Change of CEO for Geox amid ‘complex context’
20/01/2020
On reporting the figures, Geox announced that it was bringing in a new chief executive, Livio Libralesso, in place of Matteo Mascazzini.
Chairman and founder of the brand, Dr Mario Moretti Polegato, said 2019 had been characterised by “a particularly complex context”. He said: “The entire sector is witnessing a significant restructuring process, mainly due to the profound change in consumers’ buying behaviour, with digital solutions becoming increasingly popular. These factors are leading to a substantial reduction in footfall in physical stores, especially those in less desirable and not very strategic locations or in countries characterised by socio-political tensions.”
Geox opened 68 new stores in 2019 but closed 109. Nevertheless, it ended the year with 409 directly operated stores (from a total of 974), which five more than in 2018.
Share this story:
