easyJet founder flies into grocery sector with food for 25p
Sir Stelios Haji-Ioannou believes there is a gap in the current retail food market, "a niche below some of the current budget operators such as Aldi and Lidl"
Print3 February 2016
Not content with mastering the world of budget airlines, easyJet founder, Sir Stelios Haji-Ioannou has now entered the budget grocery arena.
The easyFoodstore launched yesterday in north London, with all items priced at just 25 pence each for the month of February.
The grocery newcomer has said prices will eventually rise in March, probably to around 50p per item. However its current plan is to launch a new “easy” branded player that sits in between food banks and discount retailers.
With a streamlined range of just 76 products available on its shelves, a shopper could actually buy all of the goods on offer for less than £20.
The easyJet founder decided to begin his new operation in London’s zone three, after spying a gap in the food retail market, “a niche below some of the current budget operators such as Aldi and Lidl”.
Back in 2013, Sir Stelios said his interest in the food retail market was sparked by the widespread use of food banks in the UK as well his philanthropic foundations operations in Greece and Cyprus, where free lunchtime snacks are handed out to the needy.
Commenting on the new venture, Connor Campbell, a senior market analyst at www.spreadex.com said: “Whilst the launch of EasyFoodStore may suggest a fresh rival for Aldi and Lidl has appeared, the venture will have a long way to go before it can match the relationship the German pair have with their suppliers, especially since the new store is offering food at alarmingly low prices.”
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