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Geox

Geox S.p.A. is an Italian brand of shoe and clothing manufactured with breathable and waterproof fabrics.[2]

History

The company was founded in 1995 by Mario Polegato.[2][3]

In 2009, Geox agreed with Italian sportswear company Diadora to have Polegato buy its assets through his family's investment arm, LIR.[4][2]

On September 8, 2020, Geox filed for bankruptcy in Canada.[5]

Production sites are in China, Indonesia and Vietnam.

In July 2021, Geox announced the closure of its Vranje plant in Serbia, which opened in 2015. The closure led to the loss of 1,200 jobs.[6]

On September 20, 2023, Penélope Cruz became the first brand ambassador for Geox.[7]

Geox in Russia

In March 2022, despite Russia's invasion of Ukraine, Geox opened its 80th store in Russia.[8] According to a list compiled by Yale SOM, the company has suspended new investments in Russia.[9] Despite the cessation of new investments, it can be argued that the company is still active in Russia, as in December 2022, Geox presented a new capsule collection of shoes and accessories for the spring-summer 2023 season.[10] "Sales in Russia and Ukraine, which together account for about 10% of the group's total, were in line with plans at about 37 million euros despite the weakening of the ruble."- firm said.[11]

External links

References

  1. Annual Report 2020 Geox, retrieved 20 January 2022^
  2. Francesca Ceccchinato, Tiziano Vescovi. Product Innovation in the Global Fashion Industry Palgrave Macmillan US : Imprint: Palgrave Pivot, 2018, retrieved 27 April 2024^
  3. Digital PR. portale di informazione aziendale del Gruppo Geox Geox.biz, retrieved 2011-09-03^
  4. Margareta Pagano. Geox billionaire steps into Diadora The Independent, 21 June 2009, retrieved 10 June 2023^
  5. Geox files for bankruptcy in Canada October 23, 2020, retrieved January 28, 2023^
  6. Geox will close its factory in Vranje, 1,200 people will lose their jobs Serbian Monitor, 2021-07-28, retrieved 2021-08-06^
  7. Penélope Cruz Named First Brand Ambassador for Geox 20 September 2023^
  8. Geox leave-russia.org, retrieved 2024-04-13^
  9. Over 1,000 Companies Have Curtailed Operations in Russia—But Some Remain som.yale.edu, retrieved 2024-04-13^
  10. Geox svidomo.info, retrieved 2024-04-21^
  11. Geox lowers 2023 sales guidance after setback in May Reuters, 27 July 2023, retrieved 2024-05-10^