Pittards well placed to grab new footwear opportunities
03/04/2018
He made the comment in the UK-based group’s annual report, which showed revenue of £30.3 million for the year, an increase of 12% compared to 2016.
The company attributed this growth to increased volumes in its existing markets in the UK and Ethiopia. Its profit before tax was £400,000, driven by higher turnover and operational efficiencies.
Mr Yapp said the footwear and performance glove markets remain the foundations of Pittards’ business. He added that the company is targeting new customers within its existing markets and intends to capitalise on the growth of the athleisure and outdoor footwear categories.
“Our established UK footwear leather manufacturing capability and expertise is well placed to meet the needs of leading brands in this sector who are prioritising differentiation and innovation,” he said. “In addition, global companies are increasingly looking to Ethiopia as a manufacturing location creating a further opportunity for Pittards Ethiopia.”
In November 2017, Pittards opened a new shoe factory in Ethiopia, adding to the tannery and glove-making facilities it already had in the country. The shoe-making unit in Addis Ababa employs 70 people who are hand-stitching shoes for footwear brand Soul of Africa. It brought Pittards’ total workforce in Ethiopia to 1,500 people.
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