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Obuv Rossii’s August sales rebound sharply
Obuv Rossii has enjoyed a strong rebound in sales. In August, the company’s revenues increased by 1.5 times compared to July and exceeded 1 billion rubles (€13.3m -$11.2m), achieving the highest monthly level this year. Its top line exceeded by 16 percent the average monthly revenues seen in the first ...
Inditex returns to profit in Q2
Inditex , the Spanish group that owns the brands Zara, Pull Bear, Massimo Dutti , Bershka, Stradivarius, Oysho, Zara Home and Uterqüe, returned to a net profit of €214 million in the second quarter ended on July 31 compared with a 409 million loss in the first quarter. Financial analysts ...
ANWR footwear revenues drop 19% in first seven months of the year
In the first seven months of this year, the total business volume of the ANWR Group went up by 53 percent to €10.2 billion, driven by a 76 percent increase to €8.6 billion in financial services, but the buying groups of ANWR suffered a 10.7 percent decrease in their own ...
Tod’s posts operating loss in H1, low visibility on future trend
The Italian shoe maker Tod’s posted operating losses in the first half of 2020 due to the impact of lockdown and travel restrictions adopted to tackle the spread of the Covid-19 pandemic. It signaled that the start of the third quarter was better than the trend seen in the previous ...
Allbirds raises $100 million in funding round
Allbirds, the Californian brand of sustainable footwear, has closed a $100 million Series E funding round led by Franklin Templeton, alongside T. Rowe Price, Baillie Gifford, TDM Growth Partners, Rockefeller Capital Management and other investors.
VRG reaches deal with creditors, to proceed with capital hike
The board of Venue Retail Group (VRG), a retailer of shoes, bags and accessories that operates in Sweden and Norway, has decided to proceed with a Swedish Krona 94.5 million (€8.9m-$10.4m) rights issue.
Brand reshuffle in the Brazilian footwear industry
An asset reshuffle involving three of Brazil’s leading footwear manufacturers will result in Grendene boosting its women’s collection, Vulcabras Azaleia focusing on sportswear and Alpargatas concentrating on its key brands, including Havaianas.
Sioux completes restructuring of wholesale division
Less than three months after filing for insolvency, Sioux GmbH successfully underwent a restructuring that will allow the wholesale business to remain part of Sioux Group.