Apparel retailer Elmec Sport aims to invest €30 million-€35m on setting up a second factory outlet store in addition to another department store over the coming two years.

Elmec expects to start work on the factory outlet, located in the commercial park at the end of Athens International Airport, at the end of next month.

The outlet is expected to see sales of €50m in its first nine months of business.

Elmec is striving to boost its standing in the retail sector to offset the coming effect of losing its exclusive wholesale distribution of sportswear giant Nike's collections.