Olympic Group (OG) is an Egyptian company that makes products such as water heaters and fans. It had established a well-known name among Egyptians and this was achieved through monopolizing the market for about 40 years with its refrigerators and washing machines. IDEAL had lots of potential for future growth. Olympic Group decided to purchase it in 1997. .
Olympic Group (OG) was founded by Abdallah Sallam in the 1930's. The company originally started manufacturing and selling radios, small appliances, electric transformers and by 1950, it started its own Shaher store chain. Abdallah Sallam also started another company under the name Cairo Light Industries. During the early 1970's, Cairo Light Industries invented its first locally built electric water heater and it was a great success due to its reliability and affordability.
Between 1970 and 1980, OG was able to fill in gaps by introducing services and products that was needed in market. This success was due to his eldest son Dr. Saad Sallam a PhD in engineering from McMaster University in Ontario. He brought with him experience and vision to the business which OG still revolves around. The company was expanding drastically and it needed a major reformation, so in 1995 it changed. The company became a public company rather than a family-owned business. .
IDEAL was an Egyptian state-owned company that manufactured refrigerators and washing machines. The purpose of this company was to offer many jobs to Egyptians and increase the GDP. IDEAL only produced refrigerators and washing machines, the demand for these products were really high and therefore IDEAL created a monopoly. Due to the monopoly IDEAL was never innovative, lacked technical expertise, and never invested into its business. Lack of expertise was attributed to IDEAL not training their employees and the hiring professionals from Italy who kept their skills to themselves. .