Geox S.p.A., the Italian footwear brand, reported sales declined 8.3 percent in 2025 to €608.7 million ($703 mm), or 8.5 percent at constant exchange rates. Excluding the impact of the closure of subsidiaries in China and the United States, as well as certain unprofitable channels, sales declined 5.3 percent.
During the second half of 2025, management implemented a plan to resize its operational structure, which, combined with the ongoing efficiency measures for several months, enabled further savings of about €27.4 million in operating costs.
As a result of these steps, adjusted EBIT (earnings before income taxes), net of non-recurring items, totaled €9.0 million in the year, slightly above the year-ago level of €8.8 million despite the sales decline. Adjusted EBITDA excluding IFRS 16 impact was €24.8 million, compared to €26.2 million in 2024.
The net loss in 2025 of €16.2 million was nearly halved compared to €30.3 million in 2024, mainly thanks to a lower impact of financial income and expenses. Non-recurring costs were €12.1 million in 2025, down from €13.0 million in 2024. The decline reflected negative $10 million in exchange-rate headwinds due to the depressed valuation of the Russian Ruble and lower interest expense of approximately €1.7 million.
Geox’s CEO, Francesco Di Giovanni, commented, “2025 was for Geox a year of deep revision of the operating model, leading to a significant reduction of the cost base, the first benefits of which have already emerged during the financial year just ended. In a market environment still impacted by a contraction in sector consumption, which led the Group to record a sales decline of 5.3 percent versus the same period last year on a comparable basis, the initiatives undertaken have already delivered tangible results: the net loss for the year was halved compared to 2024, and the bank debt significantly reduced, standing at €92.6 million.
“During 2025, Geox accelerated a series of initiatives aimed at strengthening margins and rationalizing less profitable distribution channels, enhancing at the same time the efficiency and sustainability of its own operating model, through the optimization of fixed costs and an increased capacity to absorb them. To support its future targets, new patented products were developed during the year, allowing us to look forward to the next phase of growth with renewed determination. Leveraging its expertise and technological innovation capabilities, Geox is preparing to launch revolutionary solutions initially targeted at its own retail network. The technological components, which have always been the core part of the brand’s heritage and value, have been brought back to the center of the Group’s research and development strategy, as well as its commercial and marketing activities. The company has also entrusted the style development of the entire adult collection, and in particular the women’s collection for the SS27 season, to a globally renowned design studio, which is an international benchmark in footwear design. This collaboration brought fresh creative and stylistic energy to the Geox brand’s offerings and will further strengthen its positioning and appeal in the markets.”
Image courtesy Geox
