Fourlis is implementing the largest technological and organizational restructuring programme in its history, Chairman Vassilis Fourlis told the company’s annual general meeting, describing 2026 as a year of profound transformation and transition.
The group is accelerating the development of a unified retail platform that will connect its leading international brands with its regional footprint through shared infrastructure and capabilities. The initiative aims to streamline decision-making, accelerate the growth of existing and future retail concepts, strengthen customer engagement through common digital and data capabilities, and enhance sustainable operational efficiency.
As part of the plan, alongside technology and organizational upgrades, Fourlis will implement a voluntary exit scheme affecting 250-300 employees across the group, primarily managerial and administrative staff. The company will also close 10 loss-making stores across the markets in which it operates, mainly in Romania.
The transformation programme also includes the completion of an agreement with Golden Age Capital for the disposal of a majority stake in Holland & Barrett. In addition, the company plans to expand sales of Holland & Barrett products through pharmacy channels, leveraging the high level of trust Greek consumers place in pharmacies for wellness-related purchases.
Presenting the rationale and progress of the programme to shareholders, Fourlis Chief Executive Ioannis Vasilakos said the initiative involves a one-off, non-recurring charge of 10.7 million euros.
“These initiatives are expected to generate recurring annual benefits exceeding 9 million euros from 2027 onwards,” Vasilakos said.
“Our objective is to build a stronger, more agile and future-ready organization, capable of supporting multiple brands and markets with greater speed, consistency and efficiency.
“We are accelerating the transformation of our operating model in 2026 not only to reduce costs, but also to future-proof the organization and fundamentally improve the way the Group operates and performs.
“The measures being implemented are expected to deliver significant recurring benefits from 2027 onwards, strengthen operating leverage and support sustainable margin improvement, scalable growth and long-term value creation for our shareholders.”
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