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Article
Majo-Schuhe takes over three MyShoes stores
The family-run company Majo-Schuhe has acquired three stores from the footwear retailer MyShoes, a spokesman for the latter’s parent company Deichmann said, according to media reports. The takeover of the stores in Bad Vilbel, Friedrichsdorf and Groß-Gerau, in the Rhine-Main area, secures the jobs of 44 of the employees ...
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ArticleTheo Henkelman Footwear buys Bullboxer trademark rights for Europe
The Dutch footwear group Theo Henkelman Footwear has acquired the trademark rights to Bullboxer in Europe. The move marks the end of months of uncertainty for the Dutch brand, after in February the previous parent company, Unlimited Footwear Group (UFG), filed for bankruptcy. With the acquisition of the ...
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ArticlePrada Group’s sales driven higher by Miu Miu
In the first quarter of 2024, Prada Group’s revenues rose by 11 percent to €1,187 million, driven by the Miu Miu brand and beating market expectations by nearly €50 million. At constant exchange rates, the top line was up by 16 percent. Retail sales totaled €1,071 million, up by 12 ...
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ArticlePrimark’s sales, earnings rise
A strong rise in half-year profits at Primark helped Associated British Foods (ABF), the parent company of the fast-fashion retailer, lift its annual earnings guidance. Primark’s revenues rose by 7.5 percent to £4.5 billion (€5.23bn), while adjusted operating profit – the company’s preferred measure – was 46 percent higher at ...
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ArticleUS regulator moves to block Tapestry’s acquisition of Capri
On April 22, the US Federal Trade Commission (FTC) decided to sue to block Tapestry’s $8.5 billion acquisition of Capri Holdings. However, the companies plan to defend their case in court and to complete the transaction by the end of 2024. “If allowed, the deal would eliminate direct head-to-head competition ...
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ArticleGolden Goose’s revenues rise 11% in Q1
Golden Goose said that in the first quarter of 2024 revenues rose by 11 percent year-over-year on a reported basis and by 12 percent at constant exchange rates, while “maintaining strong margins.” Revenues of the direct-to-consumer channel grew by a reported 18 percent and 20 percent at constant exchange rates, ...
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ArticleJD Sports to buy Hibbett for about $1.1bn
JD Sports has entered into a binding agreement to acquire the Nasdaq-listed retailer Hibbett at $87.50 per share in cash. The bid implies an equity value of $1.083 billion (£878 million) and an enterprise value of $1.109 billion (£899 million). JD Sports expects to fund the transaction, and refinance Hibbett’s ...
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ArticleAustrian footwear retail under pressure but Deichmann enjoys steady growth
The Austrian footwear retail sector has undergone a dramatic transformation in recent years, encountering new challenges amid a profound shift in consumer behavior, a survey from the market research company RegioData showed. Since 2014, the number of stores in the country has dropped by a whopping 23 percent as ...
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ArticleThe Platform Group posts strong 2023 sales
German e-commerce company The Platform Group (TPG), the owner of online footwear retailer Schuhe24 and other fashion platforms, reported strong full-year results for 2023, with sales and profits on the rise. The company said in a statement that in the 2023 financial year, gross merchandise value (GMV) increased by 19 ...
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ArticleHow an iconic Italian footwear brand went from rags to riches
In just a few years, Valleverde’s turnover has increased more than twenty-fold, surging from €1.5 million in 2015 to €32 million in 2023. Last year, the top line was up by 28 percent compared with 2022. In 2015, Elvio Silvagni took one of the best-known Italian shoe brands out of ...
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ArticleAsos’ losses widen but excess stock cuts ahead of target
Asos’ half-year losses widened as the British online fast-fashion retailer continued to deal with competition from its Chinese rival Shein, but it was ahead of target on shifting the mountain of excess stock built up during the Covid-19 pandemic. The company reported an adjusted loss before tax of £120 million ...
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ArticleBlack Yak collaborates with SK, Dongsung for a sustainable trekking shoe
The South Korean companies SK chemicals, Dongsung Chemical and BYN Black Yak jointly announced that they have developed sustainable footwear materials using the naturally-derived material Ecotrion and applied it to Black Yak’s trekking shoes 343 MAX. The shoe was presented on April 18 after a year of collaboration. SK chemicals ...
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ArticleCirql launches a fully recyclable midsole made from 30% recycled TPU
The US-based insole specialist OrthoLite, the company behind Cirql, a provider of sustainable material solutions for the global footwear industry, has launched a new midsole foam called Cirql rTPU30. According to Cirql, the patented innovation consists of 30 percent recycled thermoplastic polyurethane (TPU) material and is manufactured through a chemical-free, ...
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ArticleCrocs names a new head for Heydude
Crocs has appointed Terence Reilly as the executive vice president and president for Heydude, as the brand expands its retail business and its European presence. Reilly will join the group’s executive leadership team on April 29 and will report directly to Andrew Rees, the chief executive officer of Crocs, Inc. ...
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ArticleDr. Martens shares get a kicking as CEO quits after fifth profits warning
Dr. Martens’ shares slumped by more than a third to record lows and trading in the stock was briefly suspended in London as the UK bootmaker said that its chief executive, Kenny Wilson, would step down after issuing a fifth profit warning in three years amid continuing woes in its ...
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ArticleFDRA calls on US president to remove duties on Chinese footwear imports
Matt Priest, the president and CEO of Footwear Distributors & Retailers of America (FDRA), is urging the US president, Joe Biden, to remove by executive order Section 301 import tariffs imposed on China. In an open letter to Biden, Priest wrote that “retail footwear prices have risen sharply since implementation ...
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ArticleFootwear stocks treaded water in a quarter marked by shareholder activism
The prices of stocks monitored by Shoe Intelligence grew by 1.3 percent on average in the first quarter of 2024, compared with the previous three months, in very volatile trade. The quarter was marked by shareholder activism. Tabor Asset Management, a US investment company that has a 1.1 percent stake ...
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ArticleH&M and Inditex accused of allegedly using unethical Brazilian cotton
The British non-governmental organization (NGO) Earthsight is accusing H&M and Inditex of allegedly using cotton “linked to land grabbing, illegal deforestation, violence, human rights violations and corruption in Brazil.” It is also calling on governments to regulate the fashion industry on the grounds that it has failed to ensure sustainability ...
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ArticleAllbirds urged to bolster its share price by Nasdaq
On April 2, Allbirds was notified by Nasdaq that its share price was no longer compliant with the rules of the New York-based stock exchange because the closing bid price of its Class A common stock has fallen below $1.00 per share for 30 consecutive days. Allbirds has 180 calendar ...
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ArticleNovoloop’s pilot plant for recycled plastic comes on stream in India
Novoloop, a US plastic circular economy technology company, announced the startup of its pilot plant in Surat, India. The plant was built in collaboration with Aether Industries, an Indian speciality chemical manufacturer. Groundbreak for the plant was announced in January 2024 and construction completed in March 2024. The pilot plant ...
