All Article articles – Page 128
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Détente on the international trade front
Three moves on the international trade front that have taken place in the last few days have given the shoe industry and the world economy positive signals in the direction of free trade.While the U.S. decided not to go ahead with a new set of punitive tariffs on imports from ...
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The EU reaches a trade pact with Mercosur
Twenty years after the start of negotiations, the European Union concluded on June 28 a trade agreement with Mercosur. While indicating that it may take two years for the deal to be formalized, the European Commission noted that the EU is the first major partner to strike a trade pact ...
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Sustainability is a growing marketing tool
The fashion industry is the largest employer in the world, an economic behemoth with about 40 million workers and annual revenues of $3 trillion. Yet most of the workers around the world enjoy little or no labor rights and operate in poor safety conditions. The industry is also the world's ...
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Office seeks refinancing
Truworths International of South Africa has started talks with lenders to restructure the debt of Office, the British footwear retail chain that it bought at the end of 2015 for £250 million (€278.7m-$310.3m). It has appointed Alvarez & Marsal Europe and Deloitte as advisors.Office is reported to have debts of ...
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Indian leather shoe exports up by nearly 1%
Exports of leather footwear rose by 0.95 percent to the equivalent of $1.8 billion in the ten months from April 2018 to January 2019, while overall exports of leather products dropped by 1.10 percent to $4.5 billion, according to the Indian Council for Leather Exports (CLE). Exports of leather shoes ...
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CCC acquires Gino Rossi
CCC Shoe & Bags, the fast-growing Polish retailing group, announced on May 24 the acquisition of a 90.02 stake in another Polish shoe company, Gino Rossi, through an equity increase worth 60.2 million zlotys (€14.1m-$16.0m). It had already made a strategic cooperation agreement with the company last September, allowing CCC ...
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Also a growing market for foreign brands
Among the U.S. brands, Crocs entered the Indian market in 2008 and is now sold in over 1,500 single-brand and multi-brand points of sale in 150 cities. The company has just appointed a new general manager for India, Sri Lanka and Nepal, Sumit Dhingra, who previously worked for Arvind Fashions. ...
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Weak exports from Bangladesh’s leather industry
Bangladesh's leather industry recorded an 8.7 percent decline in its export revenues to $837 million for the ten months ended on April 30. This was well short of the turnover needed to meet the government's target of $1.1 billion for the fiscal year ending July 31.According to the Bangladesh Tanners' ...
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Bata India, Relaxo, Liberty post strong results
Three big Indian shoe retailers – Bata India, Relaxo and Liberty Shoes in order of size – posted strong results in the full year ended on March 31 but registered a slowdown in the final quarter.India's largest footwear retailer, Bata India, reported a 7 percent increase in its sales to ...
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Brazilian footwear is benefiting from the trade war with China
Things seem to be looking up for Brazilian footwear. From January to April of this year, the industry exported 44.16 million pairs valued at $343.8 million, a 9.4 percent increase in pairs combined with a 0.1 percent decrease in dollars. The chief importer was the U.S., which has been purchasing ...
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Keen launches an ecological plastic boat tour
True to its motto “Better Takes Action,” Keen Footwear is launching a new, original broad-based environmental campaign in key European countries, heralding a new round of activities this year through a so-called “Better Takes Action Boat Tour.”An Amsterdam-based project partner of Keen, which goes by the name “Plastic Whale,” has ...
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Rocky Brands off to a good start
Thanks to the implementation of several measures to cut cost and boost growth - including the update of its manufacturing capabilities in 2017 - Rocky Brands' retail sales recorded double-digit growth during the first quarter of 2019, while the wholesale business posted a solid gain. The gross margin and profits ...
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Mixed start of the year for Designer Brands
The situation was not very different for Designer Brands, the American shoe retailing group previously called DSW, which reported a 28.4 percent increase in its net income to $31.2 million for the quarter ended on May 4. The company's operating margin (Ebit) declined by 0.4 percentage points to 5.0 percent, ...
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Ram launches domestic brands
Ram Fashion Exports, a large Indian shoe company that is manufacturing about 8,000 pairs a day, believes that domestic sales could represent half of its sales in about two to three years' time, compared with 15 percent currently.Ram has 30-40 foreign clients, largely in North America, Europe and Asia-Pacific, with ...
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Mixed quarter for Caleres
Caleres recorded a drop of 18.8 percent in adjusted net earnings to $15.0 million for the first quarter of 2019, ended on May 4. The adjusted Ebitda margin fell by 0.2 percentage points to 3.7 percent, due primarily to a number of headwinds including unseasonable weather conditions that forced its ...
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Calico turns to its domestic market
An Indian manufacturer of leather and shoes, Calico, exports 95 percent of its production, mainly to Europe. It started selling locally in September 2018 but currently only offers safety footwear for the Indian market under the Torp brand. Safety shoes represent 30 percent of the firm's total revenues, including leather.“There's ...
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Shoe Carnival looks for consumer insights
Shoe Carnival had a slow start to the first quarter of 2019, which it blamed on poor weather and delayed tax refunds. The American shoe retailer's revenues decreased by 1 percent from the year-ago quarter to $253.8 million, while comparable store sales declined by 0.2 percent.However, the management pointed out ...
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Genesco’s Schuh chain gets out of Germany
Schuh, the Scottish-based youth-oriented shoe retailer owned by Genesco, is closing all its three stores in Germany on June 22. Its German website www.schuh.eu/de will continue to operate, but the orders will be fulfilled by the chain's warehouses in the U.K. The company, which adopted the German word for “shoe” as its ...
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Jimmy Choo outperforms
Capri Holdings, the American group previously known as Michael Kors, reported a decline of 8.44 percent in its net income to $542 million for the financial year ended on March 31. The company's operating margin (Ebit) decreased by 1.9 percentage points to 14.0 percent, while revenues jumped by 11.0 percent ...
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India is promising for local and foreign shoe companies
As India is enjoying strong economic growth, its footwear market is becoming more and more attractive to local firms traditionally focused on exports as well as to foreign investors.According to the World Footwear Yearbook, India overtook the U.S. as the world's second largest consumer of shoes in terms of quantity ...
