PLANS FOR ATTICA BY LAMBROS PAPACONSTANTINOU’S TEAM
The management of Ideal Holdings is setting ambitious goals for Attica this year. Specifically, sales at Attica department stores are projected to grow at a modest single-digit rate, like the pace seen in the second quarter of 2024. The company aims to finalize its renovation and CAPEX initiatives while continuing to enhance front-end systems to improve personalization and expand its e-commerce focus, particularly in fashion. Additionally, marketing and PR efforts will be intensified to celebrate Attica’s 20th anniversary.
Notably, management plans to increase the workforce to ensure the delivery of high-quality services. The strategy for 2025-2028 includes expanding the brand portfolio with more premium, contemporary designer, and luxury labels. Lastly, the company will introduce a new CRM and loyalty platform while expanding both physical and digital sales channels.
23.6% INCREASE IN TAX-FREE SALES
Looking ahead to 2024, revenues are expected to rise by 9%, reaching €231.9 million, driven by the maturation of the investment plan, which includes the expansion of the City Link store and the refurbishment of the Golden Hall store. Sales per square meter saw an 8% increase, from €3,100 in 2023 to €3,300.
Moreover, significant growth in e-commerce sales was noted, attributed to the gradual introduction of new fashion-related brands. Tax-Free sales to international travelers surged by 23.6% across all department stores, now accounting for 9.5% of total revenue.
Author: Ioanna Dragona
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