Enterprise «5th Avenue» It might well be called the redesign that the administration is currently trying to manage. Attica department stores for the first floor of the flagship located in the City Link in the center of Athens. Instead, the most pedestrian Project Luxury was selected for hosting 10 – 14 luxury brands in the area about 2,700 sq.m. of the first floor with most of the signals currently hosted being transferred to other floors of the building.
At the press conference held yesterday on the occasion of the forthcoming IPO, the CEO of Demosthenes Boumis gave the big picture of this move. As he mentioned on the Greek market, fewer than 40 luxury houses are present today, when in the respective European capitals this figure exceeds 200. The biggest problem for the arrival of these houses is the limited availability of commercial spaces in the center of Athens.
The management of Attica Department stores did not make known which brands will be hosted on the first floor but reported that it is in discussions with luxury houses in which at this time «sample» the areas where their boutiques are planned to be hosted. At the same time, it left open the possibility of being used for the same project and unusable spaces in the Museum of Spyros Milos.
Focus on the luxury market
The above project «steps» on the assessment that the premium and luxury products market in Greece will reach 2 billion euros in 2030 out of 1.5 billion euros that are currently with Attica Branches aiming respectively to increase their share from 11% now to 15% – 16% in 2030.
Demosthenes Boumis, Managing Director of Attica Departments
Typical of the focus on this market is that in a question from CNN Greece to the administration for its share of the other department stores there was no response as they do not consider them competitive as they have largely different brands and as Mr. Boumis said, probably different customers.
Strategic Development Plan by 2030
The Strategic Development Plan 2026-2030 beyond the City Link Luxury Project, focuses on the following pillars:
1. Elevation Project: Attica targets investments of around EUR 7 million per year for the period 2026-2030. Taking advantage of the modern trend of the experimental retail and aiming at the customer's upgraded experience on all channels and points (polyshop, monobrand shop and electronic channel), the attica focuses on continuous upgrading of spaces, strengthening the brand portfolio and introducing premium services (VIP rooms, personal shopping, upgraded fashion, beauty and focus services). It is noted that, over the last three years, 21m euros have already been invested under the Elevation Project.
2. Expansion of physical presence by 7,500 sqm with new stores
• Monobrand stores: Expansion of monobrand stores by 1,000-1,500 sq.m., with opening 4-6 new stores at selected points (2027-2030), while strengthening cooperation with international houses.
• Attica Beauty Stores: Developing a new, flexible concept of beauty shops in high-visit points that will feature niche & exclusive brands. Specifically, the operation of 4-6 stores (2027-2029) of a total area of 3,000-3,500 sq.m.
• Multistores: Selective extension to commercial destinations of extremely high turnout after 2030 (about 2,500 sq mi).
3. Strengthening the attica e-shop: Further strengthening of the electronic store, which is already the #1 digital selling point in selective distribution cosmetics in Greece, with more than 60,000 codes.
4. Digital & technological modernisation: With investments of around EUR 2 million per year (2026-2030), attica aims at optimising «physigal» experience with the introduction of a new, advanced CRM & Loyalty system and upgrading of cash infrastructure.
Lambros Papakonstantinou: Attica is an important success story
During the event Mr. Lambros Papakonstantinou, Executive Chairman of the Board of Directors of Ideal Holdings, to which the Attica department stores belong, stated: «The course of Attica Branches in recent years has completely confirmed our investment strategy: to identify, acquire and develop companies with unique characteristics, healthy financial structure and durable development model. Attica is an important success story, achieving high performance and creating consistently added value for our shareholders and above all its own company. We are proud of the already successful course and we are actively supporting the management of the Attica department stores in the new, even more ambitious growth cycle».
Attiki Branches is one of the most dynamicly developing and timeless profitable companies in Greece for more than 20 years. Today, the company has 4 department stores in Athens and Thessaloniki, 4 monobrand and 2 multibrand stores and 1 online store.
Within 2025, more than 6.9 million customers trusted attica for their purchases by choosing between 1 million products from more than 1,000 fashion brands and beauty while more than 11.4 million customers visited the attica e-shop. The company manages a total of 69,000 sqm, employs more than 2,200 employees and works with more than 330 suppliers from the Greek and international markets.
