Μake us preferred on Google Dutch discount retailer Action is taking steps to enter the Greek market, setting up a local subsidiary as it prepares to expand into a country where domestic chain Jumbo is a major player in the discount retail sector.
The company has established Action Greece Single-Member Private Company, with share capital of €5 million, according to its articles of association published in Greece’s General Commercial Registry (GEMI).
The subsidiary is wholly owned by Action Holding BV, which holds all 50,000 company shares, each with a nominal value of €100. Philippe Maurice Pascal Levisse has been appointed regional director.
The company is headquartered at 26 Filellinon Street in Athens.
What Action’s Greek subsidiary is authorized to do
The company’s stated business objectives cover a broad range of retail and commercial activities. These include operating physical stores selling food and non-food products, as well as retail sales through e-commerce and other distribution channels.
Its mandate also includes purchasing, importing, exporting, wholesaling and distributing consumer goods, alongside acquiring, selling, leasing and managing real estate and commercial premises.
The articles of association also allow the company to invest in shares, bonds and other securities; establish or participate in businesses in Greece and abroad; represent Greek and foreign companies; and open branches, offices and agencies both domestically and internationally.
The establishment of the subsidiary marks a concrete step toward Action’s entry into Greece, although the company’s articles do not specify when its first stores will open.
The discount retailer behind the expansion
Founded in 1993 as a small shop in Enkhuizen, the Netherlands, Action has grown into one of Europe’s largest non-food discount retailers.
It now operates more than 3,500 stores in 14 countries, attracting an average of 22.7 million customers each week and employing more than 84,000 people.
Its stores offer a changing assortment of around 6,000 products across 14 categories. The retailer says its range focuses on quality and increasingly sustainable products.
Action operates with a largely standardized product selection across its stores, allowing it to purchase goods in large quantities and pass on savings to customers through lower prices. Around two-thirds of its products sell for less than €2.
The company’s expansion into Greece would bring a major European discount retailer into direct competition with Jumbo, the Greek chain with a strong presence across the Balkans.
