After going through a couple of rough years due to the international financial crisis, Tecnica Group made a strong rebound in 2010, with sales increases for most of the brands in its large portfolio. According to preliminary figures, the group’s total revenues rose to about €378 million in 2010 from €342 million in the previous year, performing better than expected, and they are set to rise further to more than €400 million in 2011. This strong progress has placed the group on a more solid financial footing. The huge investments made by the group in the last few years with the acquisition of Nordica, Rollerblade and Blizzard have been felt on its balance sheet. The economic crisis led its bankers to tighten the screws, but the group managed to live with the situation without any change in its equity, cutting costs and selling a 30 percent stake in Lowa. Thanks to the new Tecnica Rolling System, the volume of Tecnica outdoor shoes sold grew by more than 20 percent in 2010, compared with the 381,000 pairs delivered in 2009. Think Pink is the only brand within the group that is not growing overall, but the management is working on its re-engineering. The initial results of this process will be presented at the OutDoor show in Friedrichshafen. (more in the last issue of SGI Europe).
