Coronavirus Ticker

  • News briefs

    ILM canceled due to Covid-19 situation in Offenbach

    2020-09-07T06:34:00Z

    ILM , the German international leather goods fair, was canceled in Offenbach, where the event was to be held from Sept. 5 to 7. The city of Offenbach withdrew the authorization to hold the show and the evolution of the Covid-19 pandemic in the town “was decisive” in ...

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    ​Alibaba’s core domestic business returns to pre-Covid levels

    2020-08-21T13:38:00Z

    The giant Chinese e-commerce company Alibaba said that its domestic core commerce business has ”fully recovered” to pre-Covid-19 levels during the first quarter ended on June 30. Revenues rose by 34 percent year-over-year to 153.8 billion yuan renmimbi (€18.8bn-$22.2bn) during the quarter, beating market expectations of RMB 148 ...

  • News briefs

    Global bankruptcies may rise by 35% over 2 yrs

    2020-07-21T09:03:00Z

    Global corporate bankruptcies are expected to rise by 35 percent in 2021 compared with 2019 because of the Covid-19 pandemic, representing an average annual compound growth of 16 percent in 2020 and 2021, an annual average similar to the one seen during the 2007-2009 crisis, according to a study from ...

  • Article

    Hotter Shoes submits debt restructuring plan to creditors

    2020-07-15T17:47:00Z

    UK footwear chain Hotter Shoes has reportedly gone ahead with plans to file a company voluntary arrangement (CVA) proposal to creditors and shareholders seeking approval to close 46 stores as it deals with the impact of the coronavirus pandemic. The plan would leave the company, owned by Electra Private ...

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    Article

    Micam Americas September edition cancelled

    2020-07-12T16:26:00Z

    The British trade fair organizer Informa Markets has cancelled the fashion trade show Magic , which includes the footwear show Micam Americas , scheduled to run from Sept. 30 to Oct. 2 at the Las Vegas Convention Center due to health, safety and travel concerns related to the Covid-19 pandemic. ...

  • Inventory
    Article

    ​How are retailers managing excess stock in Covid-19 times?

    2020-07-07T06:12:00Z

    Managing stock has always been a tricky part of any business. But it becomes even more so when demand evaporates overnight as occurred with the outbreak of the Covid-19 pandemic and the subsequent lockdowns worldwide, prompting manufacturers and retailers to be nimble and explore various different solutions.

  • Crocs new headquarters inside
    News briefs

    Crocs opens new headquarters in Colorado

    2020-07-05T09:21:00Z

    On June 24, Crocs , opened its new corporate headquarters in Broomfield, Colorado, less than 20 miles from downtown Denver. In addition to the nearly 375 current positions, the some 90,000 square foot facility located in the Atria campus will allow the company to “significantly” expand to hire more full-time ...

  • News briefs

    Marypaz to lay off staff, close stores in Spain

    2020-07-01T06:49:00Z

    Marypaz , the Spanish maker and retailer of women’s shoes and accessories, is planning to lay off 170 employees, out of a total workforce of 600 as of Dec. 31, 2019, in an effort to limit the damages of the coronavirus crisis. According to reports in modaes.es , the company ...

  • News briefs

    LVMH saw ‘rather vigorous’ signs of recovery in June

    2020-06-30T18:42:00Z

    The French luxury goods group LVMH says that it does not have a timeframe for when its business will return to normal but it noted “rather vigorous” signs of recovery in June. Speaking at the group’s annual general meeting, its chairman and chief executive Bernard Arnault warns ...

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    Obuv Rossii starts selling bicycles

    2020-06-23T09:28:00Z

    As in many other countries, bicycles have become a hot commodity in Russia as an ecological alternative to public transport, in order to avoid contamination from the novel coronavirus, while keeping fit. Even a leading Russian footwear retailer, Obuv Rossii , has begun selling bicycles, handling after-sale servicing in its ...

  • Article

    Hotter plans to downsize with creditors’ support

    2020-06-22T05:52:00Z

    Electra Private Equity , which owns the British footwear manufacturer and retailer Hotter Shoes , plans to downsize the company through a company voluntary arrangement (CVA) process. A CVA enables an insolvent company to seek an agreement with its creditors. But, the arrangement has to be approved by ...

  • News briefs

    Kari inks partnership with AliExpress

    2020-06-19T07:37:00Z

    Russia’s biggest footwear retailer, Kari , has begun selling shoes and accessories through AliExpress . Kari placed nearly 1,000 different items on the AliExpress website – nearly half of its product range - offering a 40 percent discount on everything. Kari decided to conclude the agreement with AliExpress when it ...

  • Article

    Boohoo buys two brands, Oasis and Warehouse

    2020-06-18T07:00:00Z

    In the wake of its capital increase, that raised £197.7 million (€220.8m-$248.0m) in gross proceeds on May 15, the U.K. online fashion retailer Boohoo has bought two brands, Oasis and Warehouse , for £5.25 million (€5.9m-$6.6m) from Hilco Capital . The two brands will be integrated onto Boohoo’s platform, ...

  • News briefs

    Grendene suspends production in Sobral again due to Covid-19 lockdown

    2020-06-17T10:57:00Z

    The Brazilian footwear manufacturer Grendene has suspend production in Sobral, where it has its largest manufacturing base, following a municipal decree. The company already had to close its sites in the town and other parts of the country due to restriction orders to combat the propagation of the Covid-19 ...

  • News briefs

    Phillip Lim partners with The RealReal to sell unsold stock

    2020-06-07T15:48:00Z

    The American fashion brand designer Phillip Lim has struck an agreement with the online luxury consignment marketplace The RealReal to sell unsold items from previous collections of the 3.1 Phillip Lim brand at discounted prices, reported WWD . Brand products are placed in a dedicated online shop ...

  • News briefs

    GMS offers to renegotiate rents for its members

    2020-06-05T09:37:00Z

    Introducing a new service, GMS , the German voluntary group of shoe retailers, is offering to renegotiate rents with landlords on its members’ behalf. GMS would coordinate each single procedure beforehand with its members and would then take over the negotiations, if so desired. Many independent retailers have managed ...

  • News briefs

    Indonesia footwear industry loses 400,000 jobs due to Covid-19

    2020-06-04T08:56:00Z

    Nearly 400,000 workers in Indonesia’s footwear and leather industry have been forced to stop working so far due to the Covid-19 pandemic, according to preliminary data from Indonesia footwear producers’ association, Aprisindo . Many factories have temporarily closed, while capacity at others has been reduced to about 40 percent to ...

  • News briefs

    German retailers ask for help after a drop of 71% in April

    2020-06-03T15:55:00Z

    The Federal Statistics Office of Germany has reported a year-on-year decline of 70.7 percent for April in total sales of apparel, shoes and leathergoods, due to the retail lockdowns demanded by the government help stem the Covid-19 pandemic. Overall retail sales in Germany declined by 6.5 percent for the ...

  • News briefs

    Deichmann to support families in India during the current crisis

    2020-06-01T15:48:00Z

    Deichmann , Europe’s largest shoe retailer, will support about 15,000 families in India who are affected by the lockdown of schools due to the current coronavirus epidemic. The Deichmann Foundation and a local partner, AMG , will donate rice, vegetables, sugar, salt, tea, detergent and soap to supplement the ...