Italian shoe manufacturer Geox is streamlining its operations and has officially announced the closure of its subsidiaries in China and the US by the end of the year. Geox stated that both companies contributed minimally to sales and operated at a loss. The company responsible for the US market, S&A Distribution Inc, reported sales of 9.6 million euros ($10.3 million) and an operating loss of 1.5 million euros ($1.6 million) in the 2023 fiscal year. Meanwhile, the Chinese subsidiary, Geox Trading Shanghai Ltd, which operates 12 stores, achieved annual sales of 13.8 million euros ($14.8 million) but incurred an operating loss of 2.4 million euros ($2.6 million). Geox disclosed that its China operations will be taken over by a “relevant international player,” with the partnership agreement nearing completion.