Italian footwear brand Geox has reported a significant decline in sales for the first half of 2020, largely due to the impact of the ongoing Covid-19 pandemic. Sales dropped by 39% to €243.6 million compared to the same period last year. However, Geox’s direct e-commerce channel experienced substantial growth, with sales increasing by over 40% year-on-year.

The Covid-19 pandemic had a profound effect on Geox’s sales, causing a downturn in the global economy and significant disruptions to health and daily life. Despite these challenges, Geox’s e-commerce platform remained resilient and saw strong growth.

Sales generated through wholesale stores amounted to €121.4 million, a decrease of €64.3 million compared to the previous year. The temporary closure of wholesale customers’ stores for two months contributed to this decline. Sales in the franchise channel also suffered, dropping by 53% to €17.8 million, while directly operated stores saw a decline of 40.6%, with sales of €104.4 million.

Geox experienced sales declines across all regions. In Italy, sales fell by 48.4% to €59.9 million, while European sales dropped by 34.9% to €113.7 million. North America saw a decrease of 46.6% in sales, amounting to €11.7 million.

Despite the challenging circumstances, Geox remains optimistic. Chairman and founder Mario Moretti Polegato acknowledged the difficulties caused by the pandemic but emphasized the company’s commitment to capitalizing on potential opportunities. Geox believes that it can navigate these exceptional circumstances and emerge stronger as a result.

The decline in Geox’s sales reflects the broader challenges faced by the retail industry during the Covid-19 pandemic. With physical stores temporarily closing and consumer behavior shifting towards online shopping, e-commerce channels have become essential for retailers to maintain sales and reach customers. Geox’s success in this area underscores the importance of a robust online presence and the ability to adapt to changing market dynamics.

In conclusion, Geox’s e-commerce sales have been a bright spot in a challenging retail landscape. As the world continues to grapple with the effects of the pandemic, brands like Geox recognize the value of investing in digital platforms and online sales channels. By doing so, they can not only withstand the current storm but also position themselves for success in the post-pandemic era.