SPAR Greece reaffirms strong growth plans

November 7, 2018 IN THE CATEGORY: Feature articles

During a supplier forum held in the last week of October and attended by SPAR International Managing Director, Tobias Wasmuht, SPAR Greece confirmed the bold growth plans that were announced earlier this year.

The strategy of developing corporate stores alongside independent retailer-run stores is already bearing fruit, said Fivos Karakitsos, Managing Director of SPAR Greece. He further stated that the company’s goal of creating a network of 330 SPAR Supermarkets nationwide remains unchanged. The new stores will generate revenue of over 600 million Euros by 2021 and will welcome 150,000 consumers on a daily basis. Particular emphasis will be placed on ensuring a great shopping experience for valued consumers, both through high quality customer service as well as competitive pricing.

The strategy being put into place by SPAR Greece marks the beginning of a new era for the local retail market, in which small and medium-sized business will play a leading role. In the year of launch, already the group has already experienced strong growth and positive customer response. Independent retailers are seeing a sales increase of 30% after conversion to the SPAR Brand, not only from greater basket spend but also from new consumers attracted by the instore offer, which includes a wide range of SPAR Own Brand items sourced locally and internationally.

George Papandonis, Chairman of the Asteras Group of Companies, was also present at the forum and said that the partnership with SPAR ensures access to international best practice and training whilst retaining full independence. “We are fortunate to work with the world’s largest independent retailer,” he noted, and invited all independent retailers to join and take advantage of the momentum of the venture.

Since the beginning of the year, SPAR branded stores have opened in five regions of Greece including the capital city and some of the islands. By the end of this year, there will be a total of 24 stores in operation, while the process for the conversion of another 48 stores will be well underway.

Source: SPAR Greece

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Greece became a member of SPAR in 1969, when the Veropoulos company obtained the SPAR licence. SPAR in Greece has experienced immense competition for some time and in the first quarter of 2016, a decision was made by the Veropoulos family to sell the business, resulting in the closure of SPAR and EUROSPAR Supermarkets by the end of that year. The brand was re-launched in Greece in 2017 with partner, SPAR Hellas. The new SPAR Partner has announced its intention to create and operate the largest chain of independent food retailers in the country with plans to develop more than 350 SPAR stores nationwide over the next four years.

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