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Investment of € 50 million in Public by the Olympia Group

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Investment of € 50 million in Public by the Olympia Group

Olympia Group today announces an investment of € 50 million in the new Public Group with the aim of accelerating its development and investment plan. Based on the investment, the Olympia Group will now own 98% of the Public- MediaMarkt joint venture in Greece and Cyprus, while MediaSaturnHolding will remain a 2% shareholder.

Public's organic growth will be accelerated by the expansion of the product mix in the integrated network of 70 physical stores, in the innovative e-Commerce platform, but also in the specialized Marketplace that operates. After two years of close cooperation, the Public leverages the experience of MediaMarkt, to provide a complete proposal in the field of household appliances, in addition to culture and technology options. In the coming years, the company will bring to market a number of additional digital services that will enhance the experience and value that the Public brand brings to the market of Greece and Cyprus.

The € 50 million investment of the Olympia Group will support the new strategy of Public that has been developed after a thorough research on the best practices of the big omnichannel retailers, in Europe and America. Always focusing on the customer, this strategy will be implemented through a number of important Public initiatives, such as:

The launch of new Public concept stores that combine shopping with entertainment in impressive, modern and consumer-friendly spaces, for a comfortable and even more exciting shopping experience, with options at the most competitive prices.

The presentation by Public of innovative, digital interfaces focusing on the exceptional experience of the customer, giving him access to countless product options, regardless of the location or the way he chooses to make his purchases.

The combination of the best offer that Public stores bring to the market with the most modern e-commerce platform in order to offer consumers the best omnichannel experience.

The creation of one of the largest and most modern logistics centers with the expansion of the current facility and the strengthening of the company's transport fleet. The goal is to significantly improve the speed of processing deliveries throughout Greece, as well as investments in new opportunities for consumers for delivery on the same day, late afternoon or Saturday.

Utilization of the most modern software solutions and tools of artificial intelligence in the call center of the company, aiming at the best customer service experience through the digitization of transactions and the support of 24/7 service, as well as the drastic reduction of waiting times, in combination by improving the response rate.

The investment will be used to attract, train and develop talent, but also to launch an in-house team of 100 specialized tech experts and software developers that will focus on developing applications and solutions to enhance the shopping experience, focusing on consumer needs in Greece and Cyprus.

Public also looks forward to building even stronger relationships with its suppliers and partners with the goal of further enriching the in-store experience and enhancing consumer access to state-of-the-art technology, culture, and home appliances.

With the Public brand as an investment flagship, the Public Group is created to support an ecosystem of strategic partnerships and investment initiatives – such as investing in Douleutaras – with the goal of constantly bringing consumers exciting new offerings and innovative services, both online and offline. as well as in physical stores and the house.

“Olympia Group remains faithful to its commitment to support the development of its companies and to strengthen them so that they can become leaders in their field. Today's investment of the Olympia Group in Public is another recognition of our commitment to bring the greatest possible variety, the most competitive prices and unique services to our consumers in Greece and Cyprus. Thanks to its people but also to its timeless emphasis on innovation, Public is now recognized as a unique and much loved brand by consumers. Today, we renew our commitment to offer innovation and value to all Public's customers “, said Giannis Karagiannis , Executive President of the Olympia Group .

“We welcome this important investment of the Olympia Group, which will once again highlight Public at the forefront of the retail market in Greece and Cyprus. With the new investment, the leading omnichannel retailer on the market becomes larger, ready to meet the modern needs of consumers. With a unique combination of culture products, technology and home appliances, but also new innovative services, we take full advantage of the synergies from the merger with MediaMarkt “, added Robbie Bourlas, CEO of the newly established Public Group .

Source: www.philenews.com

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