Higher sales again at Geox
Italian footwear brand Geox has posted improved sales for 2008.
Consolidated sales rose 16% (to EUR892.5 million. Footwear sales represented 91% of consolidated sales, amounting to EUR808.4 million, up 13% increase compared with 2007. Apparel sales accounted for 9% of consolidated sales, totalling EUR84.1 million, up 63%.
Italy remains the group’s main market accounting for 37% of sales, although this fell slightly compared with 38% in 2007. Sales totalled EUR333 million, a 13% increase.
Europe generated 45% of sales, down from 47% in 2007, and sales totalled EUR404.3 million, a 12% increase. North America reported an increase in sales of 28% and sales for the rest of the world rose 38%.
Mario Moretti Polegato, chairman and founder of Geox, said: “Once again in 2008, Geox revenues grew double digit, closing the year with a 17% increase, an excellent result considering the drastic contraction in consumer spending worldwide. The economic outlook is likely to remain uncertain and difficult for the next few months, but the orders received for the spring-summer 2009 season are up by 6% and this makes us confident about the future. I am absolutely convinced that it is in times of difficulty that opportunities will open up for more competitive firms and thanks to the flexibility of its business model and the solidity of its balance sheet, Geox will be able to come out this moment stronger.”
