2023-12-09 08:44:32
Five years after her descent into Athens, the “Masoutis” chain has been operating since yesterday its first supermarket in the capital, a move with which it aspires to achieve an increase in its shares in what has proven to be a difficult market. The goal is to have its second supermarket in operation within a year from now Attica, at Treis Gefyres, with the investment plan providing for two more large stores in Athens in the next phase. “Masoutis” is also targeting its market Peloponnesewhere so far it has a very small presence, with the northern Helladic chain planning the development of 15 stores.
In particular, according to what they reported yesterday, on the sidelines of his inauguration Grand Masoutis in Glyfadathe president and CEO of “Masoutis” Yannis Masoutis and the general manager of the chain Theodoros Gerostergioudis, in 2024 total investments of 20-22 million euros are foreseen, a key part of which will be the opening of 10-12 stores. This amount does not include the investment in Three Bridges. It is recalled that the investment in question foresees the creation of a supermarket with an area of approximately 2,000 m2, a store that will be ready at the end of 2024, and the construction on the same plot of land of two nine-story apartment buildings with a total of 110 apartments. The budget of this investment exceeds 40 million euros.
In an effort to “penetrate” more in Athenian households, “Masoutis” plans to create two more supermarkets in the capital, one of which will be located in the northern suburbs and one in the center of Athens. It is recalled that “Masoutis” entered Athens in 2018 with the acquisition of the “Promethevitia” chain, which, however, only had a network of small and medium-sized stores. Something that clearly limits the possibilities of increasing turnover and market shares, given that due to the pandemic initially and then due to an inflationary crisis (in supermarkets there is a greater possibility of making offers) supermarkets have found the glamor that they lost slightly during the economic crisis . With the new store in Glyfada, the total number of “Masoutis” stores in Attica reaches 58, while it also has a dark store for servicing orders placed in its online store. The new store in Glyfada, on Vouliagmenis Avenue, has an area of 2,000 sq.m., 200 parking spaces and employs around 90 people. The opening ceremony was attended by, among others, the Minister of Labor Ad. Georgiadis, the outgoing governor of Attica G. Patoulis, the elected governor of Attica N. Hardalias and the mayor of Glyfada G. Papanikolaou.
The other big market that interests “Masoutis” due to the high incomes and the great tourist development is that of the Peloponnese. Today the chain has only three stores in the Peloponnese, all in the Prefecture of Achaia, and in ten days it is expected to open one more in Patras, specifically in Psila Alonia. Although in the past there had been strong rumors about the acquisition of a local chain, this ultimately did not happen. And according to Mr. Gerostergioudis, there are no chain negotiations at this stage. Thus, as Mr. Masoutis pointed out, the expansion in the Peloponnese is planned to be done with organic growth that includes the creation of approximately 15 stores in the medium term.
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