Geox to invest in China expansion - footwearbiz: Leading site for glob

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Geox to invest in China expansion

02/01/2025
Italian shoemaker Geox recently announced a €120 million industrial plan through 2029 and a five-year partnership with a leading Chinese operator to expand in China. This follows its decision to cease direct operations in China and the U.S., shifting to local partnerships after a 9.7% drop in nine-month global revenues in 2023.

Geox also extended its debt repayment terms by 24 months with creditor banks, including Monte dei Paschi, BNP Paribas, and Credit Agricole. Its controlling shareholder, LIR, will contribute up to €60 million to the plan.

The company aims to grow annual revenues from €720 million in 2023 to over €850 million by 2029, with a 5% annual growth rate and an EBIT margin above 7%.

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