Spar stages comeback in Greek retail market

Spar stages comeback in Greek retail market

Dutch retailer Spar on Monday announced its return to the Greek market, aiming for a 12 percent market share and sales of 1.2 billion euros by 2021.

After a long partnership with now defunct Greek supermarket chain Veropoulos from 1969 to 2016, Spar is now bouncing back through cooperation with Asteras and Mesis Hellas, two relatively small chains in Greece which control 500 stores around the country and chalk up turnover of 700 million euros per year between them.

The first 10 stores will start operating under the Spar brand from July 2018, and according to sources they will all be located in tourist destinations. By the end of the year Spar aspires to have 80 stores, some of which will be in Attica.

The average size of the Spar supermarkets will be around 300-400 square meters, but the company also foresees larger stores of 1,000 sq.m., even in tourism destinations such as Rhodes, Myconos and Naxos.

The company’s stated aim is to develop more than 350 stores across Greece within the next four years (by end-2021) and to have 1,400 private-label products, mostly produced by local industries.

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