|By PR Newswire||
|March 13, 2014 04:00 AM EDT||
ATHENS, Greece, March 13, 2014 /PRNewswire/ -- The Libra Group has announced that it is the principal investor in 50% of COCO-MAT and has formed a joint venture with the leading Greek manufacturer of specialist mattresses, other natural sleep products and furnishings. Partnering with the Libra Group in this investment is the independent investment firm, the Cycladic Group, owned by Dimitri Goulandris and his family. This alliance between privately-held family businesses is designed to facilitate the global expansion of COCO-MAT through access to the Libra Group's extensive global infrastructure.
Established in 1989, COCO-MAT is a leader in natural sleep products (mattresses, beds, pillows and bed linen) as well as furniture and accessories for homes and hotels. The company competes in the high end of the mattress market and is a leader in the fast-growing 'eco-bedding' category which leverages both the 'sleep awareness' and 'natural living' trends that are prevalent, especially in export markets. COCO-MAT beds follow a highly sustainable manufacturing process comprising multiple layers of natural materials, providing optimal support to the human body without the use of non-organic products such as metal springs. The company currently has 70 points of sale including 29 outside Greece.
The Libra Group is a diverse international business group comprising 30 subsidiaries active on five continents. It has a strong presence both in North and Latin America as well as Europe, Middle East and Asia, all of which present substantial growth opportunities for COCO-MAT. Libra Group also has extensive travel and hospitality interests globally which represent a key sector in which COCO-MAT is active – the company's mattresses are used by numerous luxury hotels and under a recent agreement all First Class seats aboard Etihad Airways aircraft will feature COCO-MAT products. This is Libra's first investment in retail and manufacturing in Greece although the group has been actively investing in the country during the economic downturn, notably in the renewable energy and hospitality sectors. Representatives of the new investors will join the COCO-MAT board.
COCO-MAT is already active in 12 countries and expects its global footprint to grow significantly over the next five years. In the retail segment the joint venture's business plan stipulates both additional COCO-MAT-owned flagship stores and new franchised retail outlets. The company will also establish new channels to market such as online sales. The wholesale market will be developed through strategic agreements with architects and interior designers, international hotel groups, airlines and cruise liners. The anticipated growth will result in significant new employment for skilled personnel in the company's headquarters and regional centres as well as production jobs in COCO-MAT's facilities in Xanthi, Greece.
Emmanuel Androulakis, Executive Vice President of the Libra Group, commented: "Coco-Mat is a cherished brand that we have long admired and for which we see significant international growth potential. The business has an exceptional record of product innovation and brand loyalty. We share COCO-MAT's values and vision and these are key ingredients for a successful long-term partnership. We have great faith in the COCO-MAT philosophy and in its management team. Furthermore, we believe strongly in the underlying strength of Greek businesses and of Greek human capital and expect to continue expanding our investment and operations in the country. We would also like to thank Invest in Greece for their guidance and support during the negotiation and completion of this transaction."
Mike Efmorfidis, the co-founder and CEO of COCO-MAT, added: "We are excited to welcome our new partners as strategic investors in our company, which will help us take a successful Greek brand to the next level as a truly global player. Our joint strategy is to expand into new geographies and sales channels and to take advantage of the largely untapped wholesale markets. We expect our new partners' market insight, global presence and extensive network of industry contacts to help COCO-MAT achieve its growth ambitions. We in turn would like to thank Marios Sophroniou of BBSL who initiated the strategic alliance and was Coco-Mat's exclusive advisor".
Notes to Editors:
About the Libra Group
The Libra Group is an international business group with principal operations in five core sectors: shipping, aviation, real estate, hospitality and energy. The group which is owned by the Logothetis family comprises 30 subsidiaries operating across five continents. Libra is distinguished by a combination of traditional values, new ideas and an agile mindset that allows it to take advantage of opportunities. (www.libra.com)
About Cycladic Group
London-based Cycladic Group is an investor in, and creator of, businesses. Founded in 2002 by Dimitri Goulandris to invest capital on behalf of his family and other investors, the group has invested in over 30 businesses and founded five in the U.S., Europe, India, Africa and Latin America. Cycladic works closely with its investee partners to help them achieve their ambitious goals.
COCO-MAT is a company based in Greece which was established in 1989 with the mission to improve peoples' quality of life by providing the best possible premium sleep products (primarily mattresses, beds and pillows) using solely natural materials which are derived from sustainable resources. COCO-MAT is defining the market category of natural sleep products and has operations in 12 countries including USA, Germany and China, by focusing on three core elements:
- Producing premium high quality natural sleep products
- Offering a higher level of customer service
- Providing an informative customer experience whose aim is to raise customers' awareness on the personal and societal benefits of using natural products
SOURCE Libra Group
SYS-CON Events announced today that Spirent Communications, the leader in testing navigation and positioning systems, will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Spirent Communications enables innovations in communications technologies that help connect people. Whether it is service provider, data centers, enterprise IT networks, mobile communications, connected vehicles or the Inte...
Oct. 9, 2015 10:00 PM EDT Reads: 149
The IoT market is on track to hit $7.1 trillion in 2020. The reality is that only a handful of companies are ready for this massive demand. There are a lot of barriers, paint points, traps, and hidden roadblocks. How can we deal with these issues and challenges? The paradigm has changed. Old-style ad-hoc trial-and-error ways will certainly lead you to the dead end. What is mandatory is an overarching and adaptive approach to effectively handle the rapid changes and exponential growth.
Oct. 9, 2015 10:00 PM EDT Reads: 214
Who are you? How do you introduce yourself? Do you use a name, or do you greet a friend by the last four digits of his social security number? Assuming you don’t, why are we content to associate our identity with 10 random digits assigned by our phone company? Identity is an issue that affects everyone, but as individuals we don’t spend a lot of time thinking about it. In his session at @ThingsExpo, Ben Klang, Founder & President of Mojo Lingo, will discuss the impact of technology on identity....
Oct. 9, 2015 10:00 PM EDT Reads: 436
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. Migration to cloud shifts computing resources from your data center, which can yield significant advantages provided that the cloud vendor an offer enterprise-grade quality for your application.
Oct. 9, 2015 09:30 PM EDT Reads: 309
DevOps is gaining traction in the federal government – and for good reasons. Heightened user expectations are pushing IT organizations to accelerate application development and support more innovation. At the same time, budgetary constraints require that agencies find ways to decrease the cost of developing, maintaining, and running applications. IT now faces a daunting task: do more and react faster than ever before – all with fewer resources.
Oct. 9, 2015 09:00 PM EDT Reads: 410
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi's VP Business Development and Engineering, will explore the IoT cloud-based platform technologies driv...
Oct. 9, 2015 08:45 PM EDT Reads: 133
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and Containers together help companies to achieve their business goals faster and more effectively.
Oct. 9, 2015 08:15 PM EDT Reads: 204
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
Oct. 9, 2015 08:00 PM EDT Reads: 314
The web app is agile. The REST API is agile. The testing and planning are agile. But alas, data infrastructures certainly are not. Once an application matures, changing the shape or indexing scheme of data often forces at best a top down planning exercise and at worst includes schema changes that force downtime. The time has come for a new approach that fundamentally advances the agility of distributed data infrastructures. Come learn about a new solution to the problems faced by software organ...
Oct. 9, 2015 08:00 PM EDT Reads: 932
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Oct. 9, 2015 07:45 PM EDT Reads: 168
As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ability. Many are unable to effectively engage and inspire, creating forward momentum in the direction of desired change. Renowned for its approach to leadership and emphasis on their people, organizations increasingly look to our military for insight into these challenges.
Oct. 9, 2015 07:45 PM EDT Reads: 190
Achim Weiss is Chief Executive Officer and co-founder of ProfitBricks. In 1995, he broke off his studies to co-found the web hosting company "Schlund+Partner." The company "Schlund+Partner" later became the 1&1 web hosting product line. From 1995 to 2008, he was the technical director for several important projects: the largest web hosting platform in the world, the second largest DSL platform, a video on-demand delivery network, the largest eMail backend in Europe, and a universal billing syste...
Oct. 9, 2015 06:45 PM EDT Reads: 224
Electric power utilities face relentless pressure on their financial performance, and reducing distribution grid losses is one of the last untapped opportunities to meet their business goals. Combining IoT-enabled sensors and cloud-based data analytics, utilities now are able to find, quantify and reduce losses faster – and with a smaller IT footprint. Solutions exist using Internet-enabled sensors deployed temporarily at strategic locations within the distribution grid to measure actual line lo...
Oct. 9, 2015 06:30 PM EDT Reads: 133
Cloud computing delivers on-demand resources that provide businesses with flexibility and cost-savings. The challenge in moving workloads to the cloud has been the cost and complexity of ensuring the initial and ongoing security and regulatory (PCI, HIPAA, FFIEC) compliance across private and public clouds. Manual security compliance is slow, prone to human error, and represents over 50% of the cost of managing cloud applications. Determining how to automate cloud security compliance is critical...
Oct. 9, 2015 06:00 PM EDT Reads: 324
The Internet of Everything is re-shaping technology trends–moving away from “request/response” architecture to an “always-on” Streaming Web where data is in constant motion and secure, reliable communication is an absolute necessity. As more and more THINGS go online, the challenges that developers will need to address will only increase exponentially. In his session at @ThingsExpo, Todd Greene, Founder & CEO of PubNub, will explore the current state of IoT connectivity and review key trends an...
Oct. 9, 2015 05:30 PM EDT Reads: 114