For two decades already, company Veropoulos has been known on our market for its unique offer and high-quality products at promotional prices, but also for the excellent customer experience it provides
Nikos Veropoulos was considered a risk taker when in 2001 decided to buy an expensive piece of land in Novi Beograd and built a big supermarket . But this bold move was the start of a success story . When we asked Mr Veropoulos why he decided to enter in Serbia so early he replayed that he had a strong feeling that he made the right move at the right time at the right country.
Veropoulos was one of the first foreign investors in Serbia. You purchased land in 2001 and thus began operations in Serbia. Did you believe that our country was the right place for investment?
— I think we were probably the first foreign retailer to buy land in Belgrade for a major store. Yes, that was in 2001. I had no doubt that investment in Belgrade would be an immediate success. I took a calculated risk that I knew, inside me, was really no risk.
You gradually integrated Jumbo into Super Vero. Is the combining of these two brands yielding good results?
— Super Vero has been a success for decades. It was at the end of 2016 that we introduced Jumbo to the Serbian market. The combination of the two is loved by our customers, as it satisfies a lot of the basic needs of most families.
Veropoulos is known on the Serbian market for its unique range, high-quality products at promotional prices and excellent customer experience. Is this your winning combination?
— The key to success is the overall experience as a daily routine. Starting from parking at the store, finding our great assortment, good quality at affordable prices, propositions for all family budgets, our comfortable store layout and good service. Ever more customers are realising that our regular prices are better compared to our main competitors.
We achieved sales in Serbia of €80,000,000 (with VAT) in 2023, which was an increase of 35.3%… We expect the value of our profits to increase by 12% this year
Also, more of our customers who use our loyalty card regularly are benefiting from money returning to their wallet in the form of coupons. These coupons can be used in their next purchase. The value of the coupons that we returned to our customers in 2023 totalled 84,100,000 RSD.
You opened Novi Sad’s first hypermarket in late 2022, covering an area of 10,000 square metres. How were you received by the people of Vojvodina’s provincial capital?
— That was a big risk that we took because it has been a very big investment, but we felt strong enough to take that risk. I am very happy with this store. Is at a prime location with easy access from the main boulevard and very comfortable parking. This store is our most advanced design.
The good thing is that our customers find the store great, and they fill up the parking area. It is at its busiest in the afternoons and on weekends. Of the 10,000m2 sales area, 3,000 is reserved for Vero and 7,000 for Jumbo.
This Jumbo is by far the best Jumbo in Serbia. You will be surprised by the fantastic range of products – even I’m surprised every time I visit the store.
Is it accurate to say that the past year was exceptional for you and that you broke all records since the arrival of your company in Serbia? Have you increased your turnover, number of customers, profitability, market share etc.?
— We achieved sales in Serbia of €80,000,000 (with VAT) in 2023, which was an increase of 35.3%. In total, our Group (North Macedonia and Serbia) reached sales of €174,600,000 and that is a total increase of 19 %.
Ever more customers are realising that our regular prices are better compared to our main competitors, and ever more customers are regularly using our loyalty card
We expect the value of our profits to increase by 12% this year. Our asset value exceeds €100,000,000 and our loan obligations towards banks will be less than €4,500,000 by March 2024.
Yes, we have a very stable performance today, we employ 1,700 employees in both countries.
The Paralympic Games will be held in Paris this year. Will your Company once again sponsor the Paralympic Committee of Serbia and our Paralympians?
— Yes, we are one of the main sponsors of the Serbian Paralympic team and will continue to support the team.
The retail sector has faced numerous challenges over recent years – from the pandemic to the energy crisis and inflation. Are you hoping for better days?
— One of the main pillars of our strategy is to try to have an operation with low energy costs. It is for this reason that we continuously invest in the latest technology and equipment, regular maintenance and store design which take advantage of sunlight and geothermal energy.
