Strong online growth for Geox in 2016
08/03/2017
The company attributed this growth to a 12% increase in revenue from its wholesale channel and a 30% improvement in online sales.
Mario Moretti Polegato, chairman and founder of Geox, explained: “Russia and countries in Eastern Europe are driving this growth, but Austria, Switzerland and the UK are also giving us satisfaction with double-digit growth.”
Geox’s sales in Italy fell 3.9% to €270.1 million, while there was also a 3.4% drop in sales to North America. Its overall European sales were up 5.6% to €396.6 million and revenue from other regions increased 12%.
Footwear made up 91% of its sales during the year; total sales for this segment were €815.5 million, a 3.9% improvement compared to 2015. Apparel sales fell 4.6% to €85.2 million.
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