Attica Department Stores, a member of IDEAL Holdings and a leading operator and developer of premium department stores and retail outlets in the fashion and beauty market in Greece, as highlighted in its announcement.
Following the approval of the relevant prospectus by the Hellenic Capital Market Commission on June 17, 2026, the public offering of the company’s shares will take place from Wednesday, June 24, through Friday, June 26, 2026. Trading of the new shares on Euronext Athens is expected to begin on July 2, 2026.
Upon completion of the process, IDEAL Holdings will remain the majority shareholder, retaining an indirect 52.5% stake in the company.
Demosthenes Boumis, CEO of Attica Department Stores, stated: “Attica Department Stores has been on a path of steady growth and high profitability for more than 20 years. We are now entering a new phase with a clear strategic plan, strong cash flows, and targeted investments that further strengthen our market position, while creating value for our employees, customers, partners, and the market.
“The listing on Euronext Athens gives the broader investing public, for the first time, the opportunity to participate in this growth trajectory and in the prospects we are creating in the premium retail market—a sector with significant potential for further growth in Greece.”
Lambros Papakonstantinou, Executive Chairman of the Board of Directors of IDEAL Holdings, noted: “The listing of Attica Department Stores on Euronext Athens marks a significant milestone for the company and, at the same time, represents the natural evolution of IDEAL Holdings’ successful investment strategy. Attica Department Stores is a particularly successful investment example for IDEAL Holdings due to its strong market position, effective management team, and robust growth prospects. “As the majority shareholder, we will continue to actively support the company’s management and growth plan, consistently creating value for our shareholders.”
The lead managers are National Bank of Greece, AXIA, Eurobank, and Piraeus Bank. The underwriters are Optima, Euroxx, Pantelakis Securities, and Beta Securities. National Bank of Greece is the listing advisor. The legal advisor for the offering on matters of Greek law is the law firm Karatzas & Partners, while the specialized accounting and financial audit was conducted by the auditing firm Grant Thornton.
Attica Department Stores: A dynamic and consistently profitable track record for more than 20 years
Having already achieved remarkable success for more than two decades, Attica Department Stores combines a leading position in the industry, high growth rates, strong financial performance, a presence in iconic locations with high commercial and tourist foot traffic, long-term partnerships with leading international brands, and a continuously expanding digital presence, the company notes in its announcement.
Ongoing Investments and the 2026–2030 Strategic Development Plan
Since 2021, Attica Department Stores has been implementing the pioneering “Elevation Project” investment plan, for which it has invested 21 million euros in the last three years alone, substantially upgrading its infrastructure, retail offering, and customer experience. The 2026–2030 Strategic Development Plan calls for annual investments of 7 million euros, with the goal of further strengthening the company’s presence in the premium and luxury retail market through organic growth, expansion of its footprint, and new investments in physical and digital touchpoints.
Strong Financial Performance
According to the company, Attica Department Stores’ strong financial position is reflected in its first-quarter 2026 financial results, during which the company reported revenue growth to 53 million euros (+8%), comparable EBITDA of 3.6 million euros (+2%), and comparable earnings before taxes (EBT) of 2 million euros (+7%). The company maintains strong liquidity, with net cash and cash equivalents of 12.3 million euros (as of March 31, 2026).
On the operational front, physical stores welcomed 1.6 million visitors during the first quarter, while the attica e-shop, benefiting from the continuous expansion of its product range, recorded an impressive 40% increase in revenue.
Operating in a Market with Strong Prospects
Attica Department Stores operates in an industry that offers significant potential for further growth. The continued growth of high-value tourism, the transformation of Athens and Thessaloniki into premium and luxury destinations for visitors from Southeast Europe and the Mediterranean, as well as the growing interest of international brands in establishing a presence in emerging markets, are creating a particularly favorable environment for the company’s next phase of growth.
In this context, Attica Department Stores aims to capitalize on market momentum by leveraging its strong position, recognizable brand, strategic partnerships, and proven ability to generate consistent growth and profitability.
Listing on Euronext Athens: Further Strategic Growth and Business Maturity
The listing on Euronext Athens elevates the company’s operations, strengthens transparency and corporate governance, and offers greater managerial flexibility. Access to capital markets also creates significant opportunities to finance future investments, organic growth, technological upgrades, and business expansion, while at the same time making the company an even more attractive partner for collaborations and new business initiatives, the announcement concludes.