Geox strengthens in China
today Nov 20, 2015
Geox has just signed a distribution agreement with the Pou Sheng International group to speed up its expansion in China. The Chinese group is listed on the Hong Kong Stock Exchange and, with 20,000 employees and 6,000 retail outlets in all shapes and sizes (in China, Taiwan and Hong Kong), it's one of the leaders on the Chinese sportswear market.
The agreement includes the exclusive distribution of Geox men's and women's collections, and notably plans for the opening of 350 retail outlets, mono-brand stores and shop-in-shops within the next five years in China.
"The objective is to expand our distribution in China effectively, since our directly-owned stores in Shanghai and Beijing have already demonstrated there are solid prospects," Mario Moretti Polegato, Geox's President and founder, has explained.
For the first nine months of the 2015 fiscal year, Italian footwear manufacturer Geox posted a total revenue figure of €708.9 million, a 6.1 % rise over the previous year.
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