Its intention to proceed with acquisitions by the end of the year, accelerate international growth, and leverage its real estate portfolio, was announced by the management of Fais Group during the regular general meeting of shareholders held earlier on Monday morning.
“We are examining various projects. There is no agreement yet, however many discussions are underway,” said Sami Fais, adding “we are looking at possible acquisitions by the end of the year with companies in the sector.”
He noted that there are opportunities in tourism and in this context the group plans to mature and utilize a 170-stremma plot it owns in Agia Pelagia, Crete, with the potential to develop a 30,000 sq.m. hotel. The study and licensing are estimated to be completed within the next 18 months, while construction will begin in 2028 and be completed in 2030, according to management.
Among the group's priorities remains the expansion of its brand portfolio and its expansion abroad, with particular emphasis on KIKO Milano. At the same time, the group is expanding into activities related to health and wellness. “We are not concerned only with fashion and retail. The market related to living longer and better is showing impressive growth internationally. We entered this market last year and expect significant growth in Greece as well,” said Ms. Lucy Fais.
Regarding the Hellinikon project, management reiterated that it is interested in developing stores in the commercial developments. As for the impact on the group from the closure of the Notos department store in Omonia, management stated that the impact on the group is limited, as the strong growth of the brands themselves more than offsets the loss of the related sales. FAIS Group maintains a 6% stake in Notos.
Sami Fais, referring to the tender for Vouliagmeni beach, said that the group submitted an offer of 4 million euros, however it lost the investment by a difference of just 200,000 euros, as he characteristically stated.
For his part, the group's general manager, Hasdai Kapon, said that the share price is undervalued, something that concerns management, while noting that it is also only a matter of time before the Stock Exchange values this effort.
He said that this year investments will reach 6 million euros, referring to the expansion in the Czech Republic, the development of the KIKO Milano network, the new Kalogirou store in Mykonos that will begin operating this weekend, the expansion of the Charalas store in Kolonaki, and new investments in the network.
Regarding the course of the current fiscal year, management appeared optimistic, noting that the first half is moving in line with targets. Retail sales are recording a 13% increase, while wholesale is developing according to budget.
Regarding the sports sector, Mr. Hasdai Kapon said that the market is in a phase of consolidation. “What is happening in this market is that various small players are closing their stores because the market is shifting to the larger players. This affects us too, but we have not identified any significant change for us. On the contrary, through this increase in concentration comes also market rationalization,” he said.
The general meeting, with a quorum of 77.78%, approved the distribution of a dividend for fiscal year 2025 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 payment will begin on July 30.
At the same time, a dividend reinvestment program (scrip dividend) was approved, through which shareholders will be able, on an optional basis, to reinvest up to 50% of their gross dividend by acquiring new shares instead of cash. The maximum amount that can be reinvested amounts to 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 reserve “Share premium difference,” with a simultaneous equal reduction of share capital, so that the corresponding amount is returned to shareholders in cash as a return of capital.