31/05/10
Content 31/05/10 <ul><li>Presentation of Geox </li></ul><ul><li>General overview of the market </li></ul><ul><li>Descripti...
Presentation of Geox 31/05/10 Shoes Garment Waterproof, breathable fabrics Italian brand Geo + X
General overview of the market 31/05/10 The Market :  footwear and garment  sectors Men’s, women’s and children’s Competit...
General overview of the market 31/05/10 MIT – Industrial Performance center Working Paper June 2005 How Geox has rejuvenat...
Description of the innovation 31/05/10 A  man : Mario Moretti Polegato The  idea : the shoe that breathes The  mission : t...
Description of the innovation 31/05/10 www.geox.biz www.geox.biz
Description of the innovation 31/05/10 <ul><li>History: </li></ul><ul><li>before 1995 : idea while walking – simple holes ...
Type and model of innovation 31/05/10 <ul><li>Technology innovation : technology that breathes </li></ul><ul><li>Use of  n...
Resources implied by this development 31/05/10 <ul><li>Heavy investment  in R&D </li></ul><ul><ul><ul><li>unusual for a sh...
Protection 31/05/10 “ Fear to be copied” Over 30 patents Registered first in Italy than extended internationally Patent s:...
Marketing strategy 31/05/10 <ul><li>Blue Ocean Strategy </li></ul><ul><li>Creating a new market place rather than competin...
Marketing strategy 31/05/10 <ul><li>Target market : mid to high-income customers </li></ul><ul><li>All ages and lifestyles...
Competitive advantage 31/05/10 First in the field : No competition in the breathable shoe market Research and development:...
Observed Results 31/05/10 1st in Italy  –  3 rd  in the world top ranking footwear brand (in 10 years) Big success:  20 mi...
Observed Results 31/05/10 Huge success in  children’s footwear Stars  wear Geox – influent customers Angelina Jolie Paul M...
Conclusion 31/05/10 References www.geox.biz http://archives.lesechos.fr/archives/2006/LesEchos/19764-36-ECH.htm Geox is a ...
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Innovation Case Study: Geox

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Innovation Case Study: Geox

  1. 1. 31/05/10
  2. 2. Content 31/05/10 <ul><li>Presentation of Geox </li></ul><ul><li>General overview of the market </li></ul><ul><li>Description of the innovation </li></ul><ul><li>Type and model of innovation </li></ul><ul><li>Resources implied in this development </li></ul><ul><li>Protection </li></ul><ul><li>Marketing strategy </li></ul><ul><li>Competitive advantage </li></ul><ul><li>Observed result </li></ul><ul><li>Conclusion </li></ul>
  3. 3. Presentation of Geox 31/05/10 Shoes Garment Waterproof, breathable fabrics Italian brand Geo + X
  4. 4. General overview of the market 31/05/10 The Market : footwear and garment sectors Men’s, women’s and children’s Competition in comfort footwear industry: <ul><li>classic </li></ul><ul><li>casual </li></ul><ul><li>sports </li></ul><ul><li>fashion </li></ul>sectors <ul><li>Nike </li></ul><ul><li>Reebok </li></ul><ul><li>Puma </li></ul><ul><li>Adidas </li></ul><ul><li>Timberland … </li></ul>
  5. 5. General overview of the market 31/05/10 MIT – Industrial Performance center Working Paper June 2005 How Geox has rejuvenated the footwear industry ?
  6. 6. Description of the innovation 31/05/10 A man : Mario Moretti Polegato The idea : the shoe that breathes The mission : technology that breathes Revolutionary idea – revolution in the footwear industry <ul><li>Geox breathes® </li></ul><ul><li>Holes in the outsole + Membrane fixed to the sole </li></ul><ul><li>Holes let perspiration from the feet out </li></ul><ul><li>the Membrane keeps waters out and the feet dry </li></ul><ul><li>the Membrane absorbs sweat and lets it out in the form of water vapor </li></ul><ul><li>The sole becomes breathing and waterproof </li></ul>
  7. 7. Description of the innovation 31/05/10 www.geox.biz www.geox.biz
  8. 8. Description of the innovation 31/05/10 <ul><li>History: </li></ul><ul><li>before 1995 : idea while walking – simple holes </li></ul><ul><li>1995 : 1 st patent in children’s footwear; the company starts up; extension of the patents to men’s and women’s footwear </li></ul><ul><li>1999 : Geox apparel: patents applied to garments </li></ul><ul><li>2001 : Patent a new technology using leather-sole, waterproof leather </li></ul><ul><li>2008 : New patents to conquest the sport footwear industry </li></ul>
  9. 9. Type and model of innovation 31/05/10 <ul><li>Technology innovation : technology that breathes </li></ul><ul><li>Use of new tools to test their products: sweat simulators, walkmeters, fleximeters </li></ul><ul><li>Innovations and patents (over 30 patents): </li></ul><ul><li>in chemistry, physics, orthopedics and foot ergonomics </li></ul><ul><li>in materials (leather) </li></ul><ul><li>in processes (glue saving assembly, …) </li></ul><ul><li>in equipment and machinery (shoe sole molding) </li></ul><ul><li>Technology yes, but comfort and fashion too! </li></ul>
  10. 10. Resources implied by this development 31/05/10 <ul><li>Heavy investment in R&D </li></ul><ul><ul><ul><li>unusual for a shoe manufacturer </li></ul></ul></ul><ul><ul><ul><li>3% of its net revenue </li></ul></ul></ul><ul><ul><ul><li>ex: 7.5 millions € in R&D in 2003 </li></ul></ul></ul><ul><li>Collaboration with Italian and international universities and research centers </li></ul><ul><li>Internal design center </li></ul><ul><li>Offshoring in Romania and Slovakia (manufacturing) </li></ul><ul><li>Outsourcing in Brazil and China (manufacturing) </li></ul>
  11. 11. Protection 31/05/10 “ Fear to be copied” Over 30 patents Registered first in Italy than extended internationally Patent s: rubber soled-shoes, waterproof leather soles, …. One original patent (expiration in 2009) + a dozen of other patents that makes impossible copying the quality of Geox shoes (e.g. patents on processes)
  12. 12. Marketing strategy 31/05/10 <ul><li>Blue Ocean Strategy </li></ul><ul><li>Creating a new market place rather than competing in the existing industry </li></ul><ul><li>Redefined the market space with its unique proposition </li></ul><ul><li>Communication budget = 10% of annual revenue </li></ul><ul><li>Building a brand </li></ul><ul><li>“ Diffuse innovation” - Innovation strategic role </li></ul><ul><li>Unique proposition, slogan (Geox breathes) all around the world and for all the market segments </li></ul><ul><li>Consumer-oriented </li></ul><ul><li>“ Family brand” </li></ul><ul><li>Most of the market segments covered (a large customer base) </li></ul><ul><li>Full ranges of models for different uses (casual, sports, fashion,…) </li></ul>
  13. 13. Marketing strategy 31/05/10 <ul><li>Target market : mid to high-income customers </li></ul><ul><li>All ages and lifestyles because no one likes to have his feet wet and smelly! </li></ul><ul><li>Pricing : high </li></ul><ul><li>Shoes sold in 68 countries </li></ul><ul><li>TV commercials : </li></ul><ul><li>explanation of the patent with images </li></ul><ul><li>funny commercials </li></ul>
  14. 14. Competitive advantage 31/05/10 First in the field : No competition in the breathable shoe market Research and development: a key competitive advantage Original patent and corollary patents : Impossible to copy the product A unique message that makes the difference : Geox solves the problem of transpiration that other shoes do not solve
  15. 15. Observed Results 31/05/10 1st in Italy – 3 rd in the world top ranking footwear brand (in 10 years) Big success: 20 millions pair of shoes sold in 2009 Introduction in the Milan Stock Exchange December 1 st , 2004 http://www.geox.biz/english/borsa.htm
  16. 16. Observed Results 31/05/10 Huge success in children’s footwear Stars wear Geox – influent customers Angelina Jolie Paul Mc Cartney Pope Benedict XVI Pope John-Paul II Obama’s daughters … A turnover of 250 millions € a year Business Week
  17. 17. Conclusion 31/05/10 References www.geox.biz http://archives.lesechos.fr/archives/2006/LesEchos/19764-36-ECH.htm Geox is a successful innovation-oriented company Innovation : basis, image and key competitive advantage of the company www.scribd.com

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