Olympic Group History and Activities

Only available on StudyMode
  • Topic: Washing machine, Major appliance, Home appliances
  • Pages : 3 (844 words )
  • Download(s) : 88
  • Published : May 9, 2011
Open Document
Text Preview
HistoryOlympic 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.[citation needed]

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.[citation needed]

During the 1970s and 1980s, the company started to grow...
tracking img