MILAN, Dec 1 (Reuters) – Geox GEO.MI forecasts revenues rising 11% on average per year to more than 800 million euros ($906 million) in 2024, helped by marketing investments and expected growth in its digital sales channel, the Italian shoemaker said in a statement on Wednesday.
The forecast compares with a turnover of slightly over 600 million euros the group expects to post for this year.
Outlining its new strategy to 2024, the maker of breathable yet waterproof footwear said it expected to reach an operating profit margin of between 5-6% in 2024, compared with an operational breakeven in 2019, the year before the coronavirus pandemic had a serious impact on the fashion industry.
The company, which is due to outline the new strategy more in detail on Thursday, added it plans to invest around 70-80 million euros over the course of the new business plan.
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(Reporting by Agnieszka Flak, editing by Cristina Carlevaro)
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