Geox is an unlikely shoe company that’s one of the world’s most profitable and fastest growing fashion brands. Aformer Italian vintner created it,
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It is 95 degress,
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Bending others to his enthusiasms part charm, part steely badgering has made Polegato wealthy. Last December Polegato floated 29% of his ten year old shoe company,
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Air Jordan 6 Retro GS size 36-40, shares are up50% and trade at a trailing P/E of 24. Polegato’s family stake cost him $1.2 million but is now worth $1.7 billion.

Sales? Just $415 million in 2004 but compounding annually at a 40% rate since 2000. That makes Geox the world’s fifth largest manufacturer in the $13 billion global market for "brown shoes." Italy’s financial paper Il Sole 24 Ore citedGeox as both the fastest growing Italian fashion label and the most profitable. Geox’s 2004 net margin (16%) beat Bulgari (13%),
jordan 1 low red, Luxxotica (9%) andBenetton (7%). A study of international peers by Banca IMI one of Geox’s IPO managers found only American pursemaker Coach had a net margin that exceeded Geox’s.

It’s a head scratcher,
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Selling footwear "technology," rather than fashion, is one answer. The clammy footed Italian was hustling his family’s vineyard (see box) when he first fumed that rubber soles couldn’t breathe. Three years later: a perforated rubber sole with a fibrous insert that draws sweat from the foot while preventing rain from entering the shoe.

Geox spends 3% of sales on footwear research. Nike and Timberland won’t reveal their R budgets, but high tech IBM spends between 5% and 6% of sales. "With this technology," says Polegato, his leg jiggling violently under the table,
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Polegato’s style is opera buffa he and his family have an eccentric habit of collecting honorary consul duties from small countries but those who have dismissed him have rued the day. Polegato spends 9% to 11% of sales promoting his wares,
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In short,
JORDAN 1 BLACK RED RETRO, the shoe firm invests in intellectual property,
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Japan, however,
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The point: outsourcing to Asia keeps the Italian company’s production costs rock bottom,
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Geox creates a platform to conquer a small corner of a domestic market,
AJ jordan retro 12 Super genuine playoffs size GS 36-40, builds up large volumes with children’s shoes, adds adult footwear and then marches out from that efficient base. It’s the reason Geox’s distribution costs in Italy are 2.2% of sales,
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Air Jordan 14 black Ferrari, where penetration rates and margins are growing rapidly. have been timid. attack. In November Geox will open a 6,000 square foot flagship store on 57th Street in New York City and by January four more company owned stores in the New York area, plus Boston, Atlantic City and Los Angeles. promotional campaign.

In a King of Prussia, Pennsylvania Nordstrom store,
jordan white grapes 5s AIR JORDAN 5 size 36-40, Geox shoes cranberry color moccasins,
jordan low carbon 11 size 41-47 real 100%, a pink Puma type sneaker have been abruptly moved from a sideshow of "European comfort" shoes to prime real estate in the center of the women’s department. Across the hall, in the men’s department,
jordan 13s retro black red, three Geox moccasins are still buried in a mishmash of brands. "We’re hoping to get more Geox," explains the men’s salesman. "Particularly tie ups. A lot of people have been asking for them."

Chief Executive Diego Bolzonello argues that Geox is different from the Birkenstock and Ecco brands; they’re comfortable but clunky. Geox,
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jordan Valentine 5s aj 5, in contrast, uses Italian design flair to create mainstream "shoes that breathe."

Risks?There are plenty,
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While those patents might have slowed Adidas’ and Nike’s counterattack,
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