Geox affirms sales growth in first half
After a first quarter growth, the Italian footwear brand continues its momentum posting an increase in sales of 5.5 percent (+6.1 percent at constant exchange rates), or 450.3 million euros.
Much like the first quarter, shoe sales represented the largest part of overall revenue (91 percent) totalling 410.1 millions euros (+5.1 percent on a comparable). Clothing sales, although less significant in size (8.1 percent of revenue), recorded considerable growth (+9.9 percent on a comparable basis), or 40.2 million euros.
The domestic market Italy, which accounted for 32 percent of sales (compared to 33 percent last year), recorded sales of 143.6 million euros, up 1 percent, on 2015.
Europe made up 43 percent of overall revenues, recording a 7.1 percent growth and sales of 195.8 million euros. Meanwhile, North America recorded sales of 30.1 million euros, up 4.6 percent (+9.4 percent at constant exchange rates). Finally, across the rest of the world, Geox recorded a 19.4 percent jump in sales (+12.3 percent at constant exchange rates).
Categorically, Geox standalone store revenues hit 260.8 million euros, up 2.5 percent. However, multibrand stores witnessed the most significant jump, up 9.9 percent, or 189.403 millions euros.
According to Geox, the incredible growth rate was due to an increase in advertising budget, worth 25 million euros (+6 million euros).
"The objective was to strengthen brand awareness, increase instore sales and wholesale orders for autumn-winter 2016. The figures show it was a good strategy," said the brand.
Geox operates 1,151 stores with 461 standalone outlets. In Europe, the Italian brand has a network of 359 boutiques.
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