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Fourlis: Agreement with Foot Locker for 100 stores in 8 markets

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Fourlis Group intends to acquire Foot Locker's existing store network in Greece and Romania

Fourlis: σφωνiα για 100 κα αστorματα σε 8 αγορς /></p> <p> Photo: Shutterstock </p> <p>Fourlis Holdings announced a new strategic agreement in the sportswear industry through the conclusion of licensing agreements with Foot Locker to further expand its store network and e-commerce in Southeast Europe, as well as agreements to acquire Foot Locker's operations in Greece and Romania.</p> <p>According to the relevant announcement, this development marks a significant development of the Group, which already consists of well-known brands such as IKEA, INTERSPORT and HOLLAND & BARRETT, operating through franchise and licensing agreements in Greece, Cyprus, Bulgaria and Romania.</p> <p>As part of the agreement, Fourlis Group intends to acquire Foot Locker's existing store network in Greece and Romania, which currently includes 6 stores (3 physical stores and one online store in Greece and 3 physical stores in Romania), while at the same time the Group enters into exclusive licensing agreements (licensing agreements) with Foot Locker for the development of the markets of Greece and Romania, while expanding its network through the creation of stores in 6 additional countries in Southeast Europe. Specifically, in Bulgaria, Cyprus, Slovenia, Croatia, Bosnia & Herzegovina and Montenegro. The acquisition of Foot Locker's operations in Greece and Romania is subject to certain conditions and is expected to close in the first half of 2025.</p> <p>As stated in the relevant announcement, this is a series of strategic initiatives of the Fourlis Group, with the aim of expanding its activities in the sporting goods sector, and at the same time entering new markets with a significant perspective. According to market data, South East Europe is judged to be the fastest growing region in EMEA in sports retail, experiencing double-digit growth rates over the past 3 years, and is expected to grow at a high rate, approaching €3.7 billion until 2026.</p> <p>In the sporting goods sector, the category lifestyle & fashion is the most sought-after and attractive, representing almost 50% of the market with Gen-Z being the largest buyer audience, contributing to 30% of the total sportswear market. In this context, Foot Locker has developed a specific and unique positioning that combines brand, product and marketing to effectively reach and interact with consumers, creating a unique relationship with those who love sneakers.</p> <p>Given the dynamics of the market and the opportunities it presents, the Fourlis Group creates, through this synergy, the possibility to develop more than 100 physical stores in the region, alongside 8 online stores.</p> <p>In addition, Foot Locker's leadership in the sports lifestyle and sneaker market complements the Fourlis Group's long-term focus on the sports performance market through the INTERSPORT brand, thus enabling the Group to offer a comprehensive sportswear proposition with leading global sportswear retail brands in the Southeast Europe region.</p> <p>At the same time, the Fourlis Group, utilizing its strategic advantages, strengthens this expansion through its offices in Athens, Bucharest, Sofia and Nicosia, which already manage international collaborations with brands, the announcement states. The Group's experience in the omnichannel approach in the EMEA region and in managing lifestyle sneaker concepts ensures high standards for Foot Locker stores. The state-of-the-art and fully automated logistics center in Athens efficiently serves all EU countries, supported by shared business services.</p> <p>The Group's customers, regardless of age and preferences, will thus benefit from an expanded range of high-quality sportswear and sneakers, further strengthening its commitment to meet their diverse needs and preferences, but also to improve their shopping experience, emphasizes company.</p> <p>Foot Locker's contribution to the Group's consolidated financial statements, including the Statements of Results, Balance Sheet and Cash Flows, is expected to commence within 2025, following the completion of the transactions in Greece and Romania and is currently under consideration.</p> <p>Commenting on the agreement, the Group's Chairman, Vassilis Fourlis, said: “Our current strategic move strengthens the Group's dynamics and competitive advantages in the sporting goods retail market. We leverage our expertise and established market presence, thereby creating further growth and value for our shareholders. We are committed to leveraging the complementary strengths of Foot Locker and INTERSPORT to deliver an unparalleled athletic retail experience to all consumers.”</p> <p>Mary Dillon, President & CEO of Foot Locker Inc., commented on the deal: “We are excited to partner with the Fourlis Group as we leverage their geographic footprint, extensive infrastructure and deep market knowledge to drive further growth of Foot Locker in these areas. These agreements with the Fourlis Group will allow Foot Locker to expand its global reach.”</p> <p><noindex></p> <div class=Source: www.kathimerini.com.cy

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