Fedon continues to progress after the difficulties experienced over the past four years. The Italian company, which produces eyewear cases for the major players in the industry, closed the first nine months of this year with sales up by 5.8 percent year on year, reaching a level of €41.9 million for the period. Fedon reports that net profit for the nine-month period doubled, and that the net financial position improved by 23 percent.
These figures confirm a positive trend that started in 2010, when the company went into the black on a sales increase of 21.2 percent. The current financial year should close with a confirmation of this trend, with sales rising to just below €60 million and profitability rising sharply after drastic cost-cutting, including the reorganization of the group's head office and its subsidiaries.
Maurizio Schiavo, general manager of Fedon, has announced a new three-year plan for the 2012–2014 period, whose implementation will be overseen by Alberto Agostinacchio, who has been heading up the company's activities in Asia.
The plan has two strategic objectives, the first of which is to develop the Giorgio Fedon 1919 brand of leathergoods, which still has a marginal share in the group's overall business. The second is to widen the clientele for Fedon's core business to include the optical retailers themselves, rather than just eyewear producers. The plan should take the annual turnover up to the €70 million mark and generate an operating margin before amortization (Ebitda) of 15 percent of revenues.