Olympic Group - History

History

Olympic Group traces its roots back to the 1920s and 1930s. Ideal was probably the first Egyptian manufacturer to produce household appliances in the 1920s. In the 1930s, Olympic Group’s founder, Abdallah Sallam started a manufacturing and trading operation selling radios, small appliances and producing electric transformers. By 1950, his enterprise expanded into retail operations with the establishment of a chain of stores, “Shaher”, specialized in consumer financing. “Shaher” remained amongst the best performing retailers of household appliances in Egypt until it was nationalized in 1963.

The manufacturing arm of Sallam’s operations continued in the form of a new venture, Cairo Light Industries. In the early 1970s, it introduced the first locally produced electric water heaters under the brand name Olympic Electric. This innovative product provided a safe alternative to the gas water heaters that were popular at the time. It also capitalized on emerging consumer demand for electrical appliances and affordable electrical energy prices as a result of government subsidies. The water heaters soon dominated the market, and the Olympic brand became synonymous with reliability and affordability.

In 1975, EPA was established as the main trading arm of the group, handling marketing, distribution and after-sales services for all Olympic brand products.

Dr Saad Sallam, the oldest son of the founder, returned to Egypt in 1978 after receiving a Ph.D. in engineering from McMaster University in Ontario and became in charge of running the business, assisted by younger brothers Niazy Sallam, who looked after the trading side and Nabil Sallam who was responsible for the production side of the business. Dr Saad Sallam’s international experience, having worked with North American multinationals, brought a modern vision to the business that still defines Olympic Group today.

During the 1970s and 1980s, the company started to grow and prosper, through introducing new products that met customer demands and filled critical market gaps. Olympic maintained its market leadership through adopting new technologies in production, expanding product range and building a strong brand image.

To accommodate growth and complexity of operations, Olympic Group was established in 1995 as a holding company that overlooks a number of closely related subsidiaries engaged in manufacturing and trading of household appliances and related industries. Subsequent acquisitions and internal growth have led Olympic Group to become the market leader for white goods in Egypt with strong vertically and horizontally integrated operations.

By the end of 1997, the group expanded its trading arm by establishing Olympic Stores, now B-Tech. Today, B-Tech has become the biggest retail chain for household appliances in Egypt, focusing on consumer credit sales with 42 outlets spreading nationwide.

In 1998, the group enhanced its leadership position in the white goods market with the acquisition of IDEAL, the largest public sector manufacturer of white goods in Egypt. IDEAL, which was established in the 1920s, complemented the Group’s product range with refrigerators and washing machines.

Between 1997 and 2004 the Group went through a number of restructuring measures and investment projects that aimed at: 1. Separation of ownership from management 2. Boosting output capacity and quality 3. Enhancing business focus 4. Empowering staff through delegation of authority

Today, the Group claims to be the market leader in household appliances in Egypt and to be rapidly penetrating regional markets.