The FAIS Group, a key player in the wholesale and retail sale of premium fashion brands, is set to secure fresh capital to accelerate its expansion plans.
According to Chasdai Kapone, the Group’s General Manager, during a recent informational event, FAIS Group—boasting 45 years of experience from its core shareholders and a robust portfolio featuring over 100 international brands—continues to make strategic investments in high-growth sectors. These investments are geared toward strengthening the Group’s presence in key markets and expanding its network further.
In a significant move, the Hellenic Capital Market Commission has approved the prospectus for the Initial Public Offering (IPO) of up to 9,100,500 new shares and up to 2,275,125 existing shares, which will be offered for cash with no preemptive rights for current shareholders. The shares will be listed for trading on the Athens Stock Exchange’s Regulated Market. The public offering starts today, March 19, and will close on Friday, March 21, at which point the share price will be announced. Trading is set to begin on March 27, 2025. Following the offering, the Group expects to raise approximately €53 million in net proceeds, with €42.4 million coming from the sale of new shares.
With over 1,200 employees, FAIS Group focuses on apparel, footwear, and cosmetics, and has seen impressive growth. In 2024, the Group anticipates sales to exceed €200 million, up from €191.3 million in 2023. EBITDA is projected to surpass €40 million, compared to €39 million the previous year. Notably, 83% of the Group’s revenue for the first nine months of 2024 came from Greece, with 17% generated from international markets. Looking to 2025, the Group expects an 8% increase in turnover to €215 million, with after-tax profits reaching €22 million. The share of revenue from international markets is projected to grow to 23% by 2028, driven primarily by the expansion of Kiko Milano’s international operations.
“We are maintaining steady growth rates well above inflation, driven by two factors: the continuous expansion of our portfolio of products and brands, and the strategic expansion of our retail and wholesale network into new and existing markets,” said Mr. Kapone.
The Group already has a strong presence in three countries outside Greece—Cyprus, Romania, and Bulgaria—and plans to expand further into the Czech Republic and Slovakia. FAIS Group operates in markets with a combined consumer population of around 54 million people. The Group’s extensive network includes over 110 physical stores, eight online stores, and more than 700 wholesale clients, enabling a multi-channel approach that integrates retail, wholesale, and e-commerce.
A key element of FAIS Group’s success is its long-standing relationships with over 15 internationally renowned brands. Its well-diversified portfolio consists of over 100 globally recognized historical brands, covering four sectors: apparel and footwear, cosmetics, commercial real estate, and other industries. With stores in prime locations, the Group’s extensive sales network includes monobrand, multibrand, outlet, and shop-in-shop stores. Its premium brand partners include Kalogirou, Ferragamo, TOD’S, Hogan, Michael Kors, UGG, DKNY, Levi's, Mango, Under Armour, Technogym, Wilson, Puma, Kiko Milano, and Harley Davidson.
As part of its aggressive growth strategy, the Group has invested over €30 million in the past four years (2021–9M 2024) in new stores, renovations, and real estate investments, including the renovation of the iconic Modiano Market. Looking ahead to 2030, the Group plans to open around 50 new stores both in Greece and internationally.
Simultaneously, FAIS Group is making strategic investments in commercial real estate, with notable properties such as the Radisson Blu Zaffron Resort in Santorini, the Modiano Market, and the One Salonica Outlet Mall in Thessaloniki. The Group’s real estate portfolio also includes properties in Corfu and Thessaloniki, buildings in Alimos and Vouliagmeni, storage spaces in Koropi, an industrial building in Paiania, office spaces in Nea Erythraia, a 20-hectare plot with buildings at the port of Lavrio, and a 170-hectare plot in Agia Pelagia, Crete, among others.
The Group’s ongoing success is a testament to its strong brand relationships, strategic investments, and commitment to delivering premium shopping experiences while expanding its footprint both in Greece and internationally.
