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Italian shoemaker Geox to invest $125 million in five-year plan

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Italian shoemaker Geox plans to invest about 120 million euros ($125 million) as part of an industrial plan to 2029 and has signed a five-year deal with a leading Chinese operator to expand its presence in the country.
Italian shoemaker Geox has announced a 125 million euro investment plan over the next five years aimed at enhancing its market position. The strategy includes a focus on product innovation, expanding its store network, and improving its online presence. CEO Enrico Moretti Polegato emphasized the importance of adapting to new consumer behaviors and market trends, particularly in the post-COVID era. The investment will also support sustainability initiatives, with a goal to reduce the company's environmental impact through more eco-friendly production processes. This move comes as part of Geox's broader strategy to recover from recent sales declines and to strengthen its brand in both domestic and international markets.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/retail-consumer/italian-shoemaker-geox-invest-125-million-five-year-plan-2024-12-31/ ]