Outside the Turkish market, after 12 years, it is now Furli Groupsince yesterday he announced his agreement to sell his activities Intersport to a neighbor. The agreement provides for the sale of all shares in Intersport’s subsidiary Atletik Magazacilik ve Dis Ticaret Anonim Sirketi, the licensor of the Intersport and The Athlete’s Foot brands in Turkey, which operates a chain of 12 stores. The buyer is the Eren Perakende ve Tekstil Anonim Sirketi group with a deal, according to an announcement published by the Fourlis group on the Athens Stock Exchange, based on an enterprise value of approximately 3 million euros.

The Eren Perakende group has been operating in Turkey for over 30 years and has Burberry, Gant, Nautica, Converse, Lacoste brands in its portfolio, as well as stores, as well as an online shopping platform.

An agreement has been announced for the sale of the Intersport business to the Eren Perakende group.

The departure of the Fourlis group from the Turkish market is not surprising. Back in November last year, commenting on the financial results for the nine months of 2022, the managing director of the group, Apostolos Petalas, said that if a strategic partner for Intersport’s activities in Turkey is not found, the Greek group will leave the Turkish market.

The group has been active in the Turkish market since February 2011, when it acquired the rights to develop the Intersport brand, and three years later, in 2014, it also acquired the rights to develop The Athlete’s Foot brand stores. In its first year it had a chain of 15 stores in Turkey, in 2020 it had 23 stores (20 Intersport and 3 The Athlete’s Foot) and in 2021 the company closed five Intersport stores. In total, after closing 12 stores in the Turkish market in nine months of 2022, the activity showed a positive pre-tax profit, while before that it was unprofitable. With the signing of the agreement, the Fourlis Group is focusing on retailing sporting goods in the countries of Greece, Romania, Bulgaria and Cyprus, currently operating a network of 106 Intersport stores, as well as online stores in all of the above countries. As a reminder, on December 30, 2022, the group also announced that it had entered into a sales and purchase agreement for The Athlete’s Foot’s retail operations in Greece with the buyer TAF Global Holding AG, a subsidiary of Arklyz Group AG, which acquired the rights to the TAF brand worldwide.