Masoutis: Strengthens the presence on the islands – Inaugurates the renovated store in Corfu

The development in the island country continues dynamically D. Masoutis, which launched on Saturday, the renovated large store in Corfu while at the same time planning its creation first Cash & Carry (wholesale store) on the island in 2025 but also its expansion in Lefkada.

It is noted that Masoutis occupies a leading position in Corfu as in 2022 it added to its network, 18 new stores, after its agreement with the Cretan SYN.KA and the transfer of the island’s branches, of the companies “Galaxias S.A.” and “Markato SA”. The total turnover of the 18 stores reaches 50 million euros making it 4% of the company’s total turnover. They employ 314 workers, with Masoutis retaining all the workers in the stores that were acquired or merged.

The store, surface 1,600 sq.m. with storage spacewhich was renovated on Saturday, April 20, is the largest supermarket on the island, while it employs 30 employees. Opposite the renovated store is even planned, the creation in 2025, of the first Cash & Carry, in Corfu, which will serve the wholesale needs of the island. The company’s plan includes its further expansion in the Ionian, soon in Lefkada.

Investments of 25 million for renovations and new stores

The company for the current year implements investments amounting to 25 million euros for renovations of existing ones as well as the creation of new stores. Specifically, its plan for 2024 includes new stores and specifically, the Grand Masoutis on the Three Bridges in which a residential project will be developed, New Smyrna, as well as shop in Chalkida.

As far as they are concerned store renovationssince the beginning of the year have already been renovated 5 stores: one in Santorini, 2 in Corfu, one in Milos and one in Trikala. Within 2024, total renovations will take place 15 stores, of which 12 in the Region and 3 in Athens.

It is noted that the turnover of Masoutis, which has a market share of 10%, in 2023 exceeded the barrier of 1 billion euros showing growth rate over 16%while the first quarter of 2024 shows a growth rate of the order ofth 7.5%.