In 2023, the company’s turnover exceeded 1 billion euros, marking an increase of over 16%, mainly due to the performance in the Aegean islands, Corfu, but also its strategic development plan.
This year, the company is recording a growth rate of 7.5%.
Opening of a large supermarket in Corfu
Masoutis claims a leading position on the island of Corfu with more than double the number of stores compared to the competition.
In 2022, the company added 18 new Masoutis stores to its network while the opening of the largest supermarket in Corfu took place on Saturday, April 20.
At the same time, according to the management, the creation of the chain’s first cash & carry in Corfu is underway, which will be inaugurated within 2025 and will increase the company’s total number of cash & carry to 25.
The company’s next stop is Lefkada, with the opening of a store on a privately-owned plot in 2025, while the management continues to examine the Peloponnese market.
Investments of 25 million euros for renovations and opening of new stores
Masoutis’ investment program continues unabated. This year, investments of 25 million euros are planned for renovations and the opening of new stores.
Establishment of a real estate development company
According to the president and managing director of Masoutis SA, Yannis Masoutis, the next goal is to create a real estate development company, as the Group owns approximately 100 properties worth more than 250 million euros.
Expansion to Franchise
Taking another step towards the strengthening of its presence in organized food retail, the company is planning to expand its business through Franchise with 19 stores starting from Northern Greece.
New stores in Attica
Masoutis’ organic growth plan for 2024 also includes new stores in Attica, starting with three super markets in Nea Smyrni, Chalkida and Treis Gefyres.
