Fedon: positive first quarter

The first quarter of 2006 for Giorgio Fedon & Figli SpA closed with a positive result at 15.025 million euros (+9.8%), while the order portfolio (18 million euros) is back to maximum levels, envisaging a promising 2006.

This upturn is due to the process, begun in 2005 and under completion in 2006, which includes investments in organization, IT and production, carried out both as regards capacity and service. A major commitment to the necessary restructuring of all the components in the entire production and logistics systems in Italy, China and Romania in order to foster the Group's competitiveness.

Moreover, these four months have been marked by the strong acceleration of the Giorgio Fedon 1919 label, whose sales were 71% higher than in the previous year. The line consists of bags and accessories for business men and women who travel and it combines creative innovation and craft tradition. This line is sophisticated, trendy and has a keen eye on fashion trends for women, characterized by noble materials and minimal design for men, also for leisure time.

The expansion program continues for the Giorgio Fedon 1919 directly-managed monobrand stores. After Milan and at the Company's historical HQ in Vallesella di Cadore, openings are planned for Avenue de l'Opera in downtown Paris and at NYC's Rockefeller Center.