Aug 4 EasyGroup Chairman Stelios Haji-Ioannou
said on Sunday he planned to open a low-cost food retail
business in Britain, easyFoodstore, aimed at undercutting prices
at German discount grocers Aldi and Lidl.
The founder of budget carrier easyJet said the
project was a "low risk experiment" to be run out of a pilot
store in south London.
"There is a gap in the food retail market - a niche below
some of the current budget operators such as Aldi and Lidl," he
said in a statement.
Set to offer basic, no-brand-name, packet and tinned foods
at lower prices, easyFoodstore could be rolled out on a wider
basis from 2014 onwards, Stelios said.
EasyGroup, Stelios' private investment vehicle, operates its
"easy" brand in several sectors including travel, leisure and
Listed by Forbes as the third most wealthy Cypriot
billionaire, Stelios is easyJet's largest single shareholder
despite being at odds with the airline since he quit its board