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Next Steps Media Strom

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Next Steps Media Strom

Greater penetration into the professional market, especially in 4- and 5-star hotels, and the development of exports mainly to the Balkans and the Middle East are the next goals of Athens Flooring, known to the general public as Media Strom, which is 55 years old. life. At the same time, it is also planning its presence in the electronic sales channel, trying to reach a younger audience through more affordable solutions. Interestingly, the company, although before the financial crisis it had accepted an offer to build a factory in Bulgaria, chose to invest in Greece, building in 2010 the leading mattress factory in Greece, specifically in Markopoulos, Attica, a factory that is among the top three in Europe.

According to what Giorgos Niarchos, general manager of Athenian Flooring, said at a press conference yesterday, the goal is to increase sales in the professional market (mainly 4- and 5-star hotels) by 40% in 2023 compared to last year, which was approx. 2.1 million euros (7.9%) with total sales of 26.5 million euros. It is noted that the total sales of the so-called professional market is estimated at 100,000-120,000 mattresses per year. In the so-called domestic market, which is also a strength of Media Strom, the company plans the following steps in 2023: a) the opening of three new corporate stores so that by the end of the year there will be 38, from 35 today, b) the launch of the market for more affordable solutions that will mainly be addressed to a younger audience, which will also be available through an online store and c) the launch of some anniversary codes. Regarding the latter, the company has already developed a new Sleep Dimmer brand with a physical store in the Alimos area. The company also attaches particular importance to its collaboration with Praktiker, which has existed since 1992, when the network began operations in Greece, with the creation of a new brand (Zenius) specifically for Praktiker. Praktiker’s sales represent approximately 6% of Athens Flooring’s total turnover. It is estimated that around 450,000–500,000 mattresses are sold annually in the Greek domestic market. The domestic mattress market is valued at €160 million at consumer prices, with Media Strom taking the lead.

In terms of activities outside of Greece, the company initially explores the Albanian and Cypriot markets, and in a broader sense, its interests are focused on the markets of the Balkans and the Middle East. It is worth noting that in the 1990s the company had a significant presence in Russia with four Media Strom stores in Moscow, but this presence ended after the large devaluation of the ruble in August 1998.

In 2022, the company posted sales of €26.5 million compared to €22.1 million in 2021, and an estimated EBITDA of €5.8 million compared to €6.2 million in 2021. increase in EBITDA to 7 million euros.

Author: Dimitra Manifava

Source: Kathimerini

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