Geox outlines turnaround plan
27/11/2013
The a company, which has been hit hard by the domestic recession, says it wants to focus on its ‘unique’ qualities (breathability), reduce the complexity of its offering and focus on new markets with high growth potential.
CEO Giorgio Presca said: "With a new organisational and management structure in all key business areas, we are pursuing a type of development that is sustainable and profitable, focused on consolidation in mature markets and a geographic balancing of sales to take advantage of important growth opportunities, particularly in markets such as China, Hong Kong , Eastern Europe and the Scandinavian countries, where the group's presence is still limited but in rapid and successful expansion."
The group is aiming for 9% annual growth – turnover of EUR 805 million in 2014, EUR 887 million in 2015 and EUR 985 million in 2016.
There are 96 store openings scheduled in 2014, 82 in 2015 and 76 in 2016 to build a network of 1500 stores.
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