Fedon: new monobrand stores in New York and Paris

Over the forthcoming weeks, two new Giorgio Fedon 1919 monobrand stores will be opened in New York and Paris. The line of office and travel leather accessories is meant to acquire increasing space in the Fedon group's product diversification schedule.

In New York, the store is on Fifth Avenue in the heart of Manhattan. Chairman Callisto Fedon explained that the choice of Paris was almost a duty: 'We have been listed on the Paris stock exchange since 1998, but we also wanted to have direct visibility for our luxury accessories brand', he told the newspaper Il Gazzettino.

2005 will close with consolidated billings of 61 million euros, the order portfolio is very healthy at 17.5 million and exports represent around 40% of turnover. In 2006, growth is envisaged for external lines through new acquisitions, which could involve the core business (glasses cases) and the leather line, which currently represents 5% of billings and therefore has ample room for expansion.

'The aim is to strengthen direct distribution also in Germany, and a project already exists for entering Spain, the United Kingdom and Japan', Fedon explained.

The business plan currently being fine-tuned by the group indicates two-figure growth for the next 3/5 years.

(Source: Il Gazzettino)