belonging to its GS subsidiary. NewPrinces is a food and grocery retail group based in Reggio Emilia, Italy; Tosano is a Verona-based group affiliated with Gruppo VéGé.

The agreement covers hypermarkets and large-format stores generating combined annual turnover of around €500 million. It also involves 13 properties owned by GS and provides for the right to use the Euromercato brand.

This transaction should not be confused with the franchised opening on Via Lupetta: it concerns taking over the operation of business units under lease agreements, with subsequent purchase options. The two announcements therefore describe separate developments within GS: one concerns the franchise debut of GS Express, while the other relates to the operation of large retail sites.

A two-stage agreement, not an immediate sale

The potential value of the Tosano–NewPrinces transaction could reach €453 million, but the contractual structure provides for successive stages. It is therefore not an immediate purchase of the entire portfolio for that sum.

The first stage involves leasing the 15 business units for five years. Total lease payments amount to €110 million, with a further €5 million payable for the granting of the contractual options.

The second stage depends on the options being exercised by 30 June 2032. It provides for the acquisition of the business units for €35 million and the start of a lease-to-own property programme lasting a further seven years, covering the 13 properties involved.

The transaction remains subject to approval from Italy’s competition authority and to other contractual conditions. When assessing the announcement, it is therefore important to distinguish between the signed agreement, the conditions required for it to proceed and the potential for future purchases.

What to watch ahead of January

For those following Italy’s franchise market, the concrete development is GS Express’s arrival in Milan through a store entrusted to an entrepreneur already active locally. The next announced milestone is the launch of new formats in January, a separate step from the November debut.

The Tosano agreement helps place the opening within the broader renewal of GS, but the figures relating to the large-format stores should not be treated as indicators of the franchise project’s scale. The 15 stores, roughly €500 million in turnover and potential transaction value of €453 million all relate to the Tosano deal, not the GS Express store.

Practical takeaway: anyone considering the brand should assess the franchise debut, the forthcoming formats and the large-store agreement separately: they are distinct developments, with different timelines and contractual arrangements.