Geox to focus on digital, forecasts annual revenue of 800,000 euros by 2024

Geox, the Italian shoe company best known for its breathable and waterproof shoes, has forecast sales to reach 800 million euros by 2024.

The company has put in place an aggressive growth strategy to increase sales 11 percent per year. The company’s chief executive Livio Libralesso said the customer will be central to its operations with a focus on digital to reach 30 percent of the company’s turnover.

Geox said it aims to improve its market share in core markets including Italy, France, Spain and Germany, where it enjoys a solid positioning, and to accelerate growth in locations where there is brand knowledge, such as in Russia.

Geox plans to invest 70 to 80 million euros in its IT and digital projects, to improve the network of stores and integrated logistics and common management of warehouses across the channels.

“Presenting a strategic plan in a context made extremely complex by the pandemic testifies to the confidence we have for the future of Geox,” said Mario Moretti Polegato, president and founder of Geox. “In these two years, together with the CEO and the whole team, we have already taken important steps in the evolution towards a more efficient business model, thanks also to the important investments made in the digital transformation of the Group.”

“Geox is now guided by an approach focused on the centrality of the consumer and distribution, but, first of all, by our human capital, a wealth of Geox, on a par with the reputation of the brand and the uniqueness of our patents. We have therefore made significant investments in training and in strengthening the team which is now complete and made up of people who firmly believe in the project and will know how to carry it out.”