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Sprider Stores: Press Release

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SPRIDER STORES presented its investment strategy amid the crisis, which includes streamlining of its retail store network, realizing substantial investments and renewing its product mix, at a press conference, which took place today Tuesday October 5 at its concept store in Vari, Athens.
Mr. Athanasios Hatziioannou, Chairman of Group Sprider Stores, opened the press conference by mentioning that amongst the event?s purposes was also to elucidate SPRIDER STORES Groups recent actions as well as to present its investment plan on the renovation and refinement of its retail stores chain. Mr. Hatziioannou highlighted that SPRIDER STORES is the largest Greek company in the industry with a 6% market share and pinpointed that the groups investment activity is the best proof and its response at the same time that SPRIDER STORES is here to stay holding on to its sustainable growth course. 

Following the above, Mr. Athanasios Matlezakis, Investor Relations Officer for the Group, continued on with a brief overview of the Groups position in the Greek market and the groups bold stance in terms of its ongoing investment activity, and also presented SPRIDER STORES key strategic pillars, which are: a) To sustain current pricing levels offering several discounts for vulnerable social groups such as the unemployed and the large sized families, as well as to absorb the new VAT imposed both in March and in June of 2010, b) to renew the buying experience by expanding its network as well as via the renovation and streamlining of the existing chain, the improvement of the supply chain following a € 3 million investment for the installation and application of SAP and the establishment of the new concept store, which alters the group?s retail chain structure and c) to expand the product mix which started in 2008 with the launching of the SPRIDER Accessories and continues on in 2009 with SPRIDER HOME while in 2010 it includes the substantial agreement with the Sakis Rouvas Collection. The overall action plan is a long term plan which commenced already following the € 1.5 million investment for the renovation of the Sprider Stores in Vari and in New Ionia as well as the € 1 million investment for the gradual renovation of the groups retail chain throughout Greece. 

At the conclusion of the event, Mr. Dorotheos Hatziioannou, Executive Director of the Companys Board, presented the new Sprider concept store that signifies the initiation of its new philosophy aiming at exposing the groups brands, which find their own spot within the Sprider Store. This way, the consumer has the ability to surf in the Sprider Store comfortably and locate the fashion department of his or her interest. Via the new concept the SPRIDER STORES offer separate departments and namely: KIDS for boys and girls, Aggressive youth casual wear (male and female), Soul Rebel casual wear (male and female), Emilio Corali formal wear and suits, underwear department where the Belinda underwear are offered, sportswear that will include other well known brands, shoe department and naturally the exclusive SPRIDER Home department. 

This is the multi-brand concept featuring the SPRIDER STORES brand, which creates the necessary grounds for the new substantial joint venture that illustrates the SPRIDER STORES fashion statement that is: the cooperation with Sakis Rouvas for the Sakis Private Collection, the new fashion that Sakis Rouvas prepared himself and is exclusively distributed at the SPRIDER STORES. 

The bold strategy has always been a genuine part of SPRIDER STORES identity and character, which has achieved the enhancement of its retail network, its sales and its market penetration at impressive rates managing today a total of 109 stores in the Southeast Europe, and has established one of the two first branded value fashion chains in Greece, marking € 163.9 million of turnover in 2009. Today, by means of pragmatically exploiting its long lasting experience in the value fashion industry along with its competitive edge, SPRIDER STORES capitalizes on the Sprider Stores awareness and the trust it has established over the years with its customers in order to best cope with the current crisis while setting the grounds for the post-crisis era.

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