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Gino Rossi expanding
The Polish shoe company Gino Rossi plans to expand its network by 12 shops according to Euromoney. Two of them are to be build abroad.The company already launched 4 new shops in the country this year: 3 Gino Rossi’s brands and Simple’s one brand as well as 3 shops in Germany - two Gino Rossi shops and one Simple shop.
The number of brand-name shops increased by 32 items in 2007, including 8 located abroad: in Russia, Germany, Denmark, Georgia, Ukraine and Hungary. At the end of 2007, the sales network of the whole capital group counted 161 salons, including 29 ones abroad.
Gino Rossi plans to move its shoe production of Geox and Vanita brands from Poland and Italy to India, in order to cut the production costs and increase sales margin.
Gino Rossi’s revenue in 2007 was PLN 174.3mn (up by 48.5%). The net profit was PLN 7.2mn. (ISB)
