Answear.com enters the Greek market
Answear.com, leading e-commerce fashion seller in CEE, takes another big step on the way of foreign expansion, and starts its activity on the Greek market. It is one of the biggest markets in this part of Europe, relatively rich with dynamically developing e-commerce and relatively little competition. Answear.com is going to start its activity on one more new market by the end of this year.
Greek market has a lot of advantages, which made us decide on this direction. It is a large market, relatively wealthy, with a high income per capita ratio and a high awareness of premium brands, which will translate into the value of average baskets. Additionally, we have a natural logistic advantage over distant Western European countries, which results in limited presence of our biggest European competitors on this market. - comments Krzysztof Bajołek, CEO of Answear.com
Greece is one of the biggest countries in the Balkan region. About 10,5 million people live there. Greek society is relatively mature in terms of consumer habits and the way of dressing. Answear.com addresses customers interested in both fashion and premium products, as well as assortment for active people, through a wide range of sports products.
Greece is also islands, where logistics costs are higher. However, we identify our customers primarily on the mainland in major urban centres, mainly Athens and Thessaloniki. Our product range is tailored to the Greek consumer and we hope to become one of the industry leaders there. We are confident about our future performance. We assume that we will achieve EBITDA profitability in the Greek market in 2023. - adds Krzysztof Bajołek
Answear.com is an e-commerce, founded in 2011, selling branded clothes, shoes and accessories. The company currently operates in 8 countries of Central and Eastern Europe: Greece, Bulgaria, Czech Republic, Poland, Romania, Slovakia, Ukraine and Hungary. Sales are geographically diversified, with no single market accounting for more than 30% of the Company's total revenue. Later this year the Company is expected to announce the start of operations in another new market.