Despite softer demand, brands continue to bet on Greece with new investments and store openings.
The Greek luxury market is losing some of its momentum in 2025, echoing a global cooling trend driven by currency fluctuations and shifting tariff policies. Still, despite softer demand, brands continue to bet on Greece with new investments and store openings.
Chloé is preparing to open its first Athens boutique at City Link, while luxury retailer Kalogirou is introducing Greece's first Jimmy Choo store. In central Athens' Kolonaki district, Turkish fashion house Vakko has launched a new shop, and Michael Kors is expanding its presence in Thessaloniki. Homegrown names are also stepping up: Greek handbag brand Callista has debuted a flagship store on Voukourestiou Street, the capital's prime luxury shopping strip.
The wave of openings is fueled by last year's strong performance. Louis Vuitton Hellas reported record sales of €77.8 million in 2024, up 20 percent, with net profits rising 21.4 percent to €17.6 million. Prada Hellas, operating just one and a half stores, boosted sales 34 percent to €15.8 million, while EBITDA surged to €774,625. Hermès Greece also posted double-digit growth, with revenue up 27.6 percent to €22.35 million.
Among distributors, the Sarkk Group—exclusive partner for Calvin Klein and Tommy Hilfiger—stood out with turnover climbing 29.3 percent to €130.76 million and net profits reaching €15.61 million. The group also broadened its retail footprint with new stores in Mykonos, Corfu, and Larissa.
Meanwhile, attica department stores—seen as a barometer for the sector—generated €231.9 million in turnover in 2024, an 8.8 percent increase year-on-year.
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