All Article articles – Page 148
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Top luxury goods brands are hot
Like the two big German athletic footwear companies, Adidas and Puma, which we report about regularly in Sporting Goods Intelligence Europe, two of the three major French luxury goods groups surprised financial analysts with the strength of their results for the first quarter of this year.Maintaining the strong sales momentum ...
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A tough year for brick-and-mortar shops in the U.K.
With 5,855 store closures in 2017, the U.K.'s main shopping streets experienced the worst year in this respect since 2010. Shoe retailers and fashion shops were among the segments that suffered the most from the rise of internet shopping, together with travel agencies, banks and real estate agents. Similar developments ...
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Shoe Carnival posts weak sales
The share price of Shoe Carnival dipped by 5.5 percent after the American shoe retail chain posted sales for the fourth quarter that missed Wall Street expectations and issued a weak outlook for the year ahead. The management cited lower promotions as well as challenges from last year's hurricanes.Sales for ...
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Otto Group stops selling shoes and clothes online in Russia
The German-based Otto Group is about to close two online stores, Quelle.ru and Otto.ru, which sell shoes and clothing in Russia, among other products. Company officials said that Otto is also closing marketplaces operating outside the German-speaking countries, where the group wants to focus in the future.A Russian consulting agency, ...
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The Eurasia Union limits duty-free e-commerce
The Eurasian Economic Union is introducing new limits on duty-free purchases from the foreign online retailers. The current limit of €1,000 on the combined value of monthly orders by citizens in the economic area is set to be lowered to €500 from Jan. 1, 2019 and to €200 from Jan. 1, 2020. ...
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Zara starts exporting shoes from Russia to the EU
Inditex, the big parent company of Zara and other retail chains, has signed the first contracts to export shoes and clothes manufactured in Russia to Spain, said Viktor Evtukhov, Deputy Russian Industry and Trade Minister, during a press-conference in late March. Inditex signed contracts last year with 11 Russian factories. ...
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Stella is expanding in Europe
Stella International managed to grow its revenues in 2017 thanks to the strength of its athleisure range. While fashion footwear remained the biggest contributor to the Chinese shoe manufacturer's overall revenues - accounting for 38.6 percent of the total turnover - the contributions from casual footwear and fashion athletics were ...
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Ferragamo recruits a former Gucci executive
Salvatore Ferragamo has appointed Micaela Le Divelec, a former Gucci executive, as managing director and chief corporate officer. She will join Giacomo (James) Ferragamo, who has been appointed vice chairman, and the chief financial officer, Ugo Giorcelli, to form a trio of “strategic managers.” The company's annual shareholders' meeting confirmed ...
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International helps Steve Madden to top expectations
Steve Madden continues to perform well, posting another strong quarter that surpassed Wall Street expectations thanks to steady growth at its flagship label and rising demand from outside the U.S. The management said it was particularly pleased with the strong growth recorded abroad in the quarter, which it attributed to ...
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Strong exports from France
Demand for French leather products is increasing after the sector reported a strong 7 percent export growth in 2017 to pass the €10 billion mark, according to figures published by industry's umbrella organization, the Conseil National du Cuir. This includes shipments of raw hides and skins, finished leather, shoes, leathergoods, ...
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LVMH is going for sneakers
The world's largest luxury goods company is reportedly eyeing a possible investment in Stadium Goods, an exclusive American online retailer for “authenticated” sneakers that has been collaborating with the likes of Supreme and Off-White, the company founded in 2013 by Virgil Abloh, the 37-year-old designer who has just been appointed ...
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Good online sales for Obuv Rossii
Obuv Rossii, the first Russian footwear retailer to have been listed on the stock exchange, generated net revenues of 2.26 billion rubles (€30m-$37m) in the first quarter 2018, up by 6.1 percent as compared to the same period in the previous year.The growth has been driven by the opening of ...
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Pittards improves sales and profits
Pittards, a major supplier of leather to the sporting goods industry based in the U.K, made a pre-tax profit of £400,000 (€458,000-$562,572) in 2017, down from a loss before taxation of £4.1 million in 2016, when it faced a major inventory writedown of £4.3 million (€4.9m-$6.0m).Revenues jumped by 12 percent ...
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Yue Yuen posts strong sales, keeps Pou Sheng
An increase in the manufacture of athletic shoes and strong growth in the group's retail business boosted Yue Yuen Industrial's revenues for 2017. They rose by 7.6 percent from the previous year to $9,120 million.The momentum continued in the first quarter of this year for the world's largest shoe manufacturer, ...
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Russia starts offering VAT refunds
As from Jan. 1, 2018, foreign citizens can get taxes back for the purchases they make in Russia, following the introduction of a new law on the value-added tax. The new legislation allows shoppers from outside the Eurasian Economic Union (EEU) to save up to 18 percent when they spend ...
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Poletto will run Weitzman
Eraldo Poletto, the experienced Italian executive who left as chief executive of Salvatore Ferragamo last month, has been appointed as the new CEO and brand president of Stuart Weitzman, effective from April 30. He will directly report to Victor Luis, the CEO of Weitzman's holding company, formerly called Coach and ...
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Online retailing makes up 20% of the German shoe market
The management of the German shoe retailers' federation, BDSE, reported an increase of 1.5 percent for the German shoe retail trade, but estimated that sales of footwear over the internet grew at a stronger rate of 7 percent, down from their previous double-digit increases. Across all sales channels, including the ...
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Geox’ 2017 net profit surges after restructuring
Geox finished 2017 with a net profit of €15.4 million, up sharply from €2.0 million in the previous year as it benefited from the fruits of a major reorganization process. The board decided to increase the annual dividend to €0.06 per share, representing a total outlay of €15.6 million, up ...
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Prada pledges return to growth in 2018
The Prada Group expressed confidence that it is writing a “new chapter” in its history and that it is reasonable to expect organic revenues to grow by a “mid to high single-digit” rate this year, putting an end to a steady stream of declines since 2014. Such growth would translate ...
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The German shoe industry’s sales grow by 5.9%
The “sneaker hype” again helped boost shoe exports from Germany in 2017. According to federal statistics, exports of sports shoes with textile and leather uppers rose last year by 22.2 percent to 41 million pairs. Overall sales abroad of shoes with textile uppers went up by 17.9 percent and those ...
