Geox satisfied with 2009 results
01/03/2010
Footwear brand Geox has announced full-year figures for 2009. The company achieved sales of EUR 865 million last year, which represents a fall of 4% on the figure for the year before. Profit was EUR 171.7 million, compared to EUR 200.4 million in 2008.
The company's president and founder, Mario Moretti Polegato, said on announcing the figures: "We've worked hard in recent months to achieve these results and I am satisfied with them. The group still has a high level of profitability and has reinforced its leadership position in its main markets. Lastly, but possibly most importantly, Geox has taken the opportunity to rationalise and make more efficient our own production and distribution set-up."
He said the results the company had achieved had only been possible in the current climate thanks to the strength of the brand, the "uniqueness of our [breathability] technology", and its flexible business model.
Geox completed the acquisition of Italian sports brand Diadora in October 2009. Official press statements about the annual results made no mention of this. Business media quoted Mr Polegato as saying he had no plans to merge the two brands.
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