All Article articles – Page 93
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ArticleRizzo Group to undergo another restructuring
Rizzo Group, formerly known as Venue Retail Group, has applied for a new corporate reorganization with a Stockholm-based court. The decision follows a “sharp drop in sales” due to harsher restriction measures following a second wave of the Covid-19 pandemic from October 2020. The request comes six months after the ...
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ArticleCole Haan to expand in Northern, Eastern Europe with Norgroup Retail
After testing the German market through partnerships with local dealers and marketplaces, including Zalando, the American brand Cole Haan has decided to join forces with the distributor Norgroup Retail. Thanks to the partnership, Norgroup Retail, which is based in Copenhagen, will represent Cole Haan in 15 European countries: Germany, Austria, ...
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ArticleOpinion: How to understand and reduce logistic disruption costs
by Luigi Grosso, Euro Brand Management Many factors have contributed significant increases in transportation costs over the last year, reaching highs far in excess of long-term sustainable levels. The shipping industry is experiencing tight capacities, leading to a shortage of containers because of the strong demand, especially in areas related ...
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ArticleEurope’s patchwork of Covid-19 regulations for retailers
Ongoing changes to local Covid-19 safety regulations for retail stores make it difficult to stay on top of things as the pandemic situation heats up again in most European countries. Here is an overview (as of March 25, subject to change and with regional variations) of the status of so-called ...
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ArticleBoohoo drastically reduces U.K. suppliers
The British online fast fashion retailer Boohoo has slashed its domestic supplier network to 78 firms from around 500 as it tries to rebuild its reputation after allegations of poor conditions for workers. The firm acted after an independent review found “endemic” failings at factories making its products in Leicester, ...
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ArticlePittards posts operating profit in H2
Pittards, the British leather and leathergoods manufacturer, which owns the brand Daines & Hathaway, posted a positive Ebitda of £0.3 million (€0.35m-$0.41m) in the second half of 2020, albeit down from £0.9 million (€1.0m-$1.2m) a year earlier. For the whole of 2020, the company posted a negative Ebitda of £1.1 ...
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ArticleYue Yuen posts losses despite retail rebound
Although China is resisting the pandemic much better than other markets, Yue Yen Industrial Holdings ended 2020 in the red, hampered by the global decline in the demand for shoes, especially in the casual segment. The company was strongly impacted by government measures to contain the spread of the disease ...
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ArticleGeox reaches a deal to reorganize its Canadian business
Geox has reached an agreement with creditors to restructure its Canadian business. The company had previously announced plans to streamline its activities in certain countries if it could not align rent costs with market conditions. The other countries under review are the U.S., Japan, the U.K. and Germany. According to ...
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ArticleShoe Carnival names a new CEO
Shoe Carnival’s board has unanimously elected Mark Worden as the next CEO, effective Sept. 30. Worden is the chief customer officer of the American footwear retailer and will succeed Cliff Sifford, who will step down as CEO but will continue as vice chairman of the board. Sifford joined the company ...
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ArticleStella cautiously optimistic about first half of 2021
Stella International is “cautiously optimistic” about order levels for the upcoming spring and summer 2021 season, although it still has low visibility for the second half of the year due to the recent new Covid-driven lockdowns in many countries around the world. Steady volume growth and margin improvement will be ...
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ArticleEcco had a challenging 2020 but made record investments
Danish footwear brand Ecco said it has remained financially strong despite the challenges of the year 2020. The company reported sales of €1.09 billion in 2020, down 19.7 percent from €1.36 billion a year ago, and the operating margin narrowed to 4.6 percent from 14.8 percent. Profit before taxes reached ...
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ArticleDigitalization fast-tracks transformation of B2C relationships
The Covid-19 pandemic and the resulting lockdowns have led fashion companies to accelerate on digitalization, leading to profound long-term changes both in digital and in brick-and-mortar retail in a rapidly changing environment. Such acceleration in the digital shift deeply impacted not only B2B relations, but also the B2C world, fast-tracking ...
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ArticleCaleres cuts debt to below pre-Covid levels
Caleres posted lower sales and a net loss in the fourth quarter, but thanks to strong cash generation it continued to significantly deleverage its balance sheet, pushing debt below pre-pandemic levels. In the fourth quarter alone, it reduced credit facility borrowings by $50 million to $250 million, or $25 million ...
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ArticleMyanmar violence raises sourcing concerns
Many sports and fashion brands that have shifted part of their sourcing for apparel and footwear to Myanmar because of its lower labor costs are watching with awe the consequences of the recent military coup in the country. According to observers, it may be difficult for some of them to ...
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ArticleZalando lifts sales forecasts, aims for 10% of Europe’s fashion market
Zalando has lifted its sales and profit forecasts for 2021 after reporting a 23.1 percent rise in revenues to about €7,982 million for the 12 months to Dec. 31, 2020, with increases of 17.2 percent in the German-speaking countries and 28.4 percent in the rest of Europe, where they reached ...
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Li Ning’s SPAC files for a $250 million IPO
Trinity Acquisition has filed with the U.S. Securities and Exchange Commission (SEC) to raise up to $250 million in an initial public offering (IPO) of 25 million units at $10. The special purpose acquisition company (SPAC), based in Hong Kong, is led by Li Ning, the former Olympic champion turned ...
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ArticleDesigner Brands’ sales of athletic shoes rose sharply in Q4
Designer Brands improved its fourth-quarter sales from the previous three months as it continues to increase its exposure to athleisure and children’s footwear and develop its digital capabilities. The company has streamlined its offer to focus on the top 50 brands in the U.S. and top 30 in Canada. In ...
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ArticleFootwear companies take sustainability in their stride
Hardly a day goes by without a footwear company or a component supplier announcing a more sustainable product, a recycling program or an environmentally-friendly scheme. Such a flurry of initiatives is motivated by growing consumer and regulatory pressure as well as greater corporate consciousness. Nevertheless, the shift to more sustainable ...
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ArticleVictor Herrero confirmed as Clarks CEO after LionRock completes deal
LionRock Capital has completed its deal to take a majority stake in the struggling British shoe maker Clarks and confirmed senior management changes, with Victor Herrero replacing Giorgio Presca as CEO after weeks of speculation. The departures of the chief commercial officer, Massimo Barzaghi, and of the head of human ...
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ArticleItalian footwear production down by a quarter in 2020
Footwear production in Italy fell by 24.6 percent in value to €6,023 million in 2020 and by 27.1 percent in volume to 130.5 million pairs due to the impact of the Covid-19 pandemic, according to preliminary data released by the Italian footwear association Assocalzaturifici. Overall revenues for the Italian footwear ...
