Zeus Street Greek Sets Sights on Aggressive National Expansion as Revenue Nears $120 Million

Zeus Street Greek is gearing up for its most ambitious growth phase yet, with plans to expand from its current 45 stores to 150 locations by 2030, marking one of Australia’s largest roll-outs in the fast-casual dining sector.

The Greek-Mediterranean chain already has agreements that will bring its network to 75 stores within two years, and internal projections show Zeus Street Greek will surpass $120 million in annualised revenue once it opens its 50th store early next year.

Co-founder Costa Anastasiadis, who previously co-created Crust Pizza before its $41 million sale to Retail Food Group, says the long-term vision is even bigger:

“In five years’ time we will have 150 stores. Beyond that, we believe there is an opportunity for a 300 to 400-store network across Australia in the next 10 years. We are the only QSR Greek Mediterranean offering at scale in the country.”

Currently, 30% of Zeus Street Greek locations are company-owned.

11 Years of Planning Behind “Overnight” Success

While many Australians are only discovering the brand amid its flurry of new store launches and a new collaboration with Stryda Beer and tennis star Nick Kyrgios, the foundations for this expansion began more than a decade ago.

Anastasiadis launched Zeus Street Greek in 2014, initially believing he could repeat Crust’s rapid scaling with a hybrid “fresh casual” model focused on high-street sites. But the arrival of Uber Eats in 2016 forced a dramatic strategic rethink.

“The landscape shifted drastically,” he said. “Adapting to delivery, to consumer needs, and to new location strategies became crucial. We realised the elevated quick-service restaurant category was where we needed to be.”

A Flexible Model for a Tough Hospitality Climate

Today, Zeus Street Greek is jointly owned by Costa Anastasiadis, his brother Terry Anastasiadis, and former Crust supply chain head Peter Koutsovasilis. The group is led by CEO Ramon Castillo, who previously served as a regional general manager at Grill’d.

To withstand hospitality’s notoriously tight margins, they have developed an adaptable store model that includes:

• high-street restaurants
• compact 50m² kiosk formats
• shopping-centre dining precinct stores
• small-format builds requiring far less capital expenditure

The brand has also branched into retail with 15 grocery products available in 800 Woolworths stores, boosting national recognition beyond its physical footprint.

“Hospitality is ruthless,” Anastasiadis said. “We had to build a model that stays profitable, keeps our culture strong, and doesn’t cost $1.5 million per store to build.”

Source AFR.com