The deal aims 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.
Significant growth
According to the announcement, this development marks a significant development of the Group, which already consists of well-known brands such as IKEA, INTERSPORT and HOLLAND & BARRETT, and operate through franchise and licensing agreements in Greece, Cyprus, Bulgaria and Romania.
Acquisitions in Greece and Romania
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 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.
Strategic initiatives
This is a series of strategic initiatives of the Fourlis Group, with the aim of expanding its activities in the sports industry, 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 euros until 2026.
It is noted that the style & fashion category is the most attractive of the sector, representing almost 50% of the market with Gen-Z constituting the largest buying audience, contributing to 30% of the total sporting goods market.
