Global Geox sales declined 9,4% in the first half of 2024.
Italian footwear brand Geox reports a 2024% decline in revenue in the first half of 9,4 to €320,4 million. Last year, in the same period, the brand's sales amounted to 353,6 million euros.
Although the group recorded a profit of €3,6 million in the first six months of the 2023 financial year, the loss before interest and tax (EBIT) for 2024 now stood at €5,5 million. Net loss, in turn, increased from 9,6 to 15,4 million euros.
The decrease in revenue is a consequence of the weak development of the wholesale business, which accounts for 48,7% of the company's sales; here, in the first half of 2024, sales decreased by 16% year-on-year, to 156 million euros, which was mainly due to a significant decrease in the volume of initial orders for the collection SS24 and repeat orders throughout the season, which were up slightly compared to the previous year.
Revenue from stores operated by the brand's franchise partners (which accounts for 7,3% of the group's total sales) also fell by 15,2% to €23 million.
Sales from directly operated stores (DOS), including both landline and digital channels, accounted for approximately 44% of group sales, amounting to a total of €141 million. This is slightly better than the result achieved in the first half of the 2023 financial year, when sales amounted to € 140,2 million
Despite strong growth in the first quarter, the company's own retail business also contracted in the first half of the year. The impact of the high number of store closures was only partially offset by positive like-for-like sales, resulting in retail channel sales down 5,4% year on year to €110 million. The brand's own online retail alone saw a significant year-on-year increase in sales of 29% to €31 million.
The decline in sales recorded by Geox applies to all regions where the brand operates. In Italy, sales fell 9,9% to €89 million, while in the rest of Europe they were down just 1,7% to €146 million. In North America, sales fell by 13,7% to €12,0 million, while in the rest of the world markets they amounted to €73 million, down 20,6% from the same period last year.
Footwear sales, representing 91,1% of Geox's consolidated revenue, reached €291,9 million, down 10,1% (8,7% excluding currency fluctuations) compared to the first half of fiscal 2023. Clothing sales, which accounted for 8,9% of the group's total sales, amounted to 28,5 million euros, down 1,1% from the 2023 million euros received in the first half of the 28,8 financial year.
Subscribe and read Shoes Report news in our official Telegram channel
Italian footwear brand Geox reports a 2024% decline in revenue in the first half of 9,4 to €320,4 million. Last year, in the same period, brand sales amounted to 353,6 million...
Aquazzura Releases Collaboration With Alex Riviere
Italian luxury footwear brand Aquazzura presents a new collection inspired by the conversation between designer and brand founder Edgaro Osorio and fashionista, beauty and businesswoman Alex… 10.09.2024 78
Proenza Schouler x Sorel Unveil New Collaboration
American designer footwear and accessories brand Proenza Schouler opened New York Fashion Week on September 4. Along with its spring '25 collection, the brand presented a collaboration with Canadian brand of insulated and all-weather footwear on the catwalk of the Week… 10.09.2024 89
Christian Louboutin Releases Leopard Print Shoes and Bags Collection
The leopard collection from French luxury shoe and accessories brand Christian Louboutin was developed exclusively for sale at the Neiman Markus department store chain and is aimed at American fans… 09.09.2024 198
US-based Tapestry to sell Stuart Weitzman
A major player in the global fashion market, the American company Tapestry, which owns the brands Coach, Kate Spade, Stuart Weitzman, was planning to expand its portfolio of brands by acquiring Capri Holding with the brands Michael Kors, Versace and Jimmy… 09.09.2024 243
Istanbul hosts AYMOD International Footwear and Leather Goods Fair
The 71st International Shoe Fashion Fair AYMOD, organized by the Turkish Shoe Manufacturers Association (TASD), opened its doors at the Istanbul Convention and Exhibition Center. The fair will run from September 4 to 7. The event was organized by… 06.09.2024 383
We are waiting for you at the Euro Shoes exhibition on August 26-29
The international exhibition of footwear and accessories Euro Shoes premiere collection starts in Moscow next Monday. Euro Shoes will be held in the capital's Expo Center from August 26 to 29 in alliance with the leading international clothing exhibition CPM Moscow. In one place and on the same dates, both exhibitions will bring together a large number of visitors, buyers and fashion industry professionals from Russia and the CIS countries.
The business program of the EURO SHOES exhibition will take place on August 28
After a break, the business program returns to the EURO SHOES premiere collection exhibition. It will take place on August 28 in pavilion 8.4 of the Expocentre, from 12:00 to 17:00.
EXTR4 - a new shoe brand from Italy at the EURO SHOES exhibition
Imagine a world where the barriers between urban style and athletic performance disappear, where shoes become more than just an accessory, but an integral part of your personality and lifestyle. This is the world of EXTR4, a new shoe brand from Italy created for men and women who live active, full lives.
PETER KAISER IS BACK! The oldest shoe brand in Europe will again be presented in Russia, Caprice Vostok CEO Viktor Kunz spoke about this in an exclusive interview with SR
"Peter Kaiser is back!" – with this slogan, the German brand Caprice opens the spring-summer 2025 season. At the end of December 2023, it became known that Caprice acquired Peter Kaiser, one of the oldest, rich in tradition and most respected shoe brands in Europe. Caprice will continue the unique history of the Peter Kaiser brand and retain its essence. The new owner promises to maintain maximum comfort and quality of shoe materials, a younger audience will be attracted, and prices will become very attractive. “In the mid-price segment, Caprice and I offer excellent value for money. Thanks to the Peter Kaiser trademark, registered in more than 70 countries around the world, we will be able to position ourselves in a higher price segment. The lower and luxury segments are dominated by vertically integrated suppliers. The segment with the greatest potential for our non-vertical partners is in between. This is where Caprice and Peter Kaiser will be positioned,” says Managing Director of CAPRICE Schuhproduktion GmbH & Co. KG Jurgen Kölsch.
Euro Shoes was a huge success in Moscow
The international exhibition of footwear and accessories Euro Shoes premiere collection was held in Moscow from August 26 to 29 at the Expocentre. Organizers and participants of the professional exhibition note the high level of attendance and business activity. Euro Shoes has once again become a center of attraction for professional buyers from different cities and regions of Russia and from the CIS countries.
Heading towards Moscow - development of the MASCOTTE chain in a new concept
The brand of shoes, clothing and accessories Mascotte continues to actively develop the network in a new concept. Updated spaces appeared in Moscow in the VEGAS KASHIRSKOE shopping center on the 1st floor (area more than 300 m²) and the Vesna shopping center on the 1st floor (area more than 400 m²). By the end of 2024, openings are planned in the Botanica Mall mixed-use complex on the 1st floor (area more than 400 m²) and in the ODIPARK shopping center on the 1st floor (area more than 300 m²). In 2025, the brand plans to continue to expand its network of branded salons in a new concept through consistent and methodical openings in new shopping centers and rebranding of current salons with relocation to larger areas.
How to differentiate yourself from competitors and earn more?
Online shoe sales are increasingly competing with offline stores every year, but they still cannot count on even a 20-30% share of sales on the Russian market. With rare exceptions, the cost of shoes on marketplaces is lower than in retail stores; for some reason, most buyers prefer to purchase a new pair, albeit more expensive, but personally choosing from the assortment presented on store windows and shelves. This illogical behavior of buyers can only be explained by the fact that each of them has individual characteristics when choosing purchases. SR expert on increasing sales in fashion Evgeny Danchev talks in detail about three options for a marketing strategy for positioning retail in the market, their advantages and benefits.
MUNZ Group: Five common mistakes when searching for line personnel
Mistakes in personnel selection are costly for companies. The time spent on searching, the investment of money in organizing recruitment and the lack of salespeople in the store increase the value of each correctly selected employee and increase the cost of an error. Munz Group HR Director Ekaterina Ananenkova talks about the most common mistakes.
Euro Shoes will be held in pavilions 2.5, 2.6 of the Expocentre Fairgrounds
Dear partners!We inform you that the Euro Shoes premiere collection exhibition will be held from August 26 to 29 at the Expocenter, pav. 2.5 and 2.6.
Time-tested and new collections
PETER KAISER SPRING/SUMMER 2025
Global footwear production down by 1,5 billion pairs in 2023
According to statistics from the World Footwear Yearbook 2024, the annual analytical bulletin of the Portuguese Footwear Association, global footwear production fell by 6% last year to 22,4 billion pairs. And global footwear exports decreased by 9,1% year-on-year, to 14 billion pairs, writes Worldfootwear.com.
A fashion buyer's checklist will expand your capabilities in creating an assortment for a shoe store
On the eve of the purchasing season, the buyer’s main task is to prepare for the formation of a new assortment. If we pass this stage efficiently, then we increase the efficiency of our work by at least 2 times, reduce the risk of outsider models appearing in the collection and increase overall liquidity and the share of hits. SR expert on purchasing and sales in the fashion business, Elena Vinogradova, shares recommendations based on her extensive practical experience as a fashion buyer, and has also compiled a checklist especially for readers of the magazine to assess your readiness to purchase a new collection.
Difficulties in recruiting personnel and how to deal with them
Many managers believe that by providing decent wages and good working conditions, potential employees will come to work on their own, and each of them will become an excellent salesperson. Unfortunately, this is not the case: applicants come reluctantly, and in most cases, none of them are suitable for the position of salesperson. Therefore, personnel selection requires a professional approach. SR expert in the field of fashion business management and development Maria Gerasimenko talks about the employee selection algorithm and non-standard methods of searching and interviewing candidates.
HIT OF THE SEASON: THE MOST CURRENT MODELS FOR SUMMER FROM THE GERMAN FOOTWEAR AND ACCESSORIES BRAND TAMARIS
The German brand Tamaris presented the Hot summer line with light and weightless models that are ideal for the hot season.
Working with an active audience on Telegram and VKontakte. Mistakes brands make when moving to new local social networks
We already wrote about how to work in the Russian social network “VKontakte” and the Telegram messenger, about the features of these platforms in the 195th issue of the magazine; the expert was digital expert from Fashion Consulting Group Katerina Diveeva. In this issue we return to this difficult topic again, as it is still relevant. Companies have a hard time mastering new platforms and tools through trial and error, but continue to work through them with their target audiences - with existing and potential clients, since there is no alternative: traffic and coverage in prohibited networks is steadily falling. With Katerina Diveeva, we analyze the most common mistakes that are made when moving to new local networks.
Louis Vuitton opens a new factory in Italy
Louis Vuitton has opened its second shoe factory in Italy. After opening the first one in Fiesso d'Artico in Veneto, the LVMH flagship brand has just opened a new production site dedicated to this category of footwear in the industrial zone of Civitano in the Marche region. There is also another brand production facility in Tuscany, where bags and leather accessories are produced, writes fr.fashionnetwork.com.
Effective methods that will help improve the effectiveness of sellers
Many store managers face the problem of staff burnout who work on the sales floor. Previous motivation schemes for salespeople - “salary +%” no longer work today, and therefore new ways are needed to motivate employees to work better, more and sell more effectively. SR expert in fashion business development management Maria Gerasimenko shares her knowledge and tells what motivation schemes are effective today, how to implement a new motivation program and accustom a sales team to it.
Results of the round table of shoemakers with the Ministry of Industry and Trade of the Russian Federation, CRPT, NOBS and Wildberries
On September 15, a strategic meeting of representatives of the Ministry of Industry and Trade of the Russian Federation, CRPT, the National Shoe Union (NOBS) and the largest Russian marketplace Wildberries was held at the Holiday Inn Sokolniki hotel in Moscow. Representatives of the Russian footwear industry also took part in the meeting.The event was aimed at discussing key issues of interaction between sellers and the Wildberries platform. Every aspect of the work was analyzed in detail, including news on product labeling from the CRPT. Questions sent in advance from companies received detailed answers from authorized Wildberries employees. The discussion was very lively and productive.
Health and comfort in Relax Anatomic dress shoes
For many years, the Greek company Relax Anatomic has been producing innovative anatomical shoes that meet the requirements of orthopedic doctors. The Relax Anatomic design meets all the needs of the modern woman who seeks style and comfort. Relax Anatomic shoes offer a wide range of sporty and classic shoes for all ages in high heels, mid heels and flats.
Aroma Sementi offers an innovative shoe accessory
The Aroma Sementi brand presents an innovative accessory for shoes - aroma stickers, which are attached to the insole and sole and give freshness and a pleasant aroma that lasts for 30 days.
CAPRICE acquired PETER KAISER, one of Europe's most traditional footwear brands
Shoe manufacturer CAPRICE from Pirmasens has acquired the PETER KAISER brand, one of the oldest and most respected women's shoe brands in Europe. Caprice will continue the unique history of the PETER KAISER brand and preserve the essence of the brand. At the same time, maximum comfort and quality of materials will be maintained, a younger audience will be attracted, and prices will become more attractive.
A new look at Giotto. Interview with the head of the company Vladimir Timofeev
The corner of the Russian women's shoe brand Giotto in the fashionable metropolitan department store Trend Island became the first application of a famous Moscow shoe factory to develop and promote its own brand. Until now, the company has focused on sewing shoes for third-party customers and large retailers. Shoes Report spoke with the head of Giotto, Vladimir Timofeev, about its new strategy and the prospects for domestic production.
The international footwear exhibition Euro Shoes premiere collection was successfully held in Moscow
Russia's largest exhibition of footwear and accessories, Euro Shoes, was held in Moscow from February 19 to 22 and again became the main meeting place for fashion brands and buyers.
How the mule became a mule. A very feminine and relevant model of women's shoes today appeared in ancient Rome.
We continue the joint educational and educational project of Shoes Report magazine and the State Historical Museum (GIM), dedicated to the history of shoes and shoe craft. Women's mule shoes are fashionable footwear for rich city women for going out. The pointed-toed shoe was cut equally for the left and right feet, had a high heel and a durable sole covered in leather. Where did the fashion for mule shoes come to Russia?
Shoe educational program: what shoe soles are made of
“What is the difference between TEP and EVA? What does tunit promise me? Is PVC glue? What is the sole of these shoes made of? ”- the modern buyer wants to know everything. In order not to smash his face in front of him and be able to explain whether such a sole suits him in soles, carefully read this article. In it, process engineer Igor Okorokov tells what materials the soles of shoes are made of and what makes each of them so good.
How to set prices that will earn
Some businessmen still confuse the concept of margin with the concept of trade margins and set prices for their goods, guided solely by the example of competitors. No wonder they go broke! Analyst at the Academy of Retail Technologies Maxim Gorshkov gives several tips and formulas with which you can set not only ruinous, but also profitable prices.
Sales of shoes and accessories: effective techniques for business rhetoric
Which speech modules are effective in communicating with potential and current customers of shoe stores, and which are not, Anna Bocharova, a business consultant, knows.
We form the salary of sellers: expert advice
“How do you charge your consultants for personal or general sales?” Is one of the most popular questions causing a lot of controversy and gossip on the online forums of retail business owners. Indeed, how to properly form the earnings of sellers? But what about bonuses, where to get a sales plan from, do employees allow them to buy goods at discounted stores? In search of truth, the Shoes Report turned to a dozen shoe retailers, but no company wanted to disclose its motivation system - the process of its development was too complicated and individual. Then we asked four business consultants, and finally became convinced that the topic of seller motivation is very complex, because even our experts could not come to a common opinion.
Technology Selling Issues
There is nothing worse than meeting the buyer with the words “Hello, can I help you with something?”, Because the seller works in the store just to help. Criticizing this well-established pattern of communication with the buyer, Andrei Chirkarev, business coach for effective sales and the founder of the New Economy project, shares the technology of truly selling issues with readers of Shoes Report.
The whole truth about Bayer. Who is he and how to become one?
Bayer is no longer a new, but still a popular and sought-after profession. It’s fashionable to be a buyer. Buyers are at the origins of the emergence and development of trends. If the designer offers his vision of fashion in the season, then the buyer selects the most interesting commercial ideas. It is on buyers that the policy of sales of stores and what, in the end, the buyer will wear depends on. This profession is surrounded by a magical fleur, often associated with a lack of understanding of what exactly is the work of a buyer.
Fur, and not only: types of lining
In the production of winter footwear, various materials are used that are designed to retain heat and meet the requirements of consumers: natural sheepleather, artificial fur, artificial fur from natural wool and others. All types of lining fur have their own advantages and disadvantages. Let's consider the properties of each of them.
The best models of Czech shoes of the past
In Soviet times, for shoes from Czechoslovakia sold under the Cebo brand, customers stood in line for four hours and did not regret it, because Czech shoes were considered to be of high quality, comfortable and fashionable. Shoe designer Juraj Shushka shared a photo archive of his collection with Shoes Report magazine, which contains the most interesting Cebo models from the 1940's to the 1980's.
Retail Arithmetic
Before you begin to solve specific problems, you need to find out how accurately all the leaders of your company understand the basic terminology of retail.
How to fire a worker without tears, scandal and trial
Sooner or later, any manager is faced with the need to part with an employee. Properly and on time the dismissal procedure will save the company money, and the boss himself - nerves and time. But why sometimes, knowing that a break in relations is inevitable, we put off the decision for months?
