Woolworths supermarkets is an Australian supermarket or grocery store chain owned by Woolworths Limited. Founded in 1924.Woolworths along with coles forms a near duopoly of Australian supermarkets accounting for about 80% of the Australian market.Woolworths supermarkets is an Australian supermarket or grocery store chain owned by Woolworths Limited. Founded in 1924.Woolworths along with coles forms a near duopoly of Australian supermarkets accounting for about 80% of the Australian market.