The world's leading supplier of eyeglass cases confirms that it will reach the turnover of 100 billion lire (e51.7m-$46.1m) that it had targeted for 2000, compared with 88 billion lire for the previous year. The final figure is actually likely to be even higher. Fedon is quoted on the over-the-counter market of the Paris stock exchange.
Fedon ended the third quarter with a 22.8 percent increase in turnover to 23.1 billion lire (e11.9m-$10.6m) . Revenues for the first 9 months of the year amounted to 76.7 billion lire (e39.6m-$35.3m), an increase of 17.55 percent.
The company's optimistic forecast is based on the fact that orders at September 30, 2000 were 54 percent higher than at the same date last year. The firm's new plant in the tax-free zone of Capodistria has been running at full capacity lately, producing around 20,000 units per day.
These increases are largely due to the complete integration of two companies acquired at the beginning of last year - Genetier in France and Kapunkt in Germany - and to the new US subsidiary, Fedon America, started up in partnership with Richard Hammel. The positive impact of the these operations had begun to show up in the first-half figures. Moreover, as the medium-high end of the eyewear case market has performed briskly, the average price of units sold has increased.
Fedon's recent diversification into desk-top articles such as diaries, pen holders and bloc-note holders should bring in considerable new business. This sector represents a very small percentage of turnover for the moment, but on-line orders are starting to come in from companies that are used to business-to-business transactions on the internet. Anyway, Fedon's desk-top products are already available in some 200 sales outlets. By the end of the year, the market will have given a clear signal as to what consumers think of the range.