GREECE, Weathering the Storm

According to Francesco C. Lemonis, Managing Director of F C Lemonis S.A…

I think everyone knows that times are tough in Greece at the moment. But what is perhaps most difficult to overcome is the uncertainty that emerges as a result of the global markets reluctance to believe the commitment and the effectiveness of the measures taken by the Greek government. Inevitably this uncertainty filters down to consumer sentiment.

Overall, I am finding that there is a lack of dynamism that can only be overcome by boosting loyalty and improving customer experience. But nevertheless there are signs of green shoots. Fendi are defying the crisis and opening their first stand-alone boutique in Athens downtown in partnership with Lemonis Group of Companies.

Similar openings within the Lemonis Group retail portfolio are those of Hogan, Salvatore Ferragamo, Tod’s and Stuart Weitzman monobrand boutiques at the Golden Hall Mall in Athens. The choice of the afore mentioned brands to be present at Golden Hall has proven to be wise following the international acknowledgement it received this year, when it was ranked number 1 in the world at the International Council of Shopping Centres Awards 2010.

As a luxury company in Greece in this difficult moment we are keeping our heads down and looking towards the outcome of the first fiscal results; the improvement in customer sentiments and the festive activities for the celebration of the Greek brand in our portfolio- Kalogirou, which will be celebrating its 120th anniversary.

Francesco C. Lemonis
Managing Director, F C Lemonis