Gino-Rossi plans IPO in mid 2004 and joint production with Geox

In the middle of 2004, Słupsk-based Polish-Italian shoe producer Gino-Rossi plans to enter the Warsaw Stock Exchange and collect between zł. 40-50 million from the floor. Money from the issue will be spent on developing the company, which should translate into a 60% sales increase over the next four years. The enterprise has created its own network of stores, which will top 65 by the end of 2003. It is estimated that the company has a market share of about 25% in the upper segment of casual shoes sales. Gino-Rossi plans to expand its retail network to 100 stores, plus an additional 30 in Germany, Scandinavia, the Czech Republic, Slovakia, Hungary and Austria over the next four years. For the last few seasons, Gino Rossi had the exclusivity to sell the shoes of Italian shoe producer Geox. Mario Moretti Polegato, owner of Geox, told Rzeczpospolita that both entities planned joint production in Poland. In 2002, Gino-Rossi had revenues of over zł. 78 million, which will shrink to zł. 72 million in current year. (Rzeczpospolita, p. B5) M.M.