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ABOUT GOLDEN LADY

Established in 1966, Group Golden lady S.p.A, has became one of the biggest World producers of hosiery. Beside this, company produces fine underwear and swim wear. In September of 2001, famous Italian socks manufacturer opened its first factory in Serbia under the name "Valy" in Popučke near Valjevo. Golden Lady Group has 15 factories: 9 in Italy, 4 in the United States of America, 2 in Serbia and sells network of 450 shops and in total employs 5,500 workers worldwide. The famous brands Golden Lady, OMSA and SiSi have 10% of the European market, of which 43% is Italian.

WHY SERBIA?

One of the main reasons for Golden Lady to choose Serbia as the location of our new production investment is its strategic logistics position and strategic role of a link between Central Europe and all the emerging markets of Eastern Europe, particularly Russia.

SERBIA-EXPERIENCE

In the mid 2003, the company invested €12 million in the largest hosiery factory in Eastern Europe, in Valjevo, suburb Belosevac. The new factory has been opened in 2005 and produces 50 million pairs of socks per year. In both plants, it employs nearly 1,000 workers. With continuous investments in new facilities and equipment this company is among the most important textile exporters in Serbia. The production of socks is disposed to markets of Serbia, Italy, Ukraine, Germany and former Yugoslavia.

FUTURE PLANS

As regards the possibility to import machinery duty-free, this has also represented for our Group a really strategic economic advantage that strongly contributed to the implementation of our investment project in Serbia in such a large amount.

RECOMMENDATIONS

The Greenfield financial contribution of nearly €3 million, approved by the Serbian Government, has been one of the elements that persuaded the Golden Lady Group to realize such a challenging investment, amounting to €100 million, in the Republic of Serbia. Final decisions have definitely been influenced by all other factors considered favorable and interesting to Golden Lady. They include tax relieves for corporate income taxes, the treatment of dividend distribution to the foreign parent company (the so called "repatriation of dividends freedom"), and all the free trade agreements with Balkan countries and Russia.