Geox Renews Investments in Development
Italian footwear manufacturer Geox is launching a five-year development plan aimed at achieving revenues of more than 850 million euros, writes Worldfootwear.com.
Following reports of office closures in China and the US, Geox announced the launch of a five-year growth plan in early 2025, which includes investments of €120 million to strengthen the business.
The company has set a target of achieving revenues of more than EUR 2029 million by 850, with an average annual growth rate of 5% and an EBIT margin of more than 7%.
In particular, the majority shareholder, LIR, a company owned by Geox president and founder Mario Moretti Polegato, has committed to refinancing the company for up to 60 million euros: 30 million in the first months of 2025 and the remaining 30 million in autumn 2026. The company's liquidity will also increase due to an agreement with banks that extended the company's debt repayment period by 2 years.
The company's new strategic plan is divided into two phases: from 2025 to 2026, Geox will focus on strengthening its business model. Then, from 2027 to 2029, on strengthening its presence in key markets and resuming international expansion.
Specifically, the shoe company aims to expand its customer base to the 30-50 age group while continuing to invest in its core customer group (over 50). Geox plans to expand its own e-commerce platform, streamline its digital marketing efforts, and use analytics to better understand consumer preferences.
At the same time, Geox will invest in a full multi-channel strategy, focusing on upgrading existing stores and exploring new markets, including North America and Asia, where demand for premium footwear continues to grow. Some funds will also be directed towards sustainability initiatives in line with the company’s broader environmental goals.
At the same time, the Italian company signed a five-year partnership agreement “with a leading Chinese operator with international experience” to strengthen its presence in China.
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