GEOX believes idea makes the difference
by Magdalena Rosova
Nowadays manufacturing jobs are disappearing from Western world. The current global crisis is serving as a wake up call for governments. To hold on what is left in their industrial heritage they have had to retired to protectionism. Companies with low-price products are still in the game and other need beat them by developing new creative products that will be worth of higher price. Mario Moretti Polegato, founder and President of GEOX, managed to develop a growing business in only few years time. GEOX company is based in northern Italy. The brand name consists of two elements. “Geo” originally comes from Greek word geo, which means earth and letter “x” symbolizes technology. Geox invented brand new technology, tiny holes in bottom of sole allows feet to breathe by letting air circulate in while keeping moisture out. GEOX is successful because it invests in both design and invention. It has stores in 69 countries worldwide. 3 percent of income! GEOX invests in research. The base of GEOX is placed in northern Italy, close to Venice and it employs 750 people aged from 20 to 39 or even older. Polegato says that GEOX was probably the youngest company in Europe saying that 90 percent of its employees are University graduates. Polegato thinks that the only way how to compete with Asian companies is to be creative and he adds that idea made a difference. All idea of GEOX is inc luded in the patent. Companies often don't wanna invest in patent saying that China would copy it anyway. But GEOX made patent also in China and no one can copy it. GEOX even has 20 stores in China. Most of GEOX shoes are not made in Italy. Even though the invention is kept in home base, shoes are produced in East Europe, Asia and Brazil. | by Magdalena Rosova for SigEx Ventures (http://sigexventures.com) |
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