A Rossi picture

The first three months of 2007 brought the producer and distributor of shoes and apparel, Gino Rossi, zł.44.4 million in consolidated revenue, 47.32-percent higher than in Q1 2006. Retail sales grew by 81 percent compared with last year.

Gino Rossi's CEO Maciej Fedorowicz says the higher revenues result mainly from intense development in the network of outlets. Weather conditions also played an important role as the early spring allowed the new spring collection to bring in a 47.5-percent share of retail sales. Another factor was the completion of the takeover of Simple Creative Products, a women's clothing firm that Gino Rossi acquired in November last year, as well as the takeover of 100 percent of shoe retailer Como.

When it comes to development, the company has been turning more attention to foreign markets, as 12 of 38 outlets will be opened this year outside of Poland. This year, the company has already opened subsidiaries in Australia, Russia and Denmark, where the first shop was opened in April.

"Our first shop in Aarhus [Denmark] has been operating for several days and this is too early to evaluate its activity, says Fedorowicz. "Still, we do plan to open new shops in Denmark, maybe this year. Scandinavia is our export priority." The company will also be strengthening its position in Germany, the Czech Republic, Russia, Ukraine and the Baltic states.

As for possible takeovers, Fedorowicz remains cautious. "[A takeover is] a long, hard process, and to plan any concrete date is impossible." He is more certain about future sales though.

"Such dynamic growth of sales gives us promising prospects for the coming months," Federowicz said.