Geox to launch review after fall in revenues
21/11/2018
The company said all industry players are facing difficult market conditions at the moment, but also pointed out that its spring-summer and autumn-winter seasons this year started slowly owing to unusual weather in all its main markets. Uncharacteristically cold weather in March delayed the spring-summer season. Then, unusually warm weather in September and in the first half of October proved a set-back for early sales of the autumn-winter collection.
Lack of consumer confidence and the decline of sales in physical stores were other factors Geox mentioned.
Chief executive, Marco Mascazzini, who has been in post since February, commented: “My first nine months at Geox have confirmed that this is a strong brand with great potential. To take back our leading role, Geox must accelerate investment in the future and develop its business model.”
He said the company will launch a review of its entire organisation.
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