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The Warsaw Voice » Business » November 19, 2008
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Shoemaker Rides Financial Turmoil
November 19, 2008 By A.R.    
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The NG2 group, Poland's biggest shoe distributor and one of the country's largest shoe manufacturers, plans to increase sales and expand its sales network despite the financial crisis raging in the world.

NG2 has an 8-10 percent share of the Polish shoe market. It trades via 557 stores under the brand names of CCC, Quazi and Boti.

In the first nine months of this year, the group added another 86 stores to its sales network. By the end of the year, it plans to have opened some 50 CCC stores, eight Quazi boutiques, and 87 Boti stores in Poland, in addition to 10 CCC stores in the Czech Republic.

The group plans to further expand its sales network, particularly its Boti stores. Its goal is to own 600 Boti stores and franchise another 300. It also wants to have some 300 CCC stores and franchise another 130 in Poland, and own some 50 CCC stores in the Czech Republic. Its goal with regard to the Quazi brand is to expand the network to 100 stores.

NG2 CEO Dariusz Miłek says the company's main aim today is to generate higher sales per square meter of retail space. The corporation does not see the ongoing financial crisis as a threat, Miłek says. "We can only benefit as a result of the crisis," he adds. "We offer products in a medium and low price range. In a crisis situation, customers decide against expensive products and opt for cheaper alternatives."

The NG2 group reported record financial results for the first nine months of this year. Its sales were worth zl.543.8 million and were 43 percent higher than in the same period last year. Net profit more than doubled to over zl.76 million.
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