For Greek consumers, the brand Spar has always been associated with the name Veropoulos. The Dutch retail giant has been associated with the iconic grocery stores since 1969, up until 2016, when the supermarket chain folded due to the crises.
Now Spar is re-entering the market, investing in two small supermarket chains, Asteras and Mesis Hellas, which control 500 stores in Greece, combined, with a total annual turnover of 700 million euros. The Dutch company’s strategy is to start its new operation in the popular tourist destinations before moving on to the larger cities. The first ten stores to be rebranded and start operating under the Spar logo will open in July, with a total of 80 stores to have opened by the end of 2018 and more than 350 by the end of 2021.
Spar is aiming for a 12 percent market share, and sales of 1.2 billion euros within four years.