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Supermarket chain Spar is now also active in Cyprus, albeit in a collaboration with Ermes Department Stores. Just like in other countries, Spar aims to become the country’s largest when it comes to independent supermarket entrepreneurs.
20 stores in 5 years
Ermes is already Cyprus’ largest retail company when it comes to clothing, cosmetics, DIY and consumer electronics. It has 83 stores in Cyprus and another seven in Greece, totaling 75,000 sqm of store space.
Spar Cyprus will not only manage its own store network but also expand through independent entrepreneurs. The very first stores should open in the first quarter of 2018 and at least twenty supermarkets should open their doors in the next five years.
“The introduction of Spar to Cyprus provides the leading independent retailers of Cyprus the possibility to respond to growing market concentration in Cyprus of national and international chains, whilst meeting the needs of both local and international tourist shoppers”, said Tobias Wasmuht, managing director of Spar International.
“Whilst we will benefit from the Spar global network and support services, we will not lose sight of our need to strengthen local manufacturers, distributors and retailers, giving back to our local economy. This new partnership with Spar is the perfect opportunity to achieve this vision and we are very confident in this new venture”, Ermes’ Marios Shacolas added.
