ARISTOTELIS PANTELIADIS: ALWAYS WELL-READ

The issue of price stickiness and continuous increases in retail prices is a major problem for both consumers and retailers, who are constantly facing challenges.

Aristotelis Panteliadis is a man with a deep knowledge of the industry, having been in the business world since childhood. A calm force, he proceeds with well thought-out moves, appearing restrained, but also decisive when needed, knowing that he holds the direction of a strong player, but also among strong competitors, of an industry that perhaps holds the largest piece of the Greek market. After all, as he himself had stated in an interview with THETOTALBUSINESS, “the supermarket has a de facto big contribution to the whole chain that ends up in our diet and the food we cook at home. It's the most efficient way to get all the goods we need for our home from production to our table. There is nothing more efficient than bringing together 10, 15 or 20 thousand products and having them under one roof for the customer, who sees that the hygiene and storage conditions are guaranteed, the prices are specific and they are given the opportunity to choose what they want with complete transparency. In this world where too many products are now produced, the supermarket is absolutely essential”.

LEADING THE FAMILY BUSINESS THAT HAS BECOME A POWERFUL PLAYER IN THE MOST DYNAMIC MARKET

Directly linked to the demanding world of economics and business, Aristotelis Panteliadis was born and raised in Athens, graduated from the Athens University of Economics and Business in 1989 and, while studying, had already started working in the family business. Already at the age of 33, he took over the position of CEO of METRO S.A.E.B.E., the family-owned food import business, which was created by the self-made Pantelis Panteliadis in 1976.

A milestone year in its development was 2016, when the company acquired the Veropoulos supermarket chain, through the strategic moves of Aristotle Panteliadis, the second generation, creating one of the largest retail companies in the Greek market. In January 2020, the company, through its subsidiary Mcc Best Value LTD, opened its first store outside Greece in Limassol, Cyprus, transferring the wholesale model for professionals.

Today, in total, the company has two store chains, the Metro Cash & Carry wholesale stores, with 50 outlets across the country, and the My Market retail stores, with 235 retail outlets. The company employs more than 11,000 people, making it one of the largest employers nationwide.

The Metro Group, which includes the widely known brands My market and Metro Cash & Carry, which spread their nets in retail and wholesale, respectively, owes Aristotelis Panteliadis its renewed identity, the extroversion with which it has been accompanied in recent years, and the adaptation to modern conditions, requirements and needs of the market, through well thought out and not hasty moves, knowing from proper management and creating, through the acquisition of the Veropoulos chain, the opening to franchising, but also the ongoing discussions for cooperation with e-food, and strategic moves, a single group that has significantly increased its footprint throughout Greece.

Aristotelis Panteliadis is always in the thick of things, closely follows current affairs and speaks openly about what he thinks. In later developments, in the context of briefing journalists, the head of the Metro Group, but also president of the Supermarket Association, of course placed himself on the burning issue of prices, although he appeared quite down-to-earth about the possibility of a price decalcification in organized retailing in the coming period. He did not hesitate to mention that increasing the turnover of supermarket chains is not healthy, and even pointed to lowering prices as a solution so that the public can continue to shop.

He even went on to make an important assessment, meaning that new mergers and acquisitions are expected in the supermarket sector, saying that "five years from now, I estimate that the total number of supermarkets in the country will be smaller in terms of chains. However, these fewer chains will have more stores," although he clarified that he was referring to the small and medium sized players in the industry and not the big players.

BIG PLAN FOR INVESTMENTS

Meanwhile, Aristotle Panteliadis, at the helm of the company, has laid out a strategy that includes investments totalling €280 million over the four-year period 2023-2026. This strategy mainly concerns the development of the network with new stores, specifically the creation of 100-120 new stores by 2026, the construction of a new warehouse in Aspropyrgos, as well as the development of 16 plots of land and properties, which is already on track for implementation. At the same time, the plan includes store renovation, digital transformation with new practices such as automated checkouts, the development of My Market Local, franchised convenience stores and the opening of the second Best Value store for entrepreneurs in Cyprus.

The group managed to increase turnover and profitability in 2023 and beyond by operating in a highly competitive industry and against the backdrop of various pressures and crises affecting the economy. According to a statement, consolidated net sales reached 1.590 billion, euros, up 6% year-on-year, while Mr. Metro, Aristotelis Panteliadis, has already put his investment moves on track.