Latest Headlines – Page 104
-
ArticleRecord Q3 revenues for Crocs
Thanks to ”exceptional consumer demand and strong sell throughs,” Crocs saw its third-quarter revenues jump by 15.7 percent from the year-ago quarter to a record $361.7 million. In constant currencies they gained 15.9 percent. The company recorded growth in all channels and geographies. It also saw record sales in e-commerce, ...
-
ArticleEl Corte Inglés offers e-commerce support to third parties
The Spanish department store El Corte Inglés is in talks with 100 brands to become their e-commerce partner, according to the Spanish daily Cinco Dias. But, no deals have been struck yet, it added, citing the company. The retailer would rely on its logistics platform to guarantee all the services ...
-
ArticleOwner of the Mario Bruni brand fills for creditor protection
Spring, the Italian shoe maker that owns Mario Bruni, a brand of quality dress and formal men’s shoes, has filed for bankruptcy protection in order to reach an agreement with creditors or restructure its activity. Based in the Marche region’s footwear cluster, Spring was created in 1956 under the name ...
-
ArticleHR Group hires new managing director for Reno
The German shoe retailer HR Group has a new managing director for its Reno footwear chain. Starting from Nov. 1, the retail expert Steffen Rosenbauer will join the company, taking responsibility for Reno’s entire international brick-and-mortar retail as well as the chain’s e-commerce and marketing. The Reno shoe chain ...
-
ArticleFootway to launch a new e-commerce platform mid-Q4
Footway, the Swedish online shoe retailer, plans to launch a new e-commerce platform around the middle of the fourth quarter. The platform is based on a common global infrastructure to which all the group’s e-stores will be connected. The company runs the stores Footway, Sportamore, Brandos and Solestory. The move ...
-
ArticleAustralian billionaire buys R.M. Williams
An Australian billionaire, Andrew Forrest, has bought R.M. Williams, the producer of an iconic Australian outback boot, from L Catterton, a private-equity company backed by LVMH, and some minority shareholders including the Australian actor Hugh Jackman. No financial details were disclosed but the Australian Financial Review said that the selling ...
-
ArticleSustainable financing becomes fashionable
The French fashion group Chanel in September became the latest company in the business to make use of sustainable financing, an increasingly important accessory in the portfolio of companies that are looking to lower their environmental footprint. Chanel offered €600 million in “sustainability-linked” bonds to finance the achievement of carbon ...
-
ArticleContrasting consumer sentiment across Europe
The second wave of the Covid-19 pandemic is beginning to stifle the previously expected recovery of the European economy, particularly for the consumption of non-essential products and services. Fortunately, it has not yet led to the retail lockdowns of the first wave in the spring – except in Wales and ...
-
ArticleStella continued to struggle in Q3
In a business update for the third quarter, Stella International said shipment volumes declined by 23.6 percent from the year-ago quarter to 12.3 million pairs, while its total sales plunged by 23.3 percent to $344.5 million, including those of its in-house brands. The Chinese footwear company’s revenues from manufacturing improved ...
-
ArticleU.K. government under pressure over move to scrap tax-free shopping
The British Finance Minister Rishi Sunak is under mounting pressure from major retailers to reverse his decision to abolish duty-free shopping next year which they claim will lead to significant job losses. Leading U.K. fashion and luxury brands, including Paul Smith, Ted Baker, The White Company and Superdry, have warned ...
-
ArticleNew Italian fashion firm could expand into footwear
A newly created high-end Italian fashion firm known as Florence could look to expand into footwear and other accessories in the medium term after having built up a manufacturing hub in clothing, said Francesco Trapani, the chairman of Florence and former chief executive of Italian luxury jeweler Bulgari. Florence has ...
-
ArticleFootwear stores hit hard in Moscow, St. Petersburg
In September, independent footwear stores in Russia experienced, on average, a 17 percent slump in sales, compared with the same period of the previous year, on the back of a second wave of Covid-19 in the country, Moscow-based think tank Evotor estimated. It is believed that chains are performing slightly ...
-
ArticleKurt Geiger plans 500 job cuts over U.K. plan to drop tax-free shopping
Kurt Geiger, a luxury footwear and accessories retailer, plans 500 job cuts, affecting over a quarter of its workforce, early next year after the British government announced that it would abolish tax-free shopping on Dec. 31. The standard value-added tax (VAT) is 20 percent in the U.K. In a letter ...
-
ArticleVF returns profitable in Q2
After recording a loss and steep declines in revenues during its first fiscal quarter, VF Corp. , whose core brands are Vans, The North Face and Timberland, bounced back in the second quarter, ended on Sept. 26, with a smaller decline in sales and a return to profits. The management ...
-
ArticleU.K. threatens no-deal Brexit but talks to continue
Tensions on stalled Brexit trade talks intensified as Boris Johnson, the British Prime Minister, said Britons should prepare for a no-deal departure if the European Union (EU) did not compromise, raising the prospect of supply chain chaos across Europe. Johnson stopped short of saying he was walking away from the ...
-
ArticleHigg to launch Open Data Portal to validate brands’ sustainability claims
At the Copenhagen Fashion Summit, technology company Higg Co has unveiled its new Open Data Portal, introducing sustainability transparency to the apparel industry at a global scale. Expected to launch in 2021, the new portal, developed in partnership with the Sustainable Apparel Coalition (SAC), will feature access to the actual ...
-
ArticleVF matches its management to its new business model
VF Corporation is changing its management structure to suit changes in the way it does business, notably the grouping of all brands into dual portfolios. Core Brands comprises Vans, The North Face (TNF) and Timberland. Doug Palladini and Steve Murray have become global brand presidents of Vans and TNF, respectively. ...
-
Article
Wolverine takes its sales conference digital again
Because of Covid-19 and its related safety measures, Wolverine Worldwide has expanded its partnership with Envoy B2B, taking its buyers’ conference digital. The American company was obliged to cancel its Global Brand Conference in the spring, depriving its 12 brands of a means to introduce their new products to the ...
-
ArticleAsos to focus more on activewear
Fashion e-tailer Asos will expand its activewear offering as locked-down clients spurned party outfits in favor of sportswear and exercise gear during the Covid-19 pandemic, helping the company to almost quadruple full-year profits. The company said grabbing a greater share of the “huge” sportswear market along with beauty products is ...
-
ArticleLenzing, Covestro help spearhead Renewable Carbon Initiative
Materials producers Lenzing and Covestro are among 11 companies from six countries that recently joined forces to launch the Renewable Carbon Initiative (RCI). The initiative, under the leadership of German research institute nova-Institute, aims to phase out the use of fossil fuels for all organic chemicals and materials by 2050 ...
