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Dimitrios Koutsolioutsos: Chairman of a group now operating in 25 countries, with 5,900 employees |
GREECE/INTERNATIONAL. “Folli Follie takes pride in [our] success story. However, in order to be able to use the term “global brand”, we still have a few years ahead of us. But we are working towards this vision and in this direction.”
Those are the words of Folli Follie Chairman Dimitrios Koutsolioutsos, who started the company as a small Athens-based jeweller in 1982, and who now presides over an ambitious group that wants to become truly global.
Today, Folli Follie operates 380 points of sale in 25 countries and it employs 5,900 people worldwide, more than 65% of them outside Greece. The company is not just a manufacturer, but also a major distributor of brands and, through its stake in Hellenic Duty Free Shops, a key player in the travel retail business too.
The company’s growth trajectory on the international luxury stage has been rapid, and now it is preparing to take the next step.
Koutsolioutsos says: “While we are very well established in Asia – in Japan and China alone, Folli Follie has around 80 and 70 points of sale respectively – we are also very interested in the American market. Through the strong presence of Links of London [acquired in 2006 -Ed], we are planning to penetrate there even more intensively.”
For the brands it owns or represents, control over the distribution network is a long-standing and vital element in the Folli Follie strategy.
Where possible the group aims to operate through 100%-owned subsidiaries rather than agencies overseas, to guard the equity of the brands.
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Folli Follie: Maintaining control of the distribution of its brands is a key platform in the group’s expansion |
Koutsolioutsos notes: “[We have] direct control of the Folli Follie and Links of London product distribution network and this is very important for the monitoring and protection of those brands, as we have full control of the entire procedure. Add the fact that the group controls other points of sale such as department stores and of course Hellenic Duty Free Shops (HDFS), and it gives us another major advantage.”
Folli Follie entered the travel retail channel in 2003, and has big plans for growth in the channel.
Koutsolioutsos says: “The aggressive development of HDFS is our priority for the coming years. We are capitalising on the experience of the group through its multiple brands to drive the consumer away from tobacco and spirits, towards a healthier, more fashion-oriented culture, and to expand [the range of] innovative gifts and environmentally friendly products. This is the legacy we want to give HDFS.”
Travel retail has its part to play in driving Folli Follie – as a brand and as a group – to become a truly global player. But it won’t be easy, as Koutsolioutsos admits: “[Our] greatest challenge is to become a group of companies with international reach and presence, on a par with other global fashion groups. In other words, [we must] attract famous brands, but also expand the distribution of the brands through our network, which is constantly developing. Based on the group’s international experience and our committed human resources, we want to establish Folli Follie Group on a global level.”
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This store at The Venetian Macao-Resort-Hotel is one of many the group is opening in exciting emerging markets |
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