Latest Headlines – Page 100
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ArticleClarks' shareholders approve £100m rescue deal with LionRock Capital
Shareholders of the British shoe maker Clarks have approved the £100 million (€110m - $134m) rescue deal with the Hong Kong-based private equity firm LionRock Capital. The iconic 195-year-old retailer was forced to seek financial help under a company voluntary arrangement (CVA) amid plunging sales in a weak trading environment ...
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ArticleDiversity and inclusion are a growing corporate issue
In 2020, the year of the Black Lives Matter (BLM) protests, diversity and inclusion burst onto the public agenda. The theme has emerged on companies’ radars, too. Diversity and inclusion are increasingly criteria by which companies are evaluated. And, while some footwear and sportswear brands have come under fire for ...
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Vivarte’s full-year sales down by 26%
Vivarte, the French retailer that sold its former flagship La Halle in July to Groupe Beaumanoir, recorded sales for the fiscal year ended in August of €256.6 million, a 26 percent drop from the previous year on a comparable basis. Since the arrival of Patrick Puy at the head of ...
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ArticleIndustry Insights: How to find new B2B business in a digitalized market
The past spring created for most of us a feeling of pandemic panic and business paralysis. Offices were shut down and most employees were asked to work from home. From a pure productivity perspective, it gave a temporary feeling of winning back control of time. Time freed up from commuting ...
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ArticleHow Covid-19 has impacted companies’ trade show budgets
It has become commonplace to say that the Covid-19 pandemic has dramatically accelerated trends that were already underway with the digitalization of the economy and society in general. Trade shows have been one the sectors most affected by the phenomenon as restrictions on travel and mass events worldwide prompted them ...
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ArticleArcadia break up starts as Australia’s City Chic buys Evans for £23 million
The breakup of Philip Green’s Arcadia retail empire has started with the £23 million (€25m - $30.6m) sale of the plus-size clothing brand Evans to the Australian firm, City Chic Collective. Deloitte, appointed as administrator after Arcadia collapsed last month, said the deal excludes physical stores, with City Chic operating ...
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ArticleMicam wins ICMA advertising award
Micam’s advertising campaign Micam in Wonderland has won the gold medal at the ICMA International Creative Media Award for best social media project of 2020. Micam was assisted by MM Company and Laureri Associates. The Milan-based trade show said that it had “succeeded in the enterprise of using an ironic ...
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ArticleKering investigated by French financial prosecutor
Kering said that the French financial public prosecutor (Parquet National Financier) has opened a preliminary inquiry concerning the company in February 2019. The French luxury goods group added that it had not previously been informed of the inquiry. The comments come following media reports about the prosecutor investigating the company ...
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ArticleNice Footwear books €12 million in orders for spring/summer collection
The Italian footwear company Nice Footwear has booked orders representing a value of more than €12 million for the spring/summer season and expects to finish the full year, ending on April 30, 2021, with sales of more than €20 million. In the previous financial year, the top line totalled €23.5 ...
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ArticleInditex posts better-than-expected Q3 results
In the third quarter running from Aug. 1 to Oct. 31, Inditex, the Spanish group that owns the brands Zara, Pull Bear, Massimo Dutti , Bershka, Stradivarius, Oysho, Zara Home and Uterqüe, posted sales of €6.1 billion, down by 14 percent year-on-year following a contraction of 31 percent in the ...
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ArticleJD Sports expands massively in Western U.S. with Shoe Palace acquisition
JD Sports Fashion, a British retailer and distributor of sportswear and fashionwear, has acquired the American company Shoe Palace from the Mersho family in a cash and stock deal worth over $680 million. JD Sports, through its wholly-owned holding company in the U.S., Genesis, acquired 100 percent of both the ...
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ArticleEU, UK extend Brexit trade talks in effort to avoid a “no deal”
The United Kingdom and the European Union had decided to wait until Sunday, Dec. 13 to find a compromise on a trade agreement that would go into effect on Jan. 1. But, the European Commission’s president, Ursula von der Leyen, said the negotiators will now continue to work into this ...
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ArticleSpartoo gives JB Martin a second chance
JB Martin, a well-known French shoe company, was put into liquidation by the Paris Commercial Court on June 2, 2020. After several years of difficulties, the company suffered a death blow from the Covid-19 pandemic. Two weeks after the court ruling, its 125 employees received their letters of dismissal. The ...
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ArticleObuv Rossii undergoes rebranding as it moves away from shoes
The Russian footwear retailer Obuv Rossii is changing names to mark its diversification away from shoes. The company is removing the word Obuv (meaning shoes in Russian) from its name to become simply OR for the main operating unit and OR Group for the parent company. Even the stock ticker ...
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ArticleRussian law enforcement agencies keep seizing untagged shoes
Russian police have seized big batches of counterfeit shoes in St. Petersburg and in the Chelyabinsk and Novosibirsk regions. In Novosibirsk, for example, police officials seized 1,338 pairs of shoes that did not have the QR codes that became mandatory in Russia on July 1 to help wipe out counterfeit ...
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ArticlePeter Kaiser enters insolvency proceedings
Peter Kaiser Schuhfabrik, the German manufacturer of women’s shoes, has gone into insolvency. The proceedings were opened on Dec. 1, after the company filed an application with the Pirmasens district court on Sept. 14. Self-administration was ordered and talks with several potential investors are currently being held. Legal counsel Günter ...
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ArticleThe U.K. reaches trade accord with Vietnam, but deal with EU unlikely
The U.K. has finalized a free trade agreement with Vietnam, which is scheduled to become effective from Jan. 1. It is the third trade agreement reached with an Asian country, after those with Singapore and Japan. The U.K. has also reached a preliminary trade agreement with Canada. The U.K. is ...
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ArticleEU to cut greenhouse emission by 55% by 2030
The 27 members of the European Union agreed on Dec. 11, after a night of negotiations, to reduce by at least 55 percent their greenhouse gas emissions by 2030, compared with 1990 levels, increasing the target from a previous objective of 40 percent. “Europe will reduce emissions by at least ...
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ArticleJoya expands in Austria with Passt takeover
The Swiss brand of comfort shoes Joya has strengthened its position in the Austrian market by acquiring Passt’s six stores across the country in a bid to consolidate its retail presence and further develop the brand. Established in 2008, Passt is a retailer of comfort shoes with stores in ...
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ArticleDesigner Brands expects to struggle well into 2021
The American shoe retailer Designer Brands, formerly known as DSW, believes that the Covid-19 pandemic will continue to have a significant impact on its business next year and does not expect significant improvement until late spring 2021 or even the next back-to-school season. While releasing results for the third quarter, ...
