Marinopoulos Market

ECM Partners, a Cypriot-owned investment fund, is putting the finishing touches to a deal to acquire Starbucks in Greece and Cyprus.

With a turnover of 9.26 billion euros and net profits of over 145 million euros, the big 7 of the organized retail sector were the most profitable in the domestic retail trade in 2020.

Leading supermarket chain Sklavenitis is entering the market of online commerce with the acquisition of the caremarket.gr website.

The retailer, that grew into the largest market player with the acquisition of defunct rival Marinopoulos in 2017-2018, has finally broken into the digital market of retailing with the acquisition of the online sales service from Yoda SA.

Over half a million customers shop at supermarkets belonging to the Sklavenitis chain every day, and the group posted a 12.9 percent annual increase in turnover last year.

Supermarkets sales have been running out of steam since June, confirming concerns that Greece's exit from the bailout program would not automatically mean a rise in demand, particularly since there has been no increase to disposable incomes.

Sklavenitis, the leading Greek supermarket chain, is planning to open a number of store where the emphasis will be on fresh products while another project foresees the showcasing of small Greek producers.

Two of France's biggest supermarket groups were locked in a dispute on Sept. 24 after Casino said it had rejected a tie-up approach from larger rival Carrefour that Carrefour denied ever making.

Leading supermarket chain AB Vassilopoulos on Thursday reported a 3 percent decline in turnover last year, to 2.1 billion euros from 2.17 billion in 2016.

The drop was attributed to continuing price and offers campaigns and the shifts in the sector that last year saw the reopening of the former Marinopoulos stores under the Sklavenitis brand.

Greece's supermarket sector posted an increase in turnover in 2017, albeit small, marking the first annual rise since 2010, according to a survey conducted by Nielsen.

Five months after an agreement was signed to save the Marinopoulos chain of supermarkets from closure, Wednesday should see the start of its operation under the control of the Sklavenitis group.