By Giorgos Lampiris
Masoutis is proceeding with a pilot expansion through franchise with 19 stores in the next period of time. The beginning will be made from Northern Greece through Express Market, the cooperating network of stores that it already has, which will be transformed into Masoutis and if the results are satisfactory, it will proceed with the expansion of the specific model. In this way, it becomes one more player in the market that moves in this direction after Sklavenitis, AB Vassilopoulos and My market.
It is a model of faster network expansion that reduces costs and improves profit margins for businesses that implement it.
Regarding the expansion plan and areas of interest, 2018 may
Masoutis to open the door to Attica, then acquiring Food Supply with 56 stores, which marked his descent into the capital, however today almost 6 years later, many of his steps are related to the expansion and improvement of the network and services in region. It is noted that Attica is a highly competitive environment with a multitude of supermarket businesses and the dominance of its main competitors, the main of which is Sklaveniti, but also AB Vassilopoulos, Lidl and My market.
We will also remind you that at the moment the company does not have a transit center in Attica to serve its stores, as a result of which the distribution of the products is carried out from its central warehouses in Kavalari, Thessaloniki.
Masoutis is looking forward to expanding to the rest of Greece as well as to the islands, where it can have a competitive advantage, investing in selected points of sale, focusing on both the renovation of existing stores and the creation of new ones. A typical example was Afoi Denaxa, which it acquired in 2022, gaining access to Mykonos, Santorini and Paros as well as a Cash & Carry store in Paleo Faliro.
He prepares the entrance to Lefkada
At the same time, however, the development of the chain’s network in the Ionian Islands is underway. In particular, it seems to be betting on the tourist public that flows into Greece, since in 2025 it is going to open the first wholesale store, Cash & Carry, with the object of serving the catering points and hotels in Corfu. It is noted that the company renovated a large store it maintains in Lefkimmi, with 1,600 square meters of storage space. Further expansion in the Ionian Sea is in the plans. In the context of this development, he has acquired 2 plots of land, investing 1.7 million euros for this purpose. The next step for Masoutis will be the expansion to Lefkada.
At the same time, the expansion plan in the Peloponnese remains. However, the chances of this happening through a takeover of a local player are remote, given that key retailers in the region are not selling. Therefore, the development will be implemented with own forces, as the executives of the chain supported.
We remind you that the company entered Corfu in 2022 after the agreement with SYNKA of Chania, which owned 18 stores of the companies Galaxias (Dimitra Market) and Markato, which the Cretan chain had previously acquired in 2020. Corfu brings in Masoutis 4% of its turnover, while a total of 314 people are employed on the island of Faiaki.
Turnover over 1 billion euros in 2023
In 2023, Masoutis recorded a turnover that exceeded 1 billion euros, moving upwards compared to 2022 with a percentage of 16%, while this year the average growth rate recorded during the first quarter of the year was 7.5%. The forecast for the entire year is that the turnover will move marginally positive and while the entire market is estimated according to the executives of the chain, that it will move with a negative sign.
Investments of 25 million in 2024
For 2024, investments totaling 25 million euros are planned for new stores and renovations of existing ones, while three new stores are to operate in Treis Gefyres, Nea Smyrni and Chalkida. In addition to the others, 15 stores will be renovated, of which 12 are located in the region and the remaining 3 in Attica. 5 stores have already been renovated, of which one is located in Santorini, two in Corfu, one in Milos and one more in Trikala.
At Treis Gefyres, the Thessaloniki company is developing a real estate project with a total budget of 30 million euros, which concerns the creation of a Grand Masoutis store and the construction of two nine-story apartment buildings.
The store in Three Bridges will have an area of 2,000 square meters, while the two apartment buildings will have a total of 110 apartments.
The chain’s market share stands at 10%, making it the fifth largest chain by turnover behind Sklavenitis, Lidl, AB Vassilopoulos and My market.
