Establishment of VOYATZOGLOU SYSTEMS SA
VOYATZOGLOU SYSTEMS S.A. was founded in 1992 from the merger of three companies owned by the Voyatzoglou family which had been active for a number of years in trade and distributions of furniture fitting materials and store equipment. The aim of the merger was the optimum monitoring and coordination of the individual companies’ operations and the achievement of economies of scale. Gradually, the company developed into one of the most significant entities in the sector, investing in modern resources and applying contemporary sales, organization and administration methods.
Entering the DIY market
In 1995 the company extended its activities. First, it expanded into the do-it-yourself product market by developing partnerships with large technical product retail chain stores and then organized an operations department which provides comprehensive equipment solutions for both food & non food stores and for storage facilities.
In 1996 the company began constructing self-owned storage facilities in Metamorfosi, Attica and inaugurated two new exhibition spaces, one in Athens (Vouliagmenis Avenue 415) and one in Thessaloniki (Alex.Papanastasiou Str.61).
Investment in Thessaloniki - Greece
In 1998 VOYATZOGLOU SYSTEMS S.A. purchased a site of land measuring 8,300m2 in Thessaloniki and constructed a modern building complex that includes offices, showrooms and a distribution centre to cover market needs in Northern Greece and the Balkan countries.
Expansion to Romania
In 1999, the company expanded its activities in the Romania, with the establishment of a full subsidiary company named “VOYATZOGLOU SYSTEMS ROMANIA S.R.L.”, that trades in furniture fittings and do-it-yourself products.
In 1999, the company initiated procedures to establish its development strategy and to redesign the company’s its organizational structure, in order to cope with the fluctuating market environment and to further enhance its turnover. These procedures resulted in building an innovative, flexible yet resistant corporate culture.
The company then assigned to a consulting company that specialized in “Enterprise Resource Planning” (ERP) and “Business Process Reengineering” (BPR) to address the following matter/tasks:
a) to precisely record the company’s operational procedures per department and as a whole and suggest changes in operations, that would increase efficiency and productivity
b) to study what software needs the company has and find one that address them all
c) to certify the company with ISO 9001.
All the above were succesfully completed in 2000.
Entering the Athens Stock Exchange’s Parallel Market Index
In 2000 VOYATZOGLOU SYSTEMS S.A. successfully entered the Athens Stock Exchange’s Parallel Market Index. The company’s Share Capital was raised by 165.000.000 GRD / 484.225,97 Euro through the issue of 825,000 new common nominal shares with a nominal value of 200 GRD / 0.59 Euro each and a trading price of 3,600 GDR / 10.56 Euro. The 825,000 new common nominal shares became available to the broad investment public through an Initial Public Offering from which the company derived the above mentioned sums. Also in 2000, through the use of the capital derived the company made an investment of 895 million GRD / 2,626 thousand Euro.
Development of the “VOYATZOGLOU SYSTEMS ROMANIA SRL” subsidiary in Romania
Purchase of a 50,000m2 land site with an old building 12,750m2 along the Athens-Lamia National Road at Inofita, for the creation of a modern distribution centre.
Initation of Construction of Offices -Exhibition Space – Storage Facility in Sindos, Thessaloniki (Sindos area)
The purchase and installment of an EPR Computerized Information System and other Applications.
Disposal of derived capitals
In 2001 VOYATZOGLOU SYSTEMS S.A. completed 90% of the disposal of derived capitals and 83% of its investments program. Specifically:
The company’s modern new facilities in Thessaloniki are completed. The store branch at Alex.Papanastasiou 61 and Kleisouras 11 and the storage facility in Kalochori, Thessaloniki are relocated to the new building complex located on the 10th km of the Thessaloniki-Katerini National Road. The new facilities include 1,500μ2 of office and showroom spaces and 20,000m2 of storage space. This way it meets the market needs of Northern Greece and those of the Balkan countries.
Also, in 2001 the new Corporate Resources Utilization (EPR) Information Systems was completed and applied. All the Voyatzoglou Systems facilities were on line connected and synchronized; offering timely and reliable information.
State-of-the-art distribution centre
In 2002 the company begun construction work again of a privately-owned state-of-the-art distribution centre in Inofita, Viotia with a total surface area of approx.30,000m2 and storage volume 250,000m3.
2002 marked the creation of a New Special Sales Department (e-commerce). Its aim was to promote the existing product range along with a large number of new merchandise to industrial and retail outlets.
The department began operating at the beginning of 2004, with the completion of the new Distribution Centre in Inofita, Viotia.
In 2002 the company submitted an application to the Ministry of Development for an “Electronic Business” subsidy for computerised e-commerce and Warehouse Management applications. The application was approved (Min.Development reg.Numb. DPL/EB-A-461/F 19 A1/11.5.2003) for 120,996 Euro.
Completion of investment program
In 2003 the company’s investment program, worth 8.2 million Euro, (from capital derived from its Public Registration) was completed with important investments in new building facilities (Thessaloniki and Inofita, Viotia) and the establishment of a subsidiary in Romania worth a total of 4.5 million Euro, in EPR programs and the creation of a new Business Unit (B2B) worth 0.5 million Euro, while the remaining derived capital worth 3.2 million Euro was spent on the reduction of bank borrowing and floating capital.
In October 2003 the company was certified according to the ISO 9001 standards, by the internationally recognized British firm UKAS Quality.
Establishment of Logisystems
In February 2004 the company established a subsidiary company entitled Logisystems Limited Merchandise Storage and Distribution Company with 90,000 Euro capital and participation of 99%. The company is based in the Municipality of Inofita, Viotia. The established company aimed to the provision of merchandise storage, transport and distribution and standardization services and other activities related to the parent company.
In July 2004 the operation of the new self-owned state-of-the-art distribution centre in Inofita, Viotia commenced with a total surface area of approx. 30,000m2 and storage volume of 250,000m3.
With the operation of the previously mentioned building, the company deemed the upkeep of the storage facility on the corner of Sorrou and Katsantoni str. in Metamorfosi, Attica, excessive and decided to sell it strengthening the company’s results by 2,590,000 Euro which is the difference between the cost and residual value of the building.
New investments and cooperations
In January 2005 the company established a new subsidiary company entitled Organizer Stores Limited Commercial Proffesional & Domestic Equipment Company with 1,000,000 Euro capital and participation percentage 99%. The subsidiary is based in the Municipality of Ag.Ioannis Rentis. The established company offers all types of shopfitting and decorative equipment for professional and domestic spaces as well as the trade, decoration, appearance, promotion, automation, spatial exploitation and organization of products for professional and domestic spaces.
The partnership’s objective was to learn and develop through Retif S.A. & Fiter S.A. ‘s expertise in the equipment of professional spaces and access information and electronic data regarding the products and services.
In May 2005 the company decided to establish the company entitled “REVOS MANAGEMENT SRL” in Bucharest, Romania in which VOYATZOGLOU SYSTEMS S.A. participates with 99% of its corporate capital.The aim of the established company is the purchase, leasing and development of properties belonging to the company or third parties.
New Organizer Stores store in Glyka Nera
In December 2006 the company decides to operate a new store named “Organizer Store Limited Commercial Professional & Domestic Equipment Company” a subsidiary in the Glyka Nera area, Attica, on Lavriou Avenue 113, in an area of 3,200m2. This is the second “one stop shop” for professional equipment and decoration in Greece, with a variety of products including professional furniture, promotional and communication products, windows displays, artificial plants, packaging materials, glass, wood and metal shelving etc., and a large variety of constantly rotating seasonal products.