The Italian footwear company Nice Footwear has booked orders representing a value of more than €12 million for the spring/summer season and expects to finish the full year, ending on April 30, 2021, with sales of more than €20 million. In the previous financial year, the top line totalled €23.5 million.
It noted that it has seen “comforting” signs during the order campaign, which was marked by further client diversification as well as negotiations with two new international brands, while two further brands are in the “pipeline.” It did not release details on the collaborations.
The company also plans to increase its sales in Asia, which are forecast to exceed €2.0 million within three years of the inception of its Asian unit. In its first fiscal year that ended on April 30, 2020, Nice Footwear Asia posted sales of €667,211.
In the first half ended on Oct. 31, the company’s overall revenues fell by 35.4 percent to €8.01 million. Sales were down by 17.2 percent to €3.76 million in Italy and by 15.8 percent to €1.83 million in France but exports to Switzerland grew by 9.4 percent to €2.41 million. The three countries represented over 99 percent of Nice Footwear’s revenues in the six-month period, with Serbia and China making up for the rest. However, Switzerland is a logistics hub serving export markets for many Italian brands.
In the first half, Nice Footwear posted Ebitda of €672,546 against €978,054 the previous year, while net profit slipped to €78,703 from €345,228.
The company, whose main office is in the northern Italian town of Vicenza, specializes in sports shoes. It holds licenses for Ellesse, Avirex, and Conte de Florence and produces white label sports and casual footwear for third parties. The company has worked with Lumberjack, Dainese, U.S. Polo Assn., Etonic, Skechers, Blauer, Napapjiri, Guardiani, Sparco and Champion. It also has a proprietary brand, Kronos, that specializes in sports shoes, mainly in basketball and soccer.
Nice Footwear cited a survey by Grand View Research predicting that the global market for sports shoes and sneakers will total $95.1 billion in 2025, representing an average annual growth of 5.1 percent.