Is there a way for a retail company to ensure profitability as consumers decrease their spending?
Mario Moretti Polegato: In my opinion, there is just one way to protect business in this particular moment. There is a crisis, a problem, in every business: shoes, apparel, etc. But when you have one good idea, and your idea is patented, you create a unique market, and nobody has the possibility to compete with you. In Geox’s experience, for example, we offer to the consumer a technology that improves the life of the population: the breathable sole. We are in the heart of the crisis, but Geox invested in technology 13 years ago, and now we receive the benefits of our innovation. In this crisis situation, Geox is again investing in stores. We plan to open in the next two years another 500 monobrand stores. Geox is trying to branch into apparel and sports shoes–why not just stick with what’s made you successful so far? Geox invests 3% of its annual turnover in research. We have a collaboration with universities in Milan, Padua, Munich and Oslo. We discovered that not only do feet need t
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- Is there a way for a retail company to ensure profitability as consumers decrease their spending?
