New Path for Nice Footwear. The Vicenza-based company is almost ready to begin a strategy with three pillars – transformation, innovation and internalisation – with the goal of relaunching growth for its foreign sales.
The company, who licenses different brands such as Conte of Florence, Ellesse and Avx Avirex and owns Kronos, a brand of sports footwear focused on running and football, set up a new brand last May. Nice Footwear Asia, with headquarters in Hong Kong, will handle the development of Asian markets and quality control of the entire corporate production.
This project in Asia enjoys the support of the company’s good performance. In 2017, it recorded an increase in turnover of 35.4% which went from 9 to 2.5 million euro. For the current year, estimates forecast that turnover could top 14 million, with a growth rate of 15 percent. Their EBITDA is around 9 percent, instead.
Moreover, the medium term corporate plan involves also innovating the product, improving relationships with clients through prompt service in terms of deliveries and pre- and post-sales service, while also increasing penetration in large overseas brands.
It was crucial to adopt a specific brand policy, working as an intermediate “specialised” company for third parties. The encounter between advanced foreign companies in China and the intermediate specialised company – Nice Footwear – tends to define new corporate relationships in the most advanced international district experiences, which base the competitive edge on higher end Asian manufacturing capabilities coupled with the innovative technical abilities of Italian design.
They want to aim for a completely autonomous design, which they created and that can be identified as “Made in Italy”. The shoes and boots are then produced under the management and control of Nice Footwear in selected international production districts with the strictness of far eastern Asia: China, Hong Kong, Korea, Taiwan, Vietnam and Cambodia.
Nice Footwear, lastly, appointed its new Board of Directors at the beginning of July. This Board will remain in office until 30 April 2021, after the approval of the balance sheet. Along with Bruno Conterno, founding shareholder and new CEO, the board is made up of Francesco Torresan (COO, technical director and product R&D manager), Angelo Sinico (CFO) and Andrea Pellizzari (director). In fact, the aim of these appointments of the new BofD was to structure delegations in the various corporate areas to take weight off of Conterno, who will then dedicate his energy to increasing the brand’s presence abroad.