Athens, Greece – August 29, 2024 – FOURLIS HOLDINGS S.A. (Bloomberg: FOYRK:GA - Reuters: FRLr.AT - ISIN: GRS096003009), following the announcement of Fourlis Group strategic agreement with Foot Locker dated August 28th 2024, provides additional details and clarifications regarding the future plans and expected outcomes of this collaboration.

Reflecting the dynamics of the sportswear retail market in the SE European region that is estimated to reach €3.7bn by 2026  the Group anticipates generating sales of approximately €30mil. in the first year (FY ‘25) and €100mil. by the third year (FY ‘ 27) of this partnership. Looking further ahead, in year five (FY ‘ 29), the Group projects sales to grow to €250mil., supported by the operation of 80 stores across the SE European region, including 8 e-shops across all 8 countries, that will complement Foot Locker’s physical store presence.

To achieve this expansion, the Group plans to invest approximately €40mil in capital expenditures (capex), ensuring that Foot Locker’s store network is equipped to deliver the high standards that Foot Locker customers expect.
The expansion plan will primarily be funded through the operational profitability of the Group’s retail operations, including Foot Locker’s profitability, along with the Group’s existing cash reserves, while the management is committed to further reducing the retail net debt position of the Group’s retail operations.

The Group’s long-term plan involves the rollout of 120 stores at full development, aligning with its strategic objective to capitalize on the high-growth potential of the Southeast European sportswear market.

The Group targets an EBITDA margin of 8-10% as the expansion progresses, which reflects the synergies and efficiencies that will be realized through the combined and complementary operations.

This partnership marks a significant milestone for Fourlis Group, as it strengthens its position as a leading player in the sports retail market across Southeast Europe. By leveraging its established market presence, extensive infrastructure, and deep understanding of regional dynamics, this collaboration will drive sustained growth and unlock new opportunities in the fastest-growing territory in EMEA.