FF GROUP CLARIFICATIONS REGARDING ITS COLLABORATION
Agios Stefanos, Thursday December 20th, 2018:
The Company with the name “Folli Follie Commercial Manufacturing and Technical Société Anonyme” and the distinctive title “FF GROUP” (hereinafter the “Company”) wants to clarify the following, after reports on possible developments related to the collaboration that the Company maintains with NIKE:
The Company maintains a long-term collaboration with NIKE, since 2007, through an extensive wholesale and retail distribution network with a total of 19 stores in Greece and Cyprus as well as 29 stores in Bulgaria and Romania. On December 18th, 2018 the Company was formally notified by NIKE, in writing, that it will maintain all existing contracts in Greece, Bulgaria and Romania until their contractual expiration time.
Therefore, it is clarified that gradually, from May 2019, until the fall/winter season of 2022, when the last contract of the Group with NIKE expires, the relevant contracts for the import and distribution of the branded clothing, footwear and accessories of NIKE and its subsidiaries will not be renewed.
It should also be noted that, despite the contract’s expiration in May 2019, which refers to the distribution of NIKE products in Greece to low consumption stores, the Company will maintain the unobstructed import and distribution of NIKE products throughout 2019. NIKE products’ distribution, through the Company’s existing stores in operation, will continue to be conducted by the Company in a seamless manner.
This announcement is released by Folli Follie Commercial Manufacturing and Technical Société Anonyme in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Rule Book of the Athens Exchange. It contains information that qualifies as inside information for the purposes of Article 7 of MAR. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, the person responsible for arranging the release of this announcement on behalf of the Company is Mantalena Kasidiaropoulou, Head Investor Relations.
Folli Follie Group: email@example.com +30 210 6241 000 / +30 210 6241 100