GROTTO S.P.A. AND GAS
09 October 2004 - GAS Jeans

Up-to-date fashion items, quality materials and extensive production facilities are behind the growing success of Grotto S.p.A., the company that manufactures and directs the global distribution of GAS clothing.

The world of GAS and its fortune are based on strong values, a distinct identity, an inexhaustible,forward looking, entrepreneurial spirit and constant observation of young people and their world.

Grotto was founded in 1982 by Claudio Grotto in Chiuppano, near Vicenza in the industrial heartland of north-east Italy. Over the years it has strengthened its reputation through collections that are able

to satisfy the desires of young people who want to wear clothes that reflect their own personalities.

The values that form the base of the company philosophy, inherent in the ''Keep it simple'' concept, are: positivity, essentiality, functionality, spontaneity, practicality, quality and ''no waste''.

The company currently employs more than 300 people at the headquarters, which now covers 38.000 square metres, and another 1500 throughout its subsidiaries and production sites outside Italy.

The gradual development of retail points and the increasingly well-structured sales network has made GAS an international brand name. The products (about 6 million items of clothing per year) are distributed via a widespread sales network with a total 3500 retailers located in most parts of the world.

The success of the GAS brand can be summarised in a few figures. Its turnover increased dramatically by 60% from 1999 to 2003 and reached 130 million Euro in 2004.

Distribution, markets and stores.

Gas has more than 3500 retail points in 35 different countries, proof of its global presence. The brand is consolidating its position in the emerging markets of the Far East and Middle East. Exports account for 38% of the total turnover. Europe, with its 5 sites in Germany, France, Spain the U.K. and Hungary, currently takes in over half the exports. The Hong Kong branch has made important inroads into the Far East, where as well as the development of wholesale, the number of GAS stores is also increasing.

The presence of GAS in Canada is the first step towards the interesting U.S. market. The direct retail development plan is of particular importance. To date there are 29 GAS retail stores

owned by the company (including flagships, stores and outlets), and another 90 exclusive stores and concessions under franchise throughout the world. Apart from the Flagship Store in Milan, GAS Stores have been opened during 2003 in the trendy Harajuku area of Tokyo, in Nagoya and in Cologne, in the centrally located Hohestrasse.

During 2004 Gas opened stores in the following major international fashion centers: London (Flagship), Tokyo (3 stores, plus Osaka and Fukuoka), Taipei, Singapore, Seoul, Manila, Kuwait City, and Dubai.

On occasion of the first MotoGP race to be held in the Middle East, Gas will open its first store in Doha, Qatar, after having opened new corners in Cairo, Egypt.

www.gasjeans.de

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