Spar International has announced that it is partnering with Cypriot retailer Ermes Group to introduce the Spar brand across Cyprus next year.
Spar Cyprus will focus on opening company owned food retail outlets, but it is also seeking to partner with independent retailers. The first Spar stores to open in Cyprus are planned for the start of 2018, with a target of opening more than 20 supermarkets over 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.
"Unifying together as Spar Cyprus permits the progressive independent retailers of Cyprus to maintain their independence, whilst seizing the benefits of a strong international food retail brand with the scale benefits of a buying group operating on both a national and international level."
Strategic Partnership
The development of new Spar supermarkets will be facilitated through the retailer's partnership with Ermes, which is one of the leading retail companies in Cyprus. Ermes operates more than 90 stores in both Cyprus and Greece, including Debenhams, Next, Forever 21, and Tommy Hilfiger.
“The Ermes Group’s vision for the future is to maintain market leadership in Cyprus and through new strategic alliances and associations create the right framework for continued profitable growth without compromising our social responsibility," said Marios Shacolas of the Ermes Group.
"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.”
Spar currently operates 12,545 stores in 44 countries, and recently reported sales of €33.1 billion for 2016.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.
