Fedon closes 2004 with 57,268 million euros

Giorgio Fedon & Figli SpA closed financial year 2004 with 57,268 million euros. Bearing in mind exchange rate variations and tougher competition from the Far East, the result is in line with expectations.

'In 2004', commented Group president Callisto Fedon, 'we confirmed the soundness of investments made in improving competitiveness. After optimizing logistics and production cycles and improving automation, decentralization was strengthened at the same time as maintaining an important presence in Italy at the service of European clients who not only want extremely competitive prices, but also increasing levels of image and service. Although the economic framework of the eyewear sector is fairly difficult, there is constantly positive appreciation of our products by foreign markets which see Made in Italy as a synonym for good taste, quality of life and pleasure in intrinsic beauty'.

Constant growth in turnover for the Giorgio Fedon 1919 line of leather and office articles (+54.4% compared to 2003), a new entry which in just a couple of years has acquired an important space in the top segment of the sector.

Production now has a double 'heart'. Cases for glasses, which are highly functional and always in line with new design and fashion trends, have been joined by small leather articles: innovative, refined and top-quality items for personal use or to gift. Successful proposals, such as diaries, watches, notepads, card holders, key rings, cigar holders and many more, created to stylishly personalize the working and study environment. A total of over 70 million items, including eyewear cloths and accessories.

The portfolio of orders also has a positive note and stands at 17.2 million euros, 15.2 million of which from Italy and 2 million from foreign subsidiaries.