Gioseppo stands as one of Elche’s historic shoe manufacturers, and its 2021 performance marked a notable rebound. The company benefited from a revived national market after the pandemic and from stronger demand in key European destinations, complemented by growing bets in Latin America. This expansion aligns with the Navarro Pertusa family’s strategy to diversify markets and minimize risk while pursuing sustainable growth across regions.
Following a revenue dip during lockdowns that temporarily shuttered retail locations, Gioseppo SL closed its 2021 financial year on November 30 with robust momentum. Turnover reached 33 million euros, up 19.08 percent from the previous year, and profits hovered around 2.9 million euros, reflecting a substantial increase of over 46 percent. The gains were driven by steady performance in Germany, Italy, France, and Greece, where distinctive Mediterranean designs resonated with local consumers, while a broader portfolio found traction in emerging markets.
The leadership points to Latin America as a major growth engine, highlighting markets such as Costa Rica, Mexico, and Puerto Rico as central to ongoing diversification efforts. This push is paired with the belief that exports already account for close to half of the company’s sales, underscoring a strong international footprint.
As part of its growth plan, Gioseppo aims to deepen its presence in countries where its products are already available. The leadership argues that expanding established markets can yield higher profitability compared to launching new but costly ventures, a view that guides current investment choices.
Beyond geographic expansion, the executive highlights the performance of new signature lines and especially the slipper segment, which has gained momentum in recent years as households spent more time at home. This shift supported product lines designed for comfort without sacrificing style, contributing to the brand’s broader appeal.
Another pillar of the strategy is the espadrille-focused Siesta line, regarded as a flagship within the brand’s sustainability program. The line emphasizes local production and the use of recycled materials, with all manufacturing taking place in Spain.
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While the full-year figures for the year ahead remain to be finalized, company leadership anticipates continued double-digit growth in the near term. The outlook for 2023 remains cautiously optimistic, with expectations of a slower but steady top-line momentum. Some orders for the spring/summer season have already been placed, and the company notes no meaningful slowdown in demand at this stage.