Summary
The Geox footwear company, founded by Mr. Mario Polegato in 1995, became the world’s second largest manufacturer of shoes in the lifestyle market.
Until the early 1990s, Mario was involved in his family’s wine-producing and exporting business based in Italy. Polegato got the idea “the shoes that
breathes” in the summer of 1992, at a wine trade fair in the arid American state of Navada. Then he came back to Italy and looked for the breathable soles
in the local sports shops and he couldn’t find them. So he used the laboratory of a small shoe manufacturing company owned by his family and tried to
transform his idea into a product. Polegato immediately patented the new technology and tried to sell the invention to leading shoe companies in Italy.
However none of them showed any interest. So he got into partnership with his friends and started making children’s shoes and later on started
manufacturing shoes for adults. In 2000 the company expanded into the international market and boosted its sales through both exclusive and multi-brand
channels. Also the company started Geox School in 2001. This was a training centre which prepared new recruits, providing training on company policy,
the characteristics of Geox products and the business development needs of the group. Geox operated in a fashion-conscious industry, so he the best
designers so that each new collection of shoes is created by them. In 2002 the company entered into the apparel market with a patented jacket that allowed
air through at the shoulders. In December 2004 Geox was listed on the Milan’s stock exchange. In April 2009, Geox added to its sporting goods products
and launched its product range, which Polegato claimed was in response to customer requests. Geox outsourced most of its production to factories in
China, Vietnam, Indonesia and Brazil. Geox was affected by the recession in 2009 that lead to a 9% drop in shares value so the company took a decision
not to open any new stores during 2009 in the US.
Key facts & issues –
Brand name – Geox was established by Mario Moretti Polegato in 1995.
Consolidated sales for Geox – as on 28th July, 2009 – $ 653 million.
Geox entered apparel market in 2002.
In 2009, after 14 years of operations, Geox became 2nd largest player in casual lifestyle footwear market. Presence in 68 countries – 10000 multi-brand
