Did you hear?... Hi-Tec Sports Plc buys distribution of its own brands in Italy

Hi-Tec Sports Plc has bought the distribution of its own brands in Italy by paying 500, 000 Euros (USD $502,000) goodwill for the acquisition of its former distributor.
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Hi-Tec Sports Plc has bought the distribution of its own brands in Italy by paying 500, 000 Euros (USD $502,000) goodwill for the acquisition of its former distributor. The company‘s new Italian subsidiary will be run by Dennis Dotto, a former Benetton Group executive who more recently worked as a vice president for the Stefanel Group. Claudio Passuello will remain in charge of sales and marketing for Italy. Hi-Tee has taken over the entire sales team of its Italian distributor, Popilia, which has done a very good job over the past seven years, in broadening the distribution of the brand's sports fashion range in the sportswear retail sector as well as developing a strong market position for the Magnum boot line in fashionable stores. Popilia’s former owner and managing director, Pietro Mazzilli, is retiring. Hi-Tec Plc reported that it performed relatively well in Europe last year, with a sales increase of about 15 percent, although no specific numbers were given. Sales have been growing in both Italy and Eastern Europe. Germany is making a comeback, and the brand has been working well with key accounts in the Scandinavian countries. The Benelux countries are still weak spots. The Spanish and French markets continue to make market gains by achieving a significant return for the group.

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