According to unofficial sources, strategic decisions are about to be made at Gino Rossi clothes and shoes group. Last week, the supervisory board approved of the new strategy for the upcoming three years. The management refuses to give details.
“We will develop as fast as we have so far”, Maciej Fedorowicz, Gino Rossi CEO said.
Sounds good. Since its IPO, the capitalization of Gino Rossi has grown from PLN 163.44m (EUR 42.9m) to PLN 328.25m.
So far, the company used to launch several dozens shops annually. It has the following brands: Gino Rossi, Geox, Vanita and Simple. The group will need more cash to continue the policy. It has spent the funds raised in the last issue.
“We invested the majority in shops, PLN 6m was spent to build a distribution center in Slupsk, and PLN 3m are the costs of the issue”, Maciej Fedorowicz said.
It looks like Gino Rossi issues new shares soon. The issue could be similar to last year’s one when the company raised PLN 36m. The group is also searching for new targets.
“We are leading advanced talks with a Polish and a foreign company. We would like to introduce a new brand this year. We will either buy it or build it from the very beginning”, Maciej Fedorowicz added.
Gino Rossi had forecast PLN 170m of sales and PLN 12.5m of net income this year. The company may revise the forecasts up. Last year, the company had PLN 117.4m of sales and PLN 9.6m of net income.
(PLN 1 = EUR 0.263)