Bodytalk, the Greek fitness and sportswear brand, is pumping up its investments in France and other European markets this year under the leadership of a new chief executive, who is aiming for an equal split between sales on the domestic market and abroad in five years' time.
Vassilis Karamanlis, who has already been driving Bodytalk's foreign expansion in the last ten years as its international sales manager, became the CEO in May. He took over from George Leotsakos, the company's majority shareholder, who is taking a step back from operations to focus on trends and design.
Bodytalk reported a turnover of €16.7 million in 2015, generating operating earnings before amortization (Ebitda) of €2.2 million. Greece made up about 76.5 percent of its turnover, after some structural adjustments in previous years to deal with economic turbulence in the country. Bodytalk's sales in its 35 Greek stores made up about 40.1 percent of its turnover in 2015 and another 6.2 percent came from its online store.
Bodytalk has picked France as a stepping stone for its European expansion with the opening of a full-fledged subsidiary in Paris this year. The Greek brand already had a showroom and a liaison office in Paris, supporting agents and a French marketing manager. Previously at Dunlop Slazenger, Claire Baril joined Bodytalk three years ago and remains its sole employee outside Greece.
The move to a subsidiary should make it easier to drive a wider sales push in France and other European countries. Selling the brand with the tagline “train for pleasure,” Bodytalk has also adjusted its range to the demand outside of the Greek market.
Baril has helped to build up sales in about 200 French stores, with key accounts such as Intersport, Sport 2000 and Leclerc Sport et Loisirs, and she is targeting about 300 French stores next year. The company says its annualized French sales are nearing €1 million.
The brand should gain further exposure in July with a pop-up store of 60 square meters in the Galeries Lafayette in Paris, which will be open until the start of September to sell a mix of apparel, footwear and accessories. The Greek company's development plan calls for the opening of Bodytalk stores in France in the coming years.
France is the largest international market for Bodytalk, which is further distributed in Cyprus, Slovenia, Croatia, Serbia and Montenegro, along with Lebanon and several other countries in the Middle East.
