Słupsk based shoe company looks set to expand in the US and Europe

Gino Rossi, the Słupsk-based Polish-Italian venture specializing in footwear, has announced ambitious plans to develop its network of outlets throughout Europe and North America. The execution of this plan is estimated to cost the company around zł. 40 million, and therefore Gino Rossi are currently seeking a financial investor, willing to increase the manufacturer's capital by the amount in question. The strategy prepared by the company's management envisages a share issue to the new investor and a debut on the Warsaw Stock Exchange (WSE) probably in 2005, which would facilitate the new partner to withdraw from the investment. "We have talked to various venture capital funds, however they expect a return on capital of 20% - 25%, which in this industry is impossible to obtain," said Maciej Federowicz, Gino Rossi President. According to sector analysts, the company will face serious problems in obtaining this level of funding, as other investors will also expect a similar rate of return. (Puls Biznesu, p. 8) A.K.