Mario Moretti Polegato
07 Mar. 2011
GEOX: STRONG PERFORMANCE WITH SELF-OPERATED STORESShoe retailer Geox has seen a small decline in sales in 2010, as the Italian-based company has now announced. Sales reached €850.1 million, 2% less compared to 2009. The net income was €58 million, after €66.7 million in 2009. Mainly satisfied was the company with the second half of the fiscal year that showed growth of 9%. “Particular satisfaction came from our directly operated stores which reported comparable growth during fall/winter season of 14%”, said Mario Moretti Polegato, Chairman and Founder of Geox.
Geox has an increasing presence abroad with 60% of net sales being registered in the main foreign markets such as Germany, France and Spain. The company’s key market still is Italy. Altogether, Geox products are available in 103 countries worldwide.
Distribution in 2010 was handled through approximately 10,000 multibrand stores and 1039 Geox shops (1008 in 2009), which are either directly operated stores or franchise. Apart from footwear, the Geox group also offers apparel for men, women and children. Footwear sales represented 86% of consolidated sales, amounting to €731.9 million, with a 5% decrease compared to the same period of 2009. Apparel sales accounted for 14% of consolidated sales equal to €118.2 million, showing a 20% increase.
New Geox collection
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