All Article articles – Page 130
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Farfetch continues to bleed red ink
It will certainly take more time for Farfetch to make a profit, as it has been the case for older e-tailers like Amazon and Zalando. While the online luxury marketplace grew more strongly than expected in the first quarter ended on March 31, with its revenues rising by 38.6 percent ...
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Prada will further downsize its wholesale business
Prada has decided to further reduce its wholesale business to control its pricing policy better as it seeks to erase markdowns in its directly operated stores. The group said that the move is “essential to ensure greater consistency in pricing policies” in physical stores and online. This will enable it ...
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Xtep will buy the parent of K-Swiss and Palladium
Xtep International Holdings, the Chinese sportswear group that announced in March a joint venture with Wolverine Worldwide for the sale of Merrell hiking gear and Saucony running shoes in mainland China, has agreed to buy a 100 percent stake in E-Land Footwear USA, the owner of K-Swiss, Palladium, Supra, PLDM ...
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The Flexx buys Rapisardi
The Flexx, which has made a name for itself as a producer of comfortable and fashionable shoes that use the stitch-and-turn process, has made two important investments. It has taken over 90 percent of the shares in NR Rapisardi, a small supplier of women's shoes in Florence. Also it has ...
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Global luxury market to be driven by millennials and the Chinese
The global luxury market was worth €920 billion in 2018, and is expected to grow at an average annual rate of 4.6 percent until 2025. Millennials are expected to bring 130 percent of 2018-25 market growth, growing from 32 percent to 50 percent of the personal luxury market in that ...
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A new generation of Chinese luxury consumers
The global luxury market will be massively impacted by a new generation of Chinese consumers in the coming years. According to McKinsey's “China Luxury Report 2019,” based on UnionPay transaction data, the Asian country will have generated 65 percent of the world market's growth from 2018 to 2025, and will ...
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Cinven is reportedly in informal talks to sell Kurt Geiger
Cinven, the British private equity investment company that bought Kurt Geiger in 2015 for £245 million (€278.7m-$311.3m), has held informal talks with new investors based in the U.S. to sell the British shoe retail chain, according to The Telegraph. The British daily newspaper named potential buyers like Steve Madden, Capri ...
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Deichmann closes its Roland stores
Deichmann has decided to stop trading under the Roland banner, closing its 45 stores in Germany by the end of 2020, after major investments in the format, to focus on MyShoes. The big shoe retailing group said it took the decision due to structural changes in the shoe retail market, ...
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Tod’s continues to post disappointing sales
Tod's disappointed investors again, with its first-quarter top line missing market expectations by about €3 million, and the group failing to fulfill its pledge of relaunching sales, a task that was due to be achieved in the second half of 2018.In the first quarter, group sales dropped by 4.3 percent ...
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Crocs’ first-quarter revenues exceed expectations
Crocs' revenues reached $295.9 million in the first quarter ended on March 31, growing by 4.5 percent from the first quarter of 2018, or by 9 percent on a constant-currency basis, despite the negative impact of store closures and changes in the business model, which reduced revenues by around $6 ...
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Zalando expands its customer reach
Zalando reported that the number of active customers increased by 14.1 percent year-on-year during the first quarter of 2019 to 27.2 million, with site visits rising by 29.5 percent to 924 million. The larger customer base placed more frequent orders than before. The number of orders per active customer grew ...
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Van Dal takes over Padders
The Florida Group, owner of the Van Dal brand of shoes, has completed the acquisition of T. Groocock & Co., owner of Padders. The terms of the contract were not disclosed. T. Groocock, which takes its name from the man who founded the company in 1914, will be renamed Padders ...
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Sioux’ Portuguese plant shuts down
The Portuguese factory of Sioux, the German group best known for its comfortable moccasins, closed its doors a few weeks ago, filing for insolvency at the beginning of May. About 150 people at the factory, located in the area of Lousada, are affected by the decision, and some of them ...
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Duuo goes vegan
Placing its bet on sustainable fashion and the circular economy, the shoe brand Duuo – based like Munich in Barcelona – has released Fenix, a model that is entirely free of leather. In fact, according to the company, it is free of animal products altogether and is produced in factories ...
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Kienast emerges as strategic investor for Schuhpark Fascies
The family-owned Kienast Group has won a bidding race for a strategic investment in the insolvent Schuhpark Fascies chain of shoe shops in Germany. The creditors of Schuhpark Fascies have already approved the investment from Kienast and the broader insolvency plan. Both firms expect that the district court of Münster ...
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Italy’s shoe exports rise only in value
The average price of Italian shoes continued to increase in 2018 by around 8 percent, and this allowed the Italian industry to record a 3.6 percent increase in its exports of shoes and components to €9.85 billion, despite a drop of 3.5 percent in volume, based on regional statistics compiled ...
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Geox’ overall sales slip, and may remain weak at wholesale
Geox posted first-quarter sales of €260.9 million, down by a reported 1.3 percent and by 1.6 percent at constant exchange rates, but they beat market expectations by over €2 million. It described the quarterly results as “good” but warned that reaching analysts' forecasts of Ebitda of €54 million on annual ...
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Spain’s Munich grows strongly
Munich, the Spanish brand of athletic and sports lifestyle shoes – now in its 80th year – closed out 2018 with revenues of €40.5 million, up by 16 percent from the previous year. Revenues were particularly strong in the second half of the year. In addition, a 23 percent increase ...
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New sanctions on Ukraine will not impact Russian shoe imports
The Russian government has introduced a set of new economic sanctions against Ukraine, one of which bans all shoe imports from the country. Speaking about the new trade restrictions, the Russian Economy Development Minister, Maxim Oreshkin, said that the government picked goods for which import replacement seemed to be possible.In ...
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New strategic investor for Netshoes
The big Brazilian e-tailer specializing in sports shoes and apparel has been losing money since it went public on the New York Stock Exchange two years ago at a price of $18 per share, consistently failing to meet its guidance. Netshoes' founder and chief executive, Marco Kumruian, and other major ...
