Domestic appliances market shift

A hot summer and perhaps an even hotter fall is expected in the market of electrical and electronic devices after the decision of the British group Currys to put Kotsovolos, its subsidiary in Greece and Cyprus, up for sale.

The delisting by rival chain Plaisio a few months ago, which triggered various rumors, and the moves by Public to complete the merger with MediaMarkt are additional parameters of change in this important category of retail trade, which has undergone quite a lot of restructuring in recent years

After all, the previous significant developments in the sector were four years ago with the agreement for the acquisition of MediaMarkt by Public and the entry of Plaisio into the sub-category of household appliances.

The upcoming sale of Kotsovolos will reshape the market. It is not so likely that the buyer will be a domestic market player, firstly because it is estimated that the price for Kotsovolos will be set at levels approximately twice those that applied when the company that was sold by Fourlis to Dixons, when its value was 167 million euros. A price up to €350 million is therefore considered difficult for one of the two domestic players to cover.