FOURLIS HOLDINGS S.A.

 

 

History Timeline

 


1950's


The Group dates back to 1950 with the founding of A. Fourlis & CO. O.E. by Anastasios Fourlis, with whom the other three Foulis brothers, Stelios, Yannis and Ilias, began a close cooperation shortly after.

Initially the company imports and sells electrival appliances from Germany, having secured the exclusive representation of leading postwar branded products, such as Junker & Ruh stoves, fan heaters and Kitchen exhaust fans, Linde electric refrigerators and Erres radios.

 


1960's


In 1965 the company becomes the exclusive distributor of all American-made kitchen exhaust fans. In April 1967 it undertakes to import, assemble and distribute RCA and Westinghouse television sets as well as to assemble TV sets for third parties at the company's plant on Piraeus street.    

 At the same time it undertakes the distribution of Philco washing-machines.

In 1968, the company is renamed FOURLIS BROS. AEBE and joins the ranks of manufacturers with the introduction of an exhaust fan line which establishes it as a market leader, a position the company maintains to date.


1970's


In 1973, FOURLIS BROS. moves from central Athens to new company-owned facilities located near the 17 km mark on the Athens- Lamia highway. A year later, the company's manufacturing plant is relocated to a neighboring property, where the assembly of TV sets and production of exhaust fans continues unabated. 

1975 is yet another milestone year in the company's history marked by an exclusive representation agreement with General Electric regarding home appliances.

Τhree years later, in 1978, the company contracted to assemble and distribute Telefunken TV sets.


1980's


During its fourth decade, FOURLIS BROS. becomes a thriving concern, ranking among the 10 most profitable companies in Greece.

In 1982, the company introduces the NEFF line of home appliances, quickly gaining a leading position in the built-in appliances market. During the same year, due to intense Far-Eastern competition, the assembly of TV sets is discontinued.

In April 1988, anticipating the rapid growth of the Greek stock market, the company's management successfully lists the company on the Athens Stock Exchange.


1990's


The company's fifth decade is a period of rapid expansion into new market sectors. In January 1993, anticipating the growing strength of the retail market and capitalizing on its potential, the company acquires 51% of P. Kotsovolos AEBE, the leading chain of home appliance stores in Greece.

In 1996, favorable political reforms in Eastern Europe facilitate the company's foreign expansion strategy and lead to the establishment of two wholesale appliance subsidiaries, Genco Romania SRL and Genco Bulgaria. In 1997, the company launches One Way Technostores AEBE, a retail computer and mobile telephony store chain. In March 1998, TLF Electroline Ltd. is founded in Cyprus and soon becomes the island's leading wholesale and retail home-appliance company. In May 1998, FOURLIS BROS. completes the acquisition of Radio Athine AEBETE, the third largest electric appliance chain in Greece, while in August it penetrates the Chech market by acquiring Europe Technic SPOL SRO, the country's second largest retail appliance outlet chain, and by founding Genco Chech Ltd.,a wholesale subsidiary.

Intarget S.A. is founded at the end of 1998, focusing on Internet-based business solutions

At the end of 1999, the FOURLIS Group concludes a franchise agreement with Swedish IKEA, regarding home furnishings and appliances for the Greek market.

At the same time, the company undertakes the exclusive representation in Greece of Intersport, the world's largest sporting goods chain. Another milestone was reached with the decision to spin off the company's commercial and industrial operations (incorporating them into the newly formed FOURLIS TRADE), converting, as of 1/1/2000, the parent enterprise into a holding company able to further develop operational synergies between Group members.

 


2000's


In 2000 FOURLIS Group completed 50 years of creative activity. In the 2000 the final company's structure is formed and the parent company FOURLIS HOLDINGS SA controls a significant number of subsidiaries.

The GROUP's basic activity is to develop wholesale and retail network of selling consumer goods. Among these goods are electrical household appliances, electronic products, telecommunications equipment, clothing, furniture and other household accessories.

The new activities in the fields of household equipment represented by IKEA and that of athletic goods represented by INTERPSORT are also of great importance to the Group. In 2001 the first IKEA store in Thessaloniki opened its doors to Greek consumers. In April 2004, the first IKEA store opened in Athens in the retail park of the Athens International Airport. The subsidiary company INTERSPORT ATHLETICS S.A. completed the first phase of commercial development plan with 14 stores while at the end of 2005 24 stores in Greece and Romania are operating.

FOURLIS TRADE SA and EUROELECTRONICS SA, the subsidiaries in the field of electric and electronic products also had a very positive course and the brands they represent such as Samsung, General Electric, Ariston, Korting etc continue to improve their market share.

In July 2004 negotiations with the DIXONS Group were concluded for the sale of the company P. Kotsovolos S.A. (Kotsovolos)

For the first time at the end of 2005, retail sales accounted for more than 50% of Group sales. This tendency will continue due to the rapid growth of IKEA and Intersport. 

The Group proceeded with the restructuring of Fourlis Holdings S.A. in 2007, with the purpose of achieving more effective operation and rationalising corporate governance. The result was to separate the position of Executive Chairman from that of Managing Director, in line with the practice currently followed by most international companies.

In 2007, the inauguration of the first IKEA store in Nicosia took place while the second IKEA store in Athens and fourth in total was opened on 26 March 2008. In October 2009 the new IKEA store in Larissa opened its doors and by the end of the decade in 2010, FOURLIS Group added a new IKEA store in Ioannina (Greece).

The development of the store network of INTERSPORT stores continued and by the end of the decade 55 stores operated in total (33 in Greece, 16 in Romania, 4 in Bulgaria and 2 in Cyprus).

 

 

 


2011 - 2018


This is the period where the consequences of the financial crisis are escalating and the impact to consumer spendings are immediate. Despite the escalation of the recession, FOURLIS Group with the effective management of operating expenses and assurement of the financial resources for targeted investments funding not only in Greece but also in foreign countries is confronting the adverse consequences.

In September 2011, the operation of the first IKEA store in Sofia, Bulgaria began while in 2012 the first pick-up point opened in Rhodes.

In 2013 and 2014, four new IKEA Pick Up Points added in the greek network (Patras, Chania, Heraklion and Komotini) and 19 new Intersport stores opened. The Group proceeded to an agreement for obtaining the franchise rights for developing a store network of  "The Athlete's Foot" in Greece and Turkey.

Finally, during 2014 the dinvestment from the wholesale was concluded.

Today, the retail network of the Group consists from seven IKEA stores, 5 of them in Greece, one in Cyprus and one in Sofia, Bulgaria. Also seven IKEA Pick-Up Points are operating (Rhodes, Patras, Chania, Heraklion, Komotini) and from July 2015, a new one in Varna, Bulgaria and one in Burgas that opened in October 2016. Finally the IKEA e-commerce stores are fully operational in all three countries (Greece, Cyprus, Bulgaria).

Furthermore, 114 Intersport stores are operating (50 in Greeece, 29 in Romania, 24 in Turkey, 7 in Bulgaria and 4 in Cyprus) and 14 The Athlete's Foot stores stores are operating (12 in Greece and 2 in Turkey).

 


 

 

 
    Contact Us
  • Telephone: +30 210 629-3000
  • Email: info@fourlis.gr
  • Address: 18-20 Sorou Str.
    Building Α', Maroussi, GR-15125, Athens
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