Sir Stelios Haji-Ioannou’s easyFoodstore sells groceries for 25p

The founder of easyJet has opened a discount food store that is selling everyday groceries for 25p each.

EasyFoodstore will sell a range of grocery items including pasta, biscuits and beans. Obviously the quality of the products might vary – presumably a tin of 25p chicken curry isn’t going to wow your tastebuds – but it won’t put a massive dent in your bank balance to find out.

It aims to challenge the likes of Aldi and Lidl, which have been encroaching on traditional supermarkets’ turf with their low cost, high quality proposition, by undercutting their prices.

And if it’s a success there may be a knock-on effect on the bigger chains like Tesco, Asda and Morrisons.

Back then the entrepreneur promised an average price of 50p for basic goods, aiming to be cheaper than all mainstream multiples.

Sir Stelios said: “This is another way the easy brand can serve the less well-off”.

The Greek-born tycoon is involved in food distribution in Greece and Cyprus, where free lunchtime snacks are handed out to people hit by those countries’ economic crisis.

Sir Stelios shook up the airline industry more than 20 years ago when he launched easyJet from Luton in November 1995.

“I have a feeling that 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.

A Dutch association called AMS that operate on a non-profit basis for 10 other European retailers are supplying the products to the store. The company now has almost 60 brands – from the budget hotel Easy to gyms Easygym.

Last month, Sir Stelios launched easyCoffee with an outlet in Earl’s Court offering coffee for £1.