Carrefour Marinopoulos S.A.
The leading power of supermarkets is spreading in the Balkans
The beginning of the business history of the Marinopoulos family is linked with the pharmaceutical sector, but today the group is widely known for its intense involvement in the retail sector, specifically in the field of supermarkets, especially after joining forces with the French company CARREFOUR. CARREFOUR MARINOPOULOS has now surpassed the Greek borders by opening stores in Bulgaria and Cyprus.
MARINOPOULOS Group is considered one of the most internationalized Greek groups. It operates in 10 countries in Central and South Eastern Europe, including the Balkan countries, through strategic alliances with the companies CARREFOUR, STARBUCKS, SEPHORA (a part of LVMH), GAP and GRAND OPTICAL.
In the supermarket sector, the family holds 50% of the joint venture with CARREFOUR which operates the chain CARREFOUR - MARINOPOULOS, although the management is mainly controlled by the French partner.
The activity of the Marinopoulos family in the country’s business affairs is spread over three centuries. It began in the late 19th century and continues until today. Specifically, in November 1893, Dimitris Marinopoulos from Eliki Egialias founded the first MARINOPOULOS pharmacy in Neapoli, Athens. Since then the group grew and, while the first significant move was the creation of FAMAR, it developed rapidly in the ‘70s and ‘80s with the famous supermarket chain PRISUNIC MARINOPOULOS. Thereafter, it cooperated with the company CONTINENT / PROMODES and imported the idea of Hypermarkets in Greece; after various mergers on international level, the current coalition of CARREFOUR - MARINOPOULOS came about.
In 2010 the company acquired 100% of the shares of DIA HELLAS SA with a sum of approximately 120 million euros; DIA had 381 outlets of which 126 were operating through franchise. In the same fiscal year, there began the conversion of those stores to CARREFOUR MARINOPOULOS and CARREFOUR EXPRESS.
On 31.12.2010, the company operated a total of 522 stores of which 245 (31 Hypermarkets, 203 supermarkets and 11 CARREFOUR EXPRESS) were owned and 277 (27 Supermarkets, 61 CARREFOUR EXPRESS, 89 OK ANY TIME MARKETS and 100 SMILE) operated through FRANCHISE.
Abroad, and specifically in Cyprus, the company operates through its subsidiary GUEDO HOLDING and in Bulgaria through the company HOLDING CM BALKANS BV. In Cyprus in 2010, the network consisted of 7 hypermarkets CARREFOUR and 8 supermarkets CARREFOUR EXPRESS. In Bulgaria, the chain has 5 hypermarkets.
Today the group is managed by the third generation -the four cousins, children of John and Dimitris Marinopoulos, confirming once again the important role of the family.
Turnover in 2010 amounted to 1.88 billion euros versus 1.93 in 2009 while the group recorded a loss of 85 million.
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