Sportswind, the company of the Fais Group, which is the exclusive representative of Puma for Greece, Cyprus, and Bulgaria, grew by 19% in the first half of the year.

The management's goal for this year is strong turnover growth. As noted in the financial statements, "following the very successful performance of the new Puma store in the Mediterranean Cosmos shopping centre in Thessaloniki, the new Puma flagship store opened in Glyfada in 2024, and a new store is planned to open in The Mall of Athens in early 2025".

Levi's and mango

Furthermore, 2024 marked the launch of exclusive distribution for the Levi's brand in Greece and Cyprus "adding another strong and internationally recognised brand to the company's portfolio". We recall that Sportswind is also the master franchisee of the Spanish brand Mango and operates four stores in. The corresponding price for Sportswind amounted to € 3.3 million. Also, on 25/7/2024, the company completed the sale of its investment to Blih Ltd, which resulted in a gain of € 19.4 thousand.

THE IMAGE OF 2023

During the last year, the company continued its domestic growth, aiming to expand and improve its products and services. The company reported a 15% increase in sales, to €46 million. All of the company's brands showed an increase in sales, namely: 

• Mango: 23% 
• Puma (wholesale): 5%
• New Era: 62%

Also, gross margin fell to 36% compared to 41% in 2022. The decline was due to advertising costs, incorporated in the cost of merchandise purchases of the Puma brand. This resulted in the company's EBITDA falling to €5.82 million, while profit after tax for the year fell by more than 50% to €1.4 million