The expansion of Nice Footwear continues, the Vicenza-based company specializing in sports footwear which is now also entering the luxury market with the acquisition of Favaro Footwear Manufacture, a reality that represents excellence in the production of women's shoes in the Brenta Riviera district. Founded in the 70s in the province of Venice, the company has become an icon of Made in Italy and works with the most prestigious international fashion houses. The operation is part of Nice Footwear's ambitious 2021-2025 plan, which comes from a period of constant growth, with 2 new showrooms inaugurated in Milan and Hong Kong in 2019 and revenues equal to 24 million euros in the period 2019-2020.
Nice Footwear deals with the development, production and distribution of shoes for leisure and sport, currently through its own brands (Kronos) or under license (Fred Mello, Ellesse, Avirex and Conte of Florence). “The negotiation started for the acquisition was rapid, despite the still critical moment due to the global situation – comments Bruno Conterno, CEO of Nice Footwear -, we believed from the outset in the potential and values of the shoe factory and in a shared future. The acquisition is part of the development path of Nice Footwear which began in 2020 with the issue of the Minibond listed on ExtraMotPro3. This is an important milestone and a starting point for the company which today expands its presence in Italy thanks to "Made in Italy" production, reinforcing the strategy, oriented towards implementing new channels and results, with a growth plan which aims more on collaborations with premium brands”.
“We are two complementary companies and thanks to the synergies and development plans resulting from the integration of our company with Nice Footwear, it will be possible to consolidate and increase the potential of our shoe factory. A new path is opening up for Favaro Manifattura Calzaturiera that projects us into a new future, giving continuity to the tradition and passion for the typical qualities of the made in Italy craftsmanship that distinguish us", he added Floriano Favaro.
