Fly London defies economic crisis in Portugal - footwearbiz: Leading s

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Fly London defies economic crisis in Portugal

05/04/2012
Portuguese footwear brand Fly London increased its sales by 17% in 2011, in spite of Portugal being in the midst of a second year of punitive recession. Total revenues reached EUR 28 million.

It was a particularly good year for the brand in the US, with sales there increasing by 60% compared to 2010, and Fly London expects another good year there in 2012.

The company believes it can sell 100,000 pairs of shoes in the US this year, about 15% of its entire output, which in 2011 was 700,000 pairs.

Commenting on the results and the prospects for more success this year, Fortunato Frederico, president of parent group Kyaia, told local media: “We spent more than five years working hard in the US market without selling anything, but now all that effort is paying off. Women’s tastes in the US are more difficult to understand than any I have come across.”

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