Fedon: upturn for 1st quarter of 2003

Fedon, the leading company in the eyewear cases and accessories sector, recently communicated the data for the first quarter's trend. At 06.30.2003 the group's turnover had in fact risen to 31,310 million euros, and increase of 11.4% compared to the same period 2002.

'An excellent result' said president, Callisto Fedon 'and despite the crisis that continues to penalize the eyewear sector, it consolidates the acceleration that began in the second quarter of 2002. It is a reflection of the Group's solidity, the considerable commitment of the entire organization, the success of the new collections, and a comforting portfolio of orders amounting to 16.3 million euros.'
The strengthening of the structure at international level was also followed in the early months of 2003 with the acquisition of 100% of Fedon America Inc. at Norwell, the American partner which has been distributing Fedon products to North American and Canadian markets since 1999.

Apart from the US, the group also has facilities and direct subsidiaries in France, Germany, Asia (in joint-ventures with Victoria Enterprises Ltd of Hong Kong), Slovenia and Romania, which produce and distribute over 65 million pieces (22% of the world market), which include eyewear cases, accessories, leather goods, writing and desk articles, with over 650 employees.

Fedon recently entered the latter sector with the Giorgio Fedon 1919 and SOS brands, aiming at diversifying production, exploiting its vast experience in quality craftsmanship, and at supporting new fashion trends and contemporary lifestyles with top-of-the-range proposals featuring a sober and minimalist image.