The CEO of the shoe producer has changed his plans. He does not want to consolidate the sector any longer. Instead of spending funds to buy a rival company, he prefers to launch several new shops.
“We don’t want to engage capital in a company which has debts and big inventories. Organic growth will be our priority for the time being”, Wieslaw Wojas, Wojas CEO said.
Several months ago, he mentioned possible merger with Protector or becoming part of Gino Rossi group. Now, the company wants to invest abroad only.
“We eye a Czech company. We would like to buy 16 shops from it and rebrand them into Wojas shops”, Wiesław Wojas said.
First Wojas shops abroad have been launched in Slovakia recently. The company will soon launch shops in Belarus.
Besides, the company plans a change in its offer.
“We want to have new, more elegant shoes. We will build a second network with the same Wojas logo but with different offer. We don’t want to build a new brand. It is the same with Mercedes which offers cars in different classes under one brand”, Wieslaw Wojas said.
The first such shop will be launched later this year. In the first two quarters of the year, the shoe group had PLN 30.7m (EUR 8m) of sales and PLN 2.1m of net income. At the end of the year, Wojas hopes to have PLN 94m of sales and PLN 6.3m of net income.
(PLN 1 = EUR 0.261)