All Corporate articles – Page 4
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Wortmann invests €20m in an automated warehouse
The German footwear manufacturer and distributor Wortmann Group is expanding its logistics hub in Detmold with a fully automated warehouse with a shuttle system. With an investment of around €20 million, Wortmann aims to boost delivery efficiency and expand its capacity in the European market, allowing it to handle ...
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ArticleGörtz announces layoffs as its insolvency crisis deepens
The German shoe retailer Görtz continues to navigate dire straits as it grapples with insolvency issues across multiple fronts. Görtz Retail GmbH announced the layoff of 93 employees, after the Federal Employment Agency rejected the retailer’s application for pre-financing of insolvency benefits, affecting approximately 400 workers. The layoffs ...
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Phoenix Kothari Footwear increases investment in India’s Tamil Nadu state
Phoenix Kothari Footwear, a joint venture between Chennai-based Kothari Industrial Corporation and Taiwan’s Evervan Group, will invest 5,000 crore rupee (€552m) to set up factories to produce non-leather footwear in Eraiyur and Karur in the southern state of Tamil Nadu, the Indian publication The Hindu BusinessLine reported. In the Indian ...
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Semler files for bankruptcy
The traditional German shoe manufacturer Carl Semler GmbH filed for bankruptcy at the Pirmasens Local Court as a massive drop in sales and payment defaults took their toll on the company’s bottom line. The court appointed restructuring expert Lukas Eisenhuth of the law firm Abel and Partners as general representative ...
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ArticleGörtz faces insolvency again
One and a half years after the end of its insolvency proceedings, the troubled Hamburg-based shoe retailer Görtz is once again facing bankruptcy. On Jan. 20, the Hamburg District Court appointed the lawyer Gideon Böhm of the law firm Münzel & Böhm as provisional insolvency administrator, after four creditors filed ...
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Munro closes down
Munro & Company, Inc, a US footwear company based in Hot Springs, Arkansas, announced that it is closing down. “With heavy hearts, we are sad to announce that after 52 years of designing, developing and manufacturing high quality size and width footwear, Munro will cease operations in early 2025,” the ...
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ArticleSneakersnstuff files for bankruptcy
For the first decade of the millennium, it was the hip Södermalm neighborhood in central Stockholm where the sneaker world turned its attention when it came to product releases for limited-edition shoes. Outside the store of Swedish sneaker retailer Sneakersnstuff, or SNS as the industry, colleagues and sneaker fans all ...
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Clarks completes the sale of its UK pension liabilities
The Pension Insurance Corp. (PIC) has completed an annuity buy-in with the C.& J. Clark Pension Fund, the benefit plan of C. & J. Clark International Ltd. The buy-in will cover £540 million pounds (€644m) of plan liabilities for 8,000 members. In 2022, PIC had a already bought £280 million ...
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Dass closes a factory in Argentina
Dass, a Brazilian footwear manufacturer specializing in sports shoes, has closed a plant located in the Argentine town of Coronel Suárez due to adverse market conditions in Argentina. According to the local press, the closure will result in 360 job losses. The plant produced shoes for the brands Adidas, Nike ...
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ArticleGeox plans to raise €60m to finance its business plan
Geox announced a refinancing program that includes €60 million in fresh capital to finance its business plan spanning from 2025 to 2029. The Italian footwear company reached an agreement with a pool of banks – including Banca Monte dei Paschi di Siena, Banca Nazionale del Lavoro, Banco BPM, BPER Banca, ...
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Jimmy Choo opens a new office for its supply chain management
Jimmy Choo is scheduled to open its new offices for the management of the supply chain on Jan. 7. Located in Scandicci, near Florence, the 3,000-square-meter building has three floors containing offices and warehouses, and a further 2,600-square-meter basement for parking and utility rooms. The British shoemaker is owned by ...
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ArticleHong Fu breaks ground on its Tamil Nadu factory
On Dec. 16, MK Stalin, the Chief Minister of the Indian state of Tamil Nadu, laid the foundation stone for a manufacturing unit of the Taiwanese footwear firm Hong Fu Industrial Group at the SIPCOT Park Industrial Estate at Panapakkam in the Ranipet district. The 1,500 crore rupee (€168 million) ...
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ArticleFuture Fashion winds down DIS
The Italian footwear brand DIS will stop operating on Dec. 31, 2024 after its parent company Future Fashion decided to close down the loss-making business. Created in June 2015, DIS, which stands for Design Italian Shoes, offered customized footwear through online sales or dedicated corners in third party stores. DIS ...
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ArticleOtto Group changes legal status
The German mail order company Otto, owner of the Freemans, About You, Bonprix and Evri businesses, among others, is preparing to change its legal form and streamline its corporate structure as a generational handover gets underway. “In the course of the forthcoming generational change at the helm of the Otto ...
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OrthoLite expands its Indian business
OrthoLite has significantly expanded its operations in India with a larger manufacturing facility in Ambur, Tamil Nadu, and a new sales office in Chennai. This growth comes as part of the company’s strategy to meet increased demand under new leadership and to support its growing brand partnerships in the region. ...
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Le Coq Sportif placed into receivership
A Paris-based commercial court has placed Le Coq Sportif into receivership. The Swiss group Airesis, which owns 75 percent of the French sportswear firm, indicated that Le Coq Sportif had applied to open a judicial restructuring procedure. The court confirmed the procedure. Le Coq Sportif will continue operating but has ...
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Wolverine opens an innovation hub in Boston
Wolverine Worldwide, Inc. (WWW) has opened a new global Innovation Hub on 90 Causeway Street in Boston, Massachusetts. The 11,000-square-foot facility will accommodate employees from the group’s design and product teams, including Saucony product team members specializing in design, development, product management and merchandising. The opening on Nov. 14 comes ...
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Bär and Joe Nimble have become independent companies
The shoe companies Bär and Joe Nimble have separated with retroactive effect. The comfort shoe brand Bär and running shoe brand Joe Nimble, which were previously managed under Bär GmbH, have been operating as independent companies since July 1. The separation was the result of a decision by the brothers ...
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ArticleLloyd Shoes changes name to Lloyd Lifestyle
The German shoemaker Lloyd Shoes has changed its name to Lloyd Lifestyle GmbH, reflecting the brand’s new direction, the company announced. The name change follows the acquisition by Swiss sports and lifestyle firm Arklyz AG and mirrors the company’s’ new strategic direction. “This change reflects the company’s strategic shift ...
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Soex files for bankruptcy
The textile and shoe recycler Soex has filed for bankruptcy amid increased competition from Asia and following the demise of its traditional markets in Eastern Europe. The Reinbek Local Court accepted the application and appointed attorney Matthias Wolgast of the Münzel & Böhm law firm as provisional administrator. The restructuring ...
