Following today's coverage in the press and the media ELMEC SPORT announces that as of 1 July 2009 there will be a change in the collaboration scheme between our Company and Harley-Davidson, with regard to the import and marketing of the legendary homonymous motorcycles in Greece.
As of today Elmec Sport represents Harley-Davidson and Buell motorcycles in Greece by operating three motorcycle, accessories and motor clothes selling points as well as three service points in Glyfada, Maroussi and Thessalonica. Within the new Harley Davidson strategy framework, according which the marketing of its products is no longer performed through distributors per country, the present agreement terminates on 30 June 2009. Subsequently, our Company will maintain the aforesaid selling points, as well as the exclusivity in the Athens and Thessalonica markets, and continue to be the strategic partner of Harley Davidson in Greece.
Nonetheless the underway change in the manner Harley-Davidson motorcycles are imported and marketed by no means affects the enduring cooperation framework of our Company with Harley-Davidson. Specifically, Elmec Sport will continue to design and produce fashion collections with the Harley Davidson brand name and trademarks and to market them in the European market and in countries beyond Europe as it is the case since 2001.
The turnover related to Harley-Davidson and Buell totals 0.9 million EUR for the first quarter of 2009 and 1 million EUR for the respective period of the last year. This activity barely corresponds to 1.4% of the consolidated Elmec Sport turnover and hardly 0.4% of the turnover of the Folli-Follie group, where Elmec Sport SA belongs.