Retail & Distribution
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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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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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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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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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ArticleRussia claims to have virtually eradicated illegal footwear sales
Since 2020, the mandatory labelling of fashion goods has secured additional income of 84.6 billion rubles (€848 million) on aggregate for the Russian federal budget, estimated the Russian Center for Prospective Technologies (CPT), a government agency authorized to supervise the labelling reform. Footwear labelling on its own provided additional income ...
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ArticleC-Suite interview: Palmroth plans to double its sales in three years
Palmroth is a family-owned footwear company based in Tampere, Finland, whose history dates back to 1928. Largely centered on winter shoes, the brand aims to double its sales volumes within the next three years. Run by Mikko Palmroth, who represents the third generation at the helm, the company sells annually ...
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ArticleTamaris plans to expand its Russian store network
By the end of 2024, Wortmann plans to add 15 doors to its existing network of 60 Tamaris stores in Russia and take several other steps to gain a better foothold in the country. Friedrich Naumann, CEO of Wortmann Vostok, said that the brand intends to open new stores ...
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ArticleVF expands its partnership with GMG
VF Corp. is expanding its partnership with the retail conglomerate GMG in order to grow in the Middle East and North Africa (MENA) and South East Asia (SEA) regions. The US group, whose portfolio includes the brands Vans, The North Face and Timberland, has been collaborating with the Dubai-based retail ...
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ArticleManolo Blahnik opens a store in Hong Kong
Manolo Blahnik has opened a store in Hong Kong thanks to a joint venture with Bluebell Group. The two companies have been working together since 2016 and collaborate in various Asian markets. The partners already have stores operating under the banner of the London-based luxury footwear brand in Japan, Malaysia, ...
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ArticleShoe Carnival sees growth resuming this year
Shoe Carnival expects its top line to grow by 4.0 percent to 6.0 percent in fiscal year 2024 after falling by 6.8 percent to $1,176 million the year earlier, as the recent acquisition of Rogan’s Shoes, continued strength at the Shoe Station banner, e-commerce growth and improving trends at its ...
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ArticleTempe to build a new distribution center in Valencia region
Tempe, the footwear unit of Inditex, will build a new 141,000 square-meter distribution center in the Valencia region. The announcement was made by Inditex which plans to invest €900 million a year in 2024 and 2025 to increase its logistics capacity. The other projects include a new 286,000 square-meter distribution ...
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ArticleNext maintains its guidance despite expectations of lower full-price sales
Next maintained its guidance for the year ending in January 2025 despite warning that growth in full-price sales could slow down. The British fashion company said it is still expecting pre-tax earnings of £960 million (€1.12bn) based on a 2.5 percent increase in full-price sales, with a 5 percent rise ...
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ArticleDesigner Brands hit by a weaker footwear market
Designer Brands reported a decline in fourth-quarter sales due to a deterioration of the footwear market in North America. When announcing the results for the quarter ending on Feb. 3, the CEO, Doug Howe, said that the footwear company enjoyed a rebound in the latter part of the period but ...
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ArticleSpartoo posts a positive free cash flow
Spartoo booked a positive free cash flow of €0.7 million in 2023, compared with a negative €23.6 million in 2022, due to a reduction in working capital, thanks to a decrease in inventories, as well as a drop in investments to €1.3 million from €2.9 million. The group’s inventory fell ...
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ArticleDeichmann continues to grow in 2023
Deichmann continued to grow in 2023 despite difficult business conditions, especially in its home market. The German footwear retailer, which is present in 34 countries, generated gross revenues of €8.7 billion, or a net €7.4 billion, in 2023, up by just over 7 percent on a currency-adjusted basis. Like-for-like sales, ...
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ArticleRussian footwear brands adapt their product range to better suit online marketplaces
As e-commerce consolidates its dominance in the Russian footwear market, brands are looking into opportunities to improve their positioning in this segment. In 2023, one of the key trends on the Russian market of fashion goods was that brands were designing new collections specially for online marketplaces, according to a ...
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ArticleStyle Capital snaps up Autry, launches retail expansion plan
The Italian private equity group Style Capital has acquired a 50.2 percent stake in Autry International, the owner of the Italian sneakers brand Autry, and announced a retail expansion plan that will see the opening of more than 20 Autry brand stores in luxury shopping destinations in Italy and abroad. ...
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ArticleFormer Görtz CEO Frank Revermann takes over Onygo
Görtz’s former CEO Frank Revermann took over Deichmann’s sneaker and streetwear subsidiary Onygo, said the former parent company confirming media reports. At the beginning of October, Deichmann announced that Onygo would cease operations by August 2024 at the latest, citing major structural changes in the fashion retail sector, exacerbated ...
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ArticleFootwear sales rose by 4% in 2023 in Germany while 15% of stores closed
Footwear retail sales in Germany increased in 2023 by approximately 4 percent, or €480 million, to €11.6 billion (including VAT), despite a few spectacular bankruptcies, estimates from the country’s textile, shoes and leather goods trade association, BTE, showed. The figure includes brick-and-mortar shoe stores (€6.8 billion), online sales (€2.7 ...
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ArticleAldo to produce bags under the Hunter brand
Aldo Group has entered into another licensing agreement with Authentic Brands Broup (ABG). Under the deal, the Canadian footwear company will take on the design, production and distribution of bags and small leather goods for men and women in the US and Canada. Hunter’s bag collection will launch for the ...
