Its intention to proceed with acquisitions by the end of the year, accelerate international growth, and leverage its real estate portfolio, the Fais Group management announced during the annual general meeting of shareholders held earlier on Monday morning.
“We are reviewing various projects. No agreement has been reached yet, but many discussions are underway,” said Sami Fais, adding, “We are looking at potential acquisitions with companies in the sector by the end of the year.”
He noted that there are opportunities in tourism and, in this context, the group plans to develop and utilize a 170-stremma plot of land it owns in Agia Pelagia, Crete, with the potential to build a 30,000-square-meter hotel. The design and permitting process is expected to be completed within the next 18 months, while construction is set to begin in 2028 and be completed in 2030, according to management.
The group’s priorities remain the expansion of its brand portfolio and international growth, with a particular focus on KIKO Milano. At the same time, the group is expanding into health and wellness-related activities. “We’re not just focused on fashion and retail. The market related to living longer and better is experiencing impressive growth internationally. We entered this market last year and expect significant growth in Greece as well,” said Ms. Lucy Fais.
Regarding the Elliniko project, management reiterated its interest in opening stores within the commercial developments. As for the impact on the group from the closure of the Notos department store in Omonia, management noted that the impact on the group is limited, as the strong growth of the brands themselves more than offsets the loss of related sales. The FAIS Group holds a 6% stake in Notos.
Referring to the tender for Vouliagmeni Beach, Sami Fais said that the group submitted a bid of 4 million euros but lost the contract by a margin of just 200,000 euros, as he noted.
For his part, the group’s general manager, Hasdai Kapon, said that the share price is undervalued, a matter of concern for management, while noting that it is only a matter of time before the Stock Exchange recognizes the value of this effort.
He said that investments this year will reach 6 million euros, citing the expansion in the Czech Republic, the expansion of the KIKO Milano network, the new Kalogirou store in Mykonos set to open this weekend, the expansion of the Charalas store in Kolonaki, and new investments in the network.
Regarding the current fiscal year’s performance, management expressed optimism, noting that the first half is proceeding in line with targets. Retail sales have increased by 13%, while wholesale sales are progressing according to budget.
Regarding the sporting goods sector, Mr. Hasdai Kapon said that the market is undergoing a phase of consolidation. “What’s happening in this market is that various small retailers are closing their stores because the market is shifting toward the larger players. This affects us as well, but we have not observed any significant change in our own situation. If anything, this increased consolidation is leading to market rationalization,” he said.
The general meeting, with a quorum of 77.78%, approved the distribution of a dividend for the 2025 fiscal year totaling 7.084 million euros, or 0.125 euros per share. The ex-dividend date will be July 6, the record date is July 7, and dividend payments will begin on July 30.
At the same time, a scrip dividend program was approved, through which shareholders will have the option to reinvest up to 50% of their gross dividend by acquiring new shares instead of cash. The maximum amount that can be reinvested is 3.54 million euros, with the aim of maintaining strong liquidity to finance investments and working capital needs.
The meeting also approved the capitalization of 5.02 million euros from the “Share Premium” reserve, with a simultaneous reduction of the share capital by the same amount, so that the corresponding amount may be returned to shareholders in cash as a capital refund.