ITALIAN ENTREPRENEUR Mario Moretti Polegato, founder and chairman of footwear giant Geox, has signalled his confidence in the Irish market with the official launch of a new concession at Arnotts department store.

While the brand is best known in Ireland for its children's shoes, it is ranked only second behind Clarks as the largest casual footwear brand in the world according to Shoe Intelligencemagazine.

The company has signalled its intention to expand into the Irish market with the introduction of children’s apparel and possibly the introduction of women’s wear in the autumn. The brand was established in 1995 and is known for its “breathable shoes”. It is stocked in over 10,000 stores worldwide.

“We plan to continue our expansion into the Irish market with expansion into multi-brand stores, followed by standalone stores in Dublin and Cork at first, then other larger cities,” said Mr Polegato who was awarded Innovator of the Year by CNBC and the Financial Times at last year’s European Business Leaders Awards.

Mr Polegato said Geox’s figures had remained flat for the past two years due to his decision not to push business expansion in times of global market challenges.

Eastern Europe and Russia had presented particular difficulties for the company, he added, but its new forecast suggested a turnaround.

Mr Polegato said the rapid success of the brand, which is listed on the Milan Stock Exchange, was due to constant innovation and the “combination of Italian styling with technology”.

Last month the company announced its partnership with the Red Bull Formula One racing team and unveiled a new technological shoe for drivers.