Italian brand Valleverde has reported its results for the 2022 financial year, achieving an increase in turnover of 78.6% year-on-year, writes ILM.

The company, which produces shoes and accessories and is owned by Elvio Silvagni’s Silver1 Group, achieved a turnover of €25 million in 2022, up from €14 million in 2021 and €17 million in pre-pandemic 2019.

Valleverde reported that 65% of its turnover in 2022 came from its women’s shoe business, while the remaining 35% came from men’s shoes, juniors and accessories. It distributed to more than 1,200 multi-brand stores last year and produced more than 600,000 pairs of shoes, with production split between Italy and Romania.

While Italy has historically been the brand’s main market, it is now looking to expand in Europe, focusing first on France, Greece, Switzerland, Austria and Germany.

Silvagni said: “We invest in research, development and in patenting new technologies. It is the only thing that saves us from competition coming from Far East. In terms of design, today we focus on more fashionable shoes than in the past: young people aged 30-35 are very interested in these new products, and we hope they will be more and more. For the past 10 years, sneakers have been at the top of consumers’ wish lists, but today we’re seeing a return to elegant shoes.””