All Corporate articles – Page 27
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Article
Rohde plans e-commerce platform this year
The German shoemaker Rohde intends to launch a business-to-business (B2B) online platform this summer, followed by a business-to-consumer (B2C) site.
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Article
Prada resumes production in Italy
Prada has launched a gradual reopening in Italy of its prototyping and sample-making departments, which are essential for developing its forthcoming footwear, leathergoods and apparel collections. It is also introducing serological testing of all employees.
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Article
Boohoo hikes cash pile while Farfetch continues to burn cash
boohoo is building up its cash pile thanks to its highly cash-generative business model and is ready to go on an acquisition campaign. Meanwhile, Farfetch continues to burn cash.
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News briefs
Prada scraps dividend payment
Like many other companies, Prada has decided to drop its full-year dividend to retain financial resources in the light of the crisis caused by the Covid-19 pandemic. It said that the decision will give it access to ”further resources to rapidly go back to its previous activity levels in the ...
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Article
Caleres, Shoe Carnival boost credit lines
Caleres and Shoe Carnival expanded existing credit lines to ensure liquidity while stores remain closed during the Covid-19 pandemic.Shoe Carnival also eased the covenant on its credit agreement.
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News briefs
Wolverine changes its brand structure
By May 30 at the latest, Todd Spaletto will be stepping down as president of Wolverine Worldwide’s Michigan Brands group, which consists of the Merrell, Chaco, CAT Footwear, Hush Puppies and Sebago brands. Rather than replace him in the post, Wolverine is promoting three executives and dividing responsibility for its ...
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Article
Spain, Portugal to benefit from accelerated reshoring
The novel coronavirus Covid-19 pandemic could lead to an acceleration in the reshoring of manufacturing to Europe. Alicia Garcia-Herrera, senior fellow at the European think tank Bruegel, said in an interview with Exame magazine that the shift could be significant for countries such as Spain and Portugal. The move out ...
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News briefs
Debenhams files for administration
On April 6, Debenhams filed a notice of intent to appoint an administrator. The British retailer’s move would provide protection from any legal action that could push the business into liquidation, especially while the nationwide lockdown over the Covid-19 pandemic keeps its 142 department stores shuttered. Debenhams is preparing to ...
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News briefs
Peta invests in luxury brands
The American animal-rights group People for the Ethical Treatment of Animals (Peta) has taken advantage of the stock market’s decline caused by the Covid-19 pandemic to purchase stakes of undisclosed sizes in approximately 20 companies in the luxury industry, among them Kering, Burberry, Ralph Lauren and Guess. The purpose is ...
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News briefs
Neiman Marcus debt ‘unsustainable’
The credit rating of the iconic American department store was downgraded by S&P as the U.S. retailing industry suffers the impact of the novel coronavirus Covid-19 pandemic. Meanwhile, Moody’s cut its rating for J.C. Penney.
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News briefs
Foschini to forgo rent payments during South African lockdown
The South African retailer Foschini has said that it will not pay rent on its stores during the nationwide Covid-19 lockdown that began on March 27. “Once the situation normalizes we will then be able to assess the full financial impact on the business and will engage with you further,” ...
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News briefs
Aeffe’s share buyback
While many companies have dropped or suspended share buybacks to withhold cash because of the uncertain impact of the Covid-19 pandemic, Aeffe, the owner of Pollini and various fashion brands, has being purchasing its own shares in the latter part of March and early April. The last batch of shares ...
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Article
André hit by coronavirus
The once flourishing André chain of urban shoe shops, which has been struggling for several years, has been placed in insolvency proceedings, protecting it from its creditors. The lockdown of its 120 stores on March 16 because of the coronavirus outbreak was the final straw, as it lost nearly €4 ...
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News briefs
Carlos Wizard Martins acquires Alpargatas Argentina
The Brazilian businessman Carlos Wizard Martins has acquired the entirety of Alpargatas S.A.I.C. of Argentina, and with it the worldwide rights to the Topper brand of athletic footwear. The similarly named Alpargatas S.A. will remain a separate operation in Brazil. In September 2018 Wizard Martins paid $24 million for a ...
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News briefs
Birkenstock introduces collection
Birkenstock unveiled its latest collection at Sole DXB, Dubai’s biggest street festival, on Dec. 5-7. The annual Sole DXB festival serves as a regional platform for footwear, fashion and arts. The launch, within the framework of Birkenstock’s international expansion strategy, took place shortly ahead of the brand’s entrance into the ...
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News briefs
Insolvent, Fritzi aus Preußen presents new investor
After the opening of insolvency proceedings on Dec. 30, Fritzi aus Preußen, the German-based manufacturer of shoes and bags, presented a new investor. EinsPlusVier from Hannover will take over all contracts that are relevant to them with immediate effect. The local court of Hannover opened insolvency proceedings under self-administration. After ...
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News briefs
Report issued on bankruptcy of SLEM
The final report on the bankruptcy of SLEM, the Shoe Leather Education Museum in Waalwijk, Netherlands, has been issued, over two years after it took place. In July 2017, the curtain fell on the SLEM foundation as its ambitions proved too expensive. The municipality decided to distance itself from the ...
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News briefs
Comyp files for debt refinancing
On Jan. 10, an Italian shoe manufacturer, Comyp, filed for a debt refinancing arrangement with a Padua-based court. The court granted the company 120 days to present a debt refinancing proposal, according to the site ilnordestquotidiano.it. The company was created in the 90s and has produced shoes under the brand ...
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News briefs
Genesco to move its headquarters
In about a year, Genesco will be moving its headquarters within the city of Nashville from Murfreesboro Road, where they have been since 1965, to Marriott Drive. There the footwear retailer and wholesaler will occupy about two-thirds of a 310,000-square-foot building. The company estimates that the move will create jobs ...
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News briefs
La Halle plans to restructure
La Halle, part of the Vivarte group, is planning a new restructuring plan that would cut 101 jobs at its logistics department and headquarters. The plan will affect 63 jobs out of 467 at the Parisian headquarters and 38 jobs out of 300 at the logistical center in Issoudun, in ...
