Vasilis Fourlis said the Fourlis Group was entering a new phase of growth, with boosting profitability and improving operational efficiency as its main priorities, as he opened the Investor Day, which is under way.
The group’s chairman placed particular emphasis on the new operating model introduced at the start of the year, saying its goals were to reduce operating costs, improve customer service and create greater value for the group.
“The new operating model will make us more cost-efficient, allow us to focus more on customer satisfaction and create greater value and profitability,” he said.
He explained that the changes were not limited to the organisational structure, but affected the way the company operates as a whole.
“This is not just another project. It is a complete transformation of the way we think, our culture and how the group generates sales, delivers the customer experience and achieves profitability,” he stressed.
He noted that the initiative had the full support of the board and the group’s 5,000 employees.
Referring to moves made in recent years, Vasilis Fourlis highlighted the two strategic partnerships established in sports retail and wellness, as well as the development of Trade Estates.
He described Trade Estates as an important part of the group’s portfolio, both strategically and for its contribution to cash flow generation.
“Trade Estates is a valuable part of our portfolio, both in strategic terms and in terms of cash flow generation,” he said.
According to Mr Fourlis, these moves form part of the transformation the group has carried out in recent years, adapting its activities to new market conditions.
Vasilis Fourlis also referred to the group’s 75-year history, noting that few companies manage to sustain their presence through successive economic crises, generational change and periods of intense uncertainty.
“The willingness and ability to change and adapt are embedded in our DNA,” he said, adding that this ability was one of the group’s most important competitive advantages.
“For at least the past 50 years, we have completely transformed the group and adapted to market conditions, weathering difficult periods too,” he said.