Fourlis Group: Creating a new retail group model

Fourlis Group is evolving into a new retail group model, with management accelerating its transformation and pursuing a dual strategy for its commercial operations, combining rationalisation with a balance between growth and disciplined network optimisation to support long-term profitability.

During a briefing for analysts held as part of the announcement of the group’s first-half financial results, Chairman Vassilis Fourlis focused on the architecture of the transformation, describing a technologically advanced, agile, state-of-the-art retail platform capable of converting the Fourlis Group’s growth potential, through the management of its commercial brands, into profitability across its entire geographic footprint.

Focus on IKEA Ellinikon and next-generation small IKEA stores – Foot Locker takes the lead

Regarding the group’s purely commercial operations, Fourlis made particular reference to the current difficult and uncertain economic environment and consumers’ financial pressures. He nevertheless highlighted the resilience shown by the brands managed by Fourlis and consumers’ trust in them.

As he said, the group is investing in the new large IKEA store at Ellinikon, scheduled to open in 2029, which will become the chain’s next flagship store. At the same time, it is placing particular emphasis on expanding the new generation of smaller IKEA stores in Greece’s regions and smaller cities. The sporting goods segment also holds a prominent position in the growth strategy, posting strong performance, led by the expansion of the Foot Locker network.

The group is also moving ahead with the closure of underperforming stores, mainly in the Romanian market, which is facing strong economic pressures. Regarding the Holland & Barrett wellness products business, management said it had completed the agreement with DrP, with the final signatures being put in place two days ago, paving the way for a new commercial direction for the business, including through the use of the pharmacy network.

It is worth noting that InterIKEA’s new Distribution Centre became operational after being completed in July 2026, with activity gradually ramping up in the second half of the year.

Acceleration and focus

Outlining Fourlis’ strategy in greater detail, Group CEO Yiannis Vasilakos referred to strong commercial momentum alongside an acceleration of structural initiatives aimed at boosting profitability and operating leverage.

He noted that most of the costs associated with the transformation and reorganisation are expected to be incurred in the second half of 2026, with strong recurring benefits of more than 9 million euros from 2027 onwards.

“We are doing what we promised in our previous briefings, and in fact we have accelerated the pace of the group’s transformation, completing significant stages earlier than originally planned, which is reflected in the targeted benefits,” Vasilakos said.

Total capital expenditure in the first half of 2026 amounted to 12 million euros, of which 4.4 million euros related to network expansion, 2.5 million euros was invested in digital transformation initiatives and 2.8 million euros in investments in the InterIKEA Distribution Centre.

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