Globalsat: new era of operation and development. New shareholding composition. Strategic development based on three pillars.

Globalsat-Teleunicom Group enters its new operating era with the restructuring of its shareholding composition, which resulted from the recovery of all its shares, which had been transferred to AVE Group in 2019.

As part of the change in the Group’s shareholding composition, VAPAD S.A., the Group’s ownership interest company, acquires 25% and 2 shares of AVE Group and now gathers 50% and 1 share of Globalsat-Teleunicom Group. At the same time, the Group allocated the percentage of Teleunicom S.A. that it held in the company Retail and More, in AVE Group, reflecting its strategic aim to replace its activity in the wholesale trade of consumer goods, by accelerating its development plan in the two main pillars of its activity, technology and energy.

AVE Group, through the sale of its participation in Kristelcom and the increase of its participation in Retail and More, focuses on the development of activities related to the FMCG category. The partnership of the two groups, since 2019, has maintained a particularly positive sign, with Kristelcom Group significantly contributing to the improvement of AVE Group’s financial results.

Growth pillars of Globalsat-Teleunicom Group.

Today, The Group is one of the fastest growing companies in the Greek market, having created one of the largest and strongest cooperation networks with the entire retail technology market, as well as with all telecommunication providers in the Greek and Cypriot markets. It plays a leading role in the distribution of leading brands of technology , such as Samsung, Huawei, Sony, Lenovo and Logitech, while in 2022 it announced the strategic partnership with the Asian company TCL, for the official distribution of the full range of white goods and TVs in Greece. In addition, leveraging its know-how and its extensive network worldwide, Globalsat has created and distributes three high-quality private label brands of technology accessories (Vivid, Cozy, Redshield), on behalf of its customers in the Greek market.

Going through the third decade of the company’s operation, its new business development plan is based on three main pillars: technology, with the expansion of business solutions, innovation, with new products and applications, sustainable energy, with the expansion of its solutions for the green transition of businesses.

The pillar of the green transition of businesses in Greece is a strategic priority for Globalsat. As the official dealer of Blink Charging Hellas, it develops the network of EV charging stations of Blink in Greece, one of the leading US companies in the field of distribution of EV charging products and services. In addition, from the beginning of 2023, the company expanded its activity into new fields, creating Greenvolt Next Greece, in collaboration with the Greenvolt Group, a pioneer in Europe in the field of renewable energy sources. Through Greenvolt Next, Globalsat offers a full range of specialized solutions, including the financing, design and installation of self-consumption photovoltaic systems on business premises, with the aim of harnessing solar energy and reducing energy costs.

It is also worth noting that in 2022 the Group expanded its activities with the creation of new offices in Crete, in order to directly serve the needs of its partner network and business customers in the region. Additionally, as part of the expansion of the Outsourced Category Management Solutions service outside of Greece, in the first quarter of 2023, it has opened new offices in Romania, in order to meet the needs of the project with Vodafone Romania for the management, development and distribution of product categories Accessories & Gadgets, in its 450 stores throughout the country.

The culmination of the Group’s methodical path and focus on development came with the inclusion of Globalsat in the list of the 30 fastest growing companies for 2022, in the relevant evaluation by Fortune Greece. Finally, the Great Place to Work certification received by Globalsat confirms the Group’s emphasis on the development of its human resources, continuous training, continuous renewal of processes and the creation of a culture centered on Globalsat team.

The company’s goal for the next three years is to maintain its high growth rate with an emphasis on the pillars of technology and green energy and, at the same time, to remain among the leading companies on the market, both in terms of turnover and in terms of its status as an employer of choice.

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