In discussing its latest financial results, Geox gave an update regarding the shoe factory it is building in Serbia, which is now scheduled to come on stream in September. The site is expected to make more than 1.2 million pairs a year at cruising speed.
The company has already hired 250 employees who are currently working in a building close to where the plant is being erected. They will form the “core employees” of the new facility, which will start with one production line in September. Manufacturing is scheduled to expand to three lines by the end of the year and 11 in the second half of 2016.
Geox noted that its capital expenditures in 2015 should reach about €42-43 million in 2015 due to the construction of the plant, in which it already invested €8.1 million in the first half of the year.