Latest Headlines – Page 106
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ArticleAdidas issues maiden sustainability bond
Adidas has announced the successful placement of its first sustainability bond, whose offer was more than five times oversubscribed. The €500 million bond carries a 0.00 percent coupon and has a duration of eight years. It is divided into five equal tranches and will be listed on the Luxembourg Stock ...
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ArticleFagus-GreCon appoints Michael Gawronski as co-managing director
Fagus-GreCon Greten has appointed Michael Gawronski as co-managing director. He shares the job with Uwe Kahmann, who has been managing director since 2007. The group’s Fagus business produces shoe lasts, while the GreCon unit focuses on measuring equipment and fire protection systems. Gawronski will focus mainly on technical matters, while ...
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ArticleBoohoo raises FY guidance on H1 results
The British online fashion group Boohoo has raised full-year forecasts after a better-than-expected 51 percent rise in first-half pre-tax profits to £68.1 million (€74.6m - $87.4m). Sales for the six months to Aug. 30 rose by 45 percent to £816 million (€894.6m - $1.04bn). The company benefited from being able ...
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ArticleBirkenstock ends cooperation with purchasing groups in Germany
Birkenstock is pulling out of the German shoe retailing cooperatives ANWR, GMS and Sabu on the grounds that they are allegedly not sufficiently committed to fighting product piracy. The withdrawal takes effect from December 31. Birkenstock has been a member of the trade associations for more than five years. From ...
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ArticleAllbirds raises $100 million in funding round
Allbirds, the Californian brand of sustainable footwear, has closed a $100 million Series E funding round led by Franklin Templeton, alongside T. Rowe Price, Baillie Gifford, TDM Growth Partners, Rockefeller Capital Management and other investors. According to The Wall Street Journal, which cites an inside source, the equity increase gives ...
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ArticleBrand reshuffle in the Brazilian footwear industry
An asset reshuffle involving three of Brazil’s leading footwear manufacturers will result in Grendene boosting its women’s collection, Vulcabras Azaleia focusing on sportswear and Alpargatas concentrating on its key brands, including Havaianas.
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ArticleVRG reaches deal with creditors, to proceed with capital hike
The board of Venue Retail Group (VRG), a retailer of shoes, bags and accessories that operates in Sweden and Norway, has decided to proceed with a Swedish Krona 94.5 million (€8.9m-$10.4m) rights issue. The Swedish company has received subscription commitments and guarantee commitments totaling approximately SEK 73.5 million (€6.9m-$8.1m). The ...
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ArticleChanel issues €600 million in green bonds
The fashion house Chanel placed €600 million in sustainability-linked bonds, or green bonds, that will finance the achievement of carbon reduction targets outlined in its Mission 1.5° plan. The company aims to halve its own emissions by 2030, cut the greenhouse gas emissions of its supply chain by 10 percent ...
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ArticleSioux completes restructuring of wholesale division
Less than three months after filing for insolvency, Sioux GmbH successfully underwent a restructuring that will allow the wholesale business to remain part of Sioux Group. The company, which deals with shoe retailers for the Sioux Group, is being taken over by Sioux Schuh GmbH, a newly established subsidiary of ...
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ArticleHarald Neisser, industry veteran and former Rohde managing director, dies at 68
Shoe expert and industry insider Harald Neisser died on Sept. 20, after a serious illness. Serving most recently as a consultant for the German firm Erich Rohde, where he was previously managing director, Neisser was 68 years old. He was active in the shoe industry for decades in different capacities ...
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ArticleHong Kong’s LionRock reportedly enters Clarks bidding war
Iconic UK shoe retailer Clarks is reportedly the target of two suitors vying to take a stake in the troubled firm. Hong Kong-based private equity firm LionRock Capital has entered the race to refinance the company, which could see the end of 200 years of majority family ownership. LionRock is ...
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ArticleGoat, the sneaker reseller, is valued at $1.75 billion as it raises more funds
With the resale market being as hot as ever, no doubt due partly to the increasing role that the internet is playing, the U.S.-based Goat Group closed an additional Series E funding round $100 million, saying that it was intended to accelerate its development across product categories and geographies. According ...
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ArticleEram enters the second-hand market
Second-hand, or pre-owned, fashion is a growing trend in France, with brands such as Kiabi, Gémo and Jacadi all launching pre-owned clothing projects. Shoe and apparel retailer Eram has decided to join in, and has recently been testing several schemes offering second-hand fashion items in stores, both for shoes and ...
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ArticleAnt Group debuts cross-border trade platform
Chinese fintech company Ant Group, part of e-commerce giant Alibaba, launched an international trade and financial service platform powered by its blockchain-based technology solution AntChain to facilitate the cross-border sale of products and services by small and medium enterprises (SMEs) and to reduce costs for financial institutions serving these companies. ...
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ArticleMicam, sister fairs attract 16,000 buyers
The footwear trade show Micam Milano, along with four other events representing the Italian fashion industry and that overlapped over a five day-period at the Fiera Milano Rho exhibition hall, attracted 16,000 buyers. The fairs united under the #strongertogether banner. The other events were Mipel, dedicated to leather goods and ...
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ArticleKlarna grows in the pandemic
One clear sign of the boom in the “buy now, pay later” (BNPL) model is the latest fundraising round of Klarna, which saw the Swedish online payments group set a new record for the valuation of a European private fintech company at $10.65 billion, nearly double the $5.5 billion valuation ...
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ArticleZalando launches pre-owned trade on its platform
Zalando has started trading pre-owned, or second-hand, fashion items on its platform. The online retailer launched the service in Germany and Spain on Sept. 21, and will roll it out in Belgium, France, the Netherlands and Poland in October. If successful in those markets, Zalando could expand the service to ...
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Chamatex to open “smart” footwear factory in France with Salomon and others
French textile producer Chamatex has teamed up with Salomon, Babolat and Millet as well as an investment company on the construction of a new footwear manufacturing facility called Advanced Shoe Factory 4.0 (ASF 4.0) in the Auvergne-Rhône-Alpes region of France. ASF 4.0 was founded by Chamatex with the goal of ...
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ArticleBob Gore, inventor of Gore-Tex, has died
Robert W. “Bob” Gore, chairman emeritus of the board of directors of W. L. Gore & Associates, died on Sept. 17 at the age of 83. Gore sat on the board of his family’s materials science company for 57 years, 30 of them as chairman, and served as president from ...
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ArticleBugatti cuts jobs but its shoe license recovers
In the wake of a sharp drop in sales as a result of the Covid-19 pandemic, the German clothing supplier Bugatti announced that almost 100 of the 349 jobs at its headquarters in Herford will be axed. “All areas and hierarchical levels” are affected, it said in a statement. Current ...
