Tavex has reorganized its management and market areas divisions. As of now, José-Luis Zabaleta is the new general manager for operations in Europe, Zabaleta previously worked as sales manager Europe; Gilberto Mestriner Stocche is the new general manager for denim Brazil and denim North America, he previously worked as marketing director corporate; Mauro Santos Preti, newly hired by the company, is the new general manger for its workwear division for Argentina and Brazil and its denim division for Argentina; Ruben Bernat Enguidanos is new general manger of corporate service, he previously worked as corporate financial director; and Ricardo Antonio Weiss, previously CEO of Tavex, has left the company.

Tavex is a worldwide specialist denim manufacturer and currently has the capacity to produce around 160 million meters per year of denim fabrics and cotton, and mixed fabrics for sportswear and workwear. They sell to over 50 countries and have plants in Brazil, Argentina, Morocco and Mexico.

The Tavex Group ended the first quarter of 2013 with revenues of €91.5 million, a fall of 21.1% (12.6% excluding exchange rates effects from Brazil and Argentina) on the same period of 2012. This fall in sales was mainly a result of the delay in the return to the growth rates of previous years in the Brazilian economy, together with the flat development of consumption in Europe and the highly competitive market in the United States.

The company expects an improvement in economic activity in South America over the rest of the year. In Europe, private consumption is expected to grow slightly in the second half of the year.

The company expects that the strategy of focusing on the premium market, together with the adjustments in inventory and the resolution of a series of production problems will help to improve operating margins. In North America, the group expects to maintain positive growth based on favourable macro forecasts. Similarly, the positive perspectives for the American jeans market and the competitiveness of their plants in Mexico will allow the figures to be consolidated.