EasyJet founder Sir Stelios Haji-Ioannou is hoping to do to supermarkets what he has done for the aeroplane industry with his new venture: easyFoodstore.
The budget grocery shop has opened its doors in Royal Park West, just off the North Circular, offering a range of 76 dried and packaged foods for just 25p.
Customers can buy everything from chicken curry, coffee and fairy cakes at the standard price of 25p. That means you could buy every product in the store for less than £20.
Pictures of shoppers at the easyFoodstore have already appeared online, showing no frills industrial shelving in the trademark Easyjet orange and Best-in basic products stacked in bulk.
Sir Stelios said he spotted a gap in the market for an outlet that sells food for lower prices than discount supermarkets Lidl and Aldi. The two German outlets have caused a supermarket price war in the UK as bigger, more established grocers fight for customers by slashing prices.
EasyFoodstore aims to be cheaper than them all with its "limited and basic range of items at rock-bottom prices". Its slogan is: "No expensive brands. Just food honestly priced."
“This is another way the easy brand can serve the less well-off. Given my experience in distributing food for free in Greece and Cyprus, this is a more commercial attempt to sell basic food for 25p per item to those less well-off in the Park Royal area," Sir Stelios said.
But there's a catch.
The low 25p price point is only for the month of February. After that, prices rise will rise "most probably to about 50p", the store says on its website.
EasyFoodstore gets its cheap goods from Euro Shopper, a brand of the Dutch non-profit buying alliance AMS.
The following items are all being offered for 25p in February:
Pasta Mushroom Sauce
Sardines and Sauce
Variety Pack Cereal
Sardines in Oil
Cut Green Beans
Mini Cheese Thins
Noodle Snack Curry
Red Kidney Beans
Salt & Vinegar Sticks
Rice Long Grain
Chilli con carne
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