Greece: investment & Sunday trading

Date : 08 May 2017

We round up the latest news from Greece as AB Vassilopoulos, Lidl and Metro AEBE invest in the market; Sklavenitis refurbishes stores and the government considers changes to Sunday trading legislation.

AB Vassilopoulos and Lidl invest €100m…

Ahold Delhaize owned AB Vassilopoulos will invest €100m in Greece, which will focus on a new warehouse and around 30 stores. The retailer may also pursue acquisitions in Crete and Thessaloniki to increase its presence.

Lidl will also invest €100m in the country, following similar levels of investment in 2016. Partnering with Greek suppliers is also a priority for. This is evidenced by a current marketing campaign, highlighting the value and local sourcing of private label products versus brands.

Source: Lidl Greece

…As Metro AEBE invests €80m

Elsewhere in the market, Metro AEBE is planning to invest €80m in 2017-2018 in the refurbishment of old stores and creation of new ones. Thessaloniki is a geographic area of focus as the retailer looks to develop stores, while also planning to invest €20m in a new distribution centre.

Sklavenitis refurbishes 38 stores

Meanwhile, Sklavenitis is refurbishing 38 of its stores across Greece, with employees being transferred to other stores for the period of closures.

Changes to Sunday trading?

In other news, Greece may look to increase the number of Sundays that stores can open from 12 to 30 per annum, following demands from creditors, the EU and the IMF. Such a decision would need to be approved by mid-May.

Three years ago, the same creditors compelled the country to open stores on the first Sunday of every month.