Santoni’s growth slows, but at a rate that confirms the positive forecasts. The Corridonia and Marche-based company tells Corriere della Sera that it closed the first half of 2024 with a revenue of €60 million, or +8.6% compared to the same period of 2023. The performance is significantly lower than what Giuseppe Santoni, who returned as sole CEO of the company after Eraldo Poletto’s departure to Furla, had told the same newspaper in mid-June.
Santoni’s growth
In the first four months of 2024, in fact, Santoni claimed to have approached 40 million euro, a growth of 12.6%. Whatever the 6-months results, the forecast for the full year has not changed. Santoni expects to close 2024 with a 10.6% increase in revenue, to 125 million. The export share equals 90%, with the brand’s main target market being the USA. 30% of revenue comes from its own sales channels, such as direct stores and e-commerce. “We are in a positive phase, as we have invested a lot in distribution, and we expect an annual growth in storefronts of about 30%“, Santoni told Corriere della Sera. “The goal is to get to 35 own-brand boutiques by 2026, and by the end of 2024 we will open in Vietnam and Saudi Arabia”.
Training is important
The entrepreneur also spent time reiterating the importance of training new artisans, as they now work in new ways (lean manufacturing) and are supported by modern machinery to create innovative products. This company is collaborating with the Marche Polytechnic University and the University of Camerino to make a plant-based bio-polyurethane with the goal of eventually producing a biodegradable shoe. “We are 60 percent of the way there”, Santoni concluded.
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