Latest Headlines
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ArticleConsumer and business sentiment sinks in Europe
Consumer confidence continues to decline significantly in Europe due to rising inflation, an erosion in purchasing power and concern about the future due to a worsening of the macroeconomic environment and rising geopolitical tension following Russia’s invasion of Ukraine on Feb. 24. In October, German consumer sentiment is expected to ...
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Boohoo issues profit warning as H1 sales slump, product returns increase
Boohoo has issued a profit and sales warning after a 10 percent fall in first-half revenues driven by the cost-of-living crisis. The fast-fashion online retailer, whose brands include Pretty Little Thing and Nasty Gal, said revenues fell to £882million (€986.7m) in the six months to Aug. 31 and forecast annual ...
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How reshoring to Spain is being hampered by labor and capacity shortage
Demand to reshore footwear manufacturing from Asia to Southern Europe, and especially to Spain, is growing, but the Iberian country is lacking the capacity needed to significantly boost production, while exports of Spanish made shoes are back to pre-pandemic levels. “We are at full capacity and there is no more ...
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Pittards sees ‘strong’ order book after H1 sales rise 7%
Pittards, the British leather and leather goods company, posted revenues in the first half ended June 30 of £10.4 million (€11.7m), up by 7 percent on the year earlier, as its sales order book remained “strong” across market sectors. The gross margin in the six-month period widened to 30 percent ...
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Italian shoemakers start using the VCS self-assessment ESG program
VCS (Verified & Certified Steps), a software package allowing the self-assessment of environmental, social and governance (ESG) performances launched by Assocalzaturifici, the Italian footwear association, is currently being tested by three Italian shoemakers. “We chose three companies of different sizes and with different business models” for the pilot tests, explained ...
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German shoemakers concerned about the future despite H1 rebound
Despite a strong rebound in domestic and foreign sales in the first half of 2022, German shoemakers are concerned about the business environment due to growing inflation and the erosion of the purchasing power of consumers. Among German footwear manufacturers with more than 50 employees, sales rose by 11.6 percent ...
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San Marina placed into receivership
The French footwear retailer San Marina was placed under controlled administration, or receivership, on Sept. 22 at its request by a Marseille-based commercial court. San Marina employs 673 people in 163 stores in France. The so-called observation period of the receivership is set to last until March 23, 2023, ...
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Tod’s’ minority shareholder buyout to start on Sept. 26
DeVa Finance, which is controlled by DI.VI. Finanziaria di Diego Della Valle & C, announced that its offer to buy out Tod’s’ minority shareholders will run from Sept. 26 to Oct. 25. The company is offering €40 per share and is seeking to buy a 25.55 percent stake in the ...
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Secondhand online marketplaces on the rise
Cross-border marketplaces are developing fast, and the C2C trend is one of the drivers.
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Italy faces a huge population decline
Italy is facing a huge decline in population as well as significant demographic changes that are likely to prompt further labor shortage and modify consumption patterns. Italy’s population is expected to drop from an estimated 59.2 million on Jan. 1, 2021, to 57.9 million in 2030, 54.2 million in 2050 ...
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Görtz and Surf4Shoes file for bankruptcy amid uncertainty, soaring inflation
Görtz and Surf4Shoes are among the latest companies caught in a wave of bankruptcies that appears to be gathering pace in Germany. Heightened consumer uncertainty, sky-rocketing inflation and rising energy prices are seen as the main destabilizing factors, as the war in Ukraine rages and the European Union’s sanctions against ...
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Hotter Shoes lifts sales but notes pressure on consumer spending
Hotter Shoes’ owner, Unbound Group, reported higher half-year sales and margins driven by strong demand, despite the tougher economic outlook. Unbound, formerly known as Electra Private Equity, said revenues rose to £27.6 million (€31.60m) from £25.0 million, driven by its multi-channel sales model. It posted a pre-tax loss of £2.14 ...
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EU expects to strike a trade deal with Indonesia in 2024
The European Union expects to be able to reach a free trade agreement with Indonesia within two years, despite a trade dispute regarding palm oil and nickel, according the European Commission’s Executive Vice President and Commissioner for Trade, Valdis Dombrovskis. Dombrovskis believes it is possible to reach a comprehensive economic ...
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Half of Italian footwear companies' revenues still below pre-Covid levels
After a year-on-year increase of slightly more than 16 percent in the second quarter of 2022, revenues of Italian footwear manufacturers grew by 14.5 percent in the first half of the year, beating expectations. However, growth remains uneven, benefitting mainly to established brands while small producers, which are the backbone ...
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A report confirms the shift out of China into Vietnam
A report available on ResearchAndMarkets.com indicates that Nike and Adidas are leading a move out of China into Vietnam for the manufacturing of shoes, confirming a trend that has been observed in data and analyses that Shoe Intelligence has collected over the past years. The document called “Research Report on ...
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Nice Footwear’s sales and profits rise sharply
Nice Footwear posted strong top line and bottom line growth in the full year ended on April 30, 2022, despite a rise in costs. Revenues grew by 51 percent to €32.8 million, with €17.1 million of sales achieved in Italy and €15.7 million abroad. The top line of Italian footwear ...
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Micam attracts over 1,000 brands
Micam will host 1,012 brands at its forthcoming edition, scheduled from Sept. 18 to 20, or 23 percent more than during its March 2022 edition. Fifty-four percent of the brands are Italian and the remaining 46 percent come from abroad. Micam, which will be held at the Fieramilano Rho exhibition ...
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Inditex books strong H1 sales
Inditex, the Spanish group that owns the brands Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius and Oysho, posted sales of €14.8 billion in the first half ended July 31, up by 24.5 percent from a year ago and 25 percent higher at constant currencies despite the current inflationary environment and closure ...
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How Italian manufacturers are crossing the Rubicon to preserve their industry
A group of Italian shoemakers and components manufacturers located in San Mauro Pascoli have decided to join forces and create a consortium called Rerum, which starts for Rete Rubicone Moda, to preserve the cluster’s supply chain. Rubicone, or Rubicon in English, is the name of a nearby river famously crossed ...
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Stuart Weitzman expects to outperform the market
Stuart Weitzman, the premium footwear brand of the U.S. fashion group Tapestry, expects to overperform the market in the coming years. It forecasts to increase revenues from $317.7 million in the full year ended on July 2 to $450 million in fiscal 2025, representing a compound average growth rate (CAGR) ...
