After two months of sales, the well-known Italian brand of comfort shoes has received initial orders for about 150,000 pairs for its spring/summer 2016 collection, developed very quickly after the bankruptcy court picked Silver 1 as Valleverde's new owner in May. Orders have been placed by 850 dealers, way up from around 200 accounts in the last few years.
Sales are expected to reach €10 million in 2016, almost entirely in the Italian market, up from €2 million in 2015. As Valleverde was sold in about 2,000 stores in former times, Silver 1 wants to treble deliveries for the next autumn/winter season and reach an annual volume of one million pairs in a short time.
Silver 1, which paid €8 million to acquire the brand, is a company owned by an entrepreneur, Elvio Silvagni, who is already producing shoes in the same region of Romagna successfully under the Goldsar and Biochic brand names. Silver 1 was one out of four bidders for Valleverde in an auction for its assets. Valleverde had gone into bankruptcy proceedings for the second time, with no investors willing to take over the brand during the last one and a half years of court administration.
Silvagni has indicated his intention to rehire 80 percent of Valleverde's former Italian workforce. He has already employed about 40 of them and invested €1 million in the reorganization of the brand's factory near Rimini. Part of the production in carried out in an Eastern European country.