Italian $1 billion shoemaker Geox CEO visits his Iran operation
The Italian public shoe-maker Geox, with a $1 billion valuation, has been operating in Iran since 2008. Recently their chairman visited Iran and provides interesting details on their Iran operation.
Through partnership with their Iranian partner Caspian Mode, with seven shops in four different cities, they have already sold around 85,000 pair of shoes and 15,000 of different clothes. They expect this to double in the next few years.
Geox and its Iranian partner Caspian Mode is listed in the Directory of Foreign Companies in Iran with the code XJ174.
More details follows
The founder and president of Italy's Geox is in Tehran to supervise his footwear company's business in the country and address a seminar.
Mario Moretti Polegato, the revolutionary inventor of "breathable" shoes, talked to reporters about his success story, but also fielded some tough questions.
One reporter asked whether his company observed Islamic laws of slaughter in producing leather for their products.
"In our exports, we observe Iran's laws and try to respect cultural and educational issues. However, your question is a technical and specialized one and I have no idea to answer it," Tasnim news agency quoted him as saying.
His representative in Iran was on hand to take the question, "Given that Geox's products are exported to Muslim countries such as Malaysia and used by European Muslims, Islamic slaughter standards are observed in making leather."
Moretti Polegato's revolutionary idea of boring holes in his shoes on a hot day and applying the method in shoemaking catapulted him from rags to riches.
He is currently a famous Italian billionaire, worth $1.9 billion.
The Iranian shoemaking industry is already under pressure from a flood of cheap Chinese products which have forced many small-size production units to shut down their businesses.
A local maker of handmade footwear is seen at his workshop in Iran's northwestern city of Zanjan.
Iran's Minister of Industry, Mine and Trade Mohammad Reza Nematzadeh is currently visiting Milan to attend Expo 2015 which is being touted as a global showcase of food, culture and technology.
According to IRNA, he met with a group of Italian owners of industries who expressed interest in resuming trade with Iran.
"Italian companies are hopeful to resume their economic cooperation with Iran after sanctions are lifted, which we welcome," the news agency quoted Nematzadeh as saying.
"Ignoring Iran's big and strategic market is not possible any more and we hope to turn again to Europe's leading trade partner with Iran," head of the Italy-Iran Chamber of Commerce Rosario Alessandro said, IRNA reported .
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