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Geox to double stores following strong results.

Geox is planning to ramp up its worldwide retail presence by taking stores from 724 to 1,500 in two years, on the back of a strong performance in 2007.

Italian footwear brand Geox increased EBITDA by 31% to €200.9 million (£152.2m) during 2007. The business also expects to continue its rate of sales growth at around 20% annually over the next three years.

Chairman and founder of Geox, Mario Moretti Polegato, said: "The results achieved by the Geox Group in 2007 are further confirmation of the strong potential of our brand, the success of our patent and solidity of our business model. Today Geox is ready to face a new round of expansion, which will lead to a consolidation of our leadership in Europe as well as considerable international growth."

The Italian market accounted for 38% of total sales amounting to Euro 294.5m (£223m). During the period, Europe, excluding Italy, generated 44% of sales amounting to €342.3 million (£259.2m), a 30% increase on the year before.

The USA reported an increase in sales of 28% and the other countries, including the UK, reported an increase in sales of 70%.

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