Latest Headlines – Page 110
-
ArticleFerragamo sales improve in July after plummeting in Q2
Salvatore Ferragamo’s first-half sales amounted to €376.5 million, declining by 46.6 percent year-on-year on a reported basis and by 46.9 percent at constant currency rates. In the second quarter, revenues were down by 60.1 percent at current exchange rates and by 59.4 percent in local currencies when the impact of ...
-
ArticlePrada first-half sales down by 40 percent
The Italian fashion house Prada posted first-half sales of €938 million, down by 40 percent at constant currency rates, as 40 percent of its retail network was closed on average from February to May, reaching a peak of 70 percent in April due to coronavirus-related lockdowns. Global retail sales were ...
-
ArticleFootwear production is on the rise, while retailers review their strategy
Footwear manufacturers have returned to production levels ranging from an estimated 50-80 percent in India, China and Portugal after the havoc caused by the Covid-19 pandemic. But the outlook remains uncertain and the crisis has led some players to rethink distribution and retailing.
-
ArticleVögele Shoes goes multichannel, focuses on digitalization
Swiss footwear retailer Vögele Shoes is revising its strategy and organization in a bid to reposition itself as an omnichannel retailer and cater to its customers’ needs through a data-driven approach and a wide range of digital touchpoints. During the Covid-19 related lockdown, Karl Vögele AG, which owns the banners ...
-
Article
LVMH first-half revenues down by 27%
LVMH’s first-half revenues fell by 27 percent to €18,393 million, with organic sales declining by 28 percent, due to the impact of the Covid-19 pandemic. The French luxury goods group has observed strong signs of an upturn in activity since June, but remains “very vigilant” for the rest of the ...
-
Article
Chaussea obtains 128 La Halle stores
The French footwear retailer Chaussea is taking over 128 stores and 700 employees of the apparel and footwear retailer La Halle, which is being sold piecemeal after filing for insolvency. Founded in 1984 in Valleroy, near Metz, by Gaëtan and Michel Grieco, the sons of Italian immigrants from Basilicata, the ...
-
ArticleScarpe & Scarpe seeks debt restructuring agreement with creditors
The Turin-based footwear and apparel retailer Scarpe & Scarpe has entered into a preliminary insolvency procedure, known pre-concordato or concordato preventivo in bianco, granting it temporary protection from creditors while seeking a debt restructuring arrangement. Usually, the procedure provides a company two to four months to reach an agreement with ...
-
ArticleSkechers posts loss in Q2, builds on e-commerce momentum
The pandemic significantly impacted Skechers during the second quarter, as it ended the period with a net loss of $68.1 million against a profit of $75.2 million for the same quarter last year. Its revenues tumbled by 42.0 percent to $729.5 million, or by 41.0 percent in constant currencies. These ...
-
Article
Partial management buy-out for Globus
Globus, the big Swiss department store chain, and its Navyboot and Schild subsidiaries are changing hands again, just a few months after the Austrian-based Signa Retail Group and Thailand’s Central Group joined forces to take over the Swiss group this past February from the previous owner, the Migros cooperative of ...
-
Article
Klarna moves to contain impulse buying
Klarna, the Swedish online financial services specialist that works with groups including VF Corp.’s brand Timberland, Scottish footwear retailer Schuh and British online fashion retailer Asos, has launched a new campaign in the UK called KlarnaSense to encourage shoppers to ”think thrice” before making purchases. The campaign against impulse buying ...
-
Article
Desma’s “factory of the future” is completed
Desma Schuhmaschinen GmbH, one of the world’s leading manufacturers of machines and systems for industrial shoe manufacturing, has completed its new production and office building in just one year. The manufacturing and commercial divisions are expected to move into the new premises, which are located in Achim near Bremen, by ...
-
Article
Obuv Rossii enter logistics partnership with the Russian state mail operator
Obuv Rossii, a leading Russian footwear retailer, has appointed the country’s state-owned mail operator Russian Post its main logistics partner. The postal operator will be handling the delivery of orders from Obuv Rossii’s central warehouse to customers in Siberia. Russian Post has the largest network in Russia, with more than ...
-
ArticleCirillo Marcolin takes over presidency of Confindustria Moda
As planned, Cirillo Marcolin has taken over the rotating presidency of Confindustria Moda, the umbrella organization of the Italian fashion industry, replacing Claudio Marenzi. Confindustria Moda comprises Sistema Moda Italia (SMI), which groups the textile and apparel firms operating in the country; Assocalzaturifici, the shoemakers’ association; Assopellettieri, formerly called Aimpes, ...
-
Article
Tapestry’s CEO resigns less than a year in the job
Jide Zeitlin, the chairman and chief executive of Tapestry, has resigned with immediate effect for personal reasons, less than one year after becoming CEO. Tapestry, a New York-based luxury goods house, owns the brands Coach, Kate Spade and Stuart Weitzman. In September 2019, Zeitlin replaced Victor Luis as CEO while ...
-
ArticleEcco joins expanding list of footwear firms boycotting Facebook
Denmark-based shoe manufacturer Ecco is continuously reviewing advertising efforts on social media platforms “to be in alignment with company values” after its U.S. arm earlier this month joined the growing list of footwear and other firms boycotting Facebook and Instagram to protest policies for handling online hate speech and misinformation. ...
-
Article
Marc Fisher takes over Calvin Klein footwear license in North America
Marc Fisher Footwear has entered a multi-year license agreement with Calvin Klein for the design, production and distribution of both Calvin Klein and Calvin Klein Jeans women’s and men’s footwear collections in the U.S. and Canada. The move comes as the footwear license held by Jimlar, a unit of Global ...
-
ArticleEuropean footwear and apparel manufacturers call for re-shoring, tariff review
The European Footwear Confederation (CEC) is calling along with three other employers and labor representatives of the textile, clothing and leather industries, for a re-shoring of production and a review of preferential trade tariffs under the European Union’s Generalised Scheme of Preferences (GSP). The Covid-19 crisis has shown that transferring ...
-
ArticleBrazilian shoe production seen falling up to 29% in volume this year
Brazil’s footwear production could fall by between 21.0 and 29.2 percent this year to 643.4-717.5 million pairs due to the impact of the Covid-19 pandemic, according to a survey released by Abicalçados, the country’s association of footwear manufacturers. In value, the decline could be shallower, reaching 18.2 to 27.4 percent, ...
-
Article
Antares eyes distressed Italian fashion assets
Italian private equity and debt-management group Antares is launching a new fund targeting investments among the country’s small and mid-sized financially-struggling fashion companies, whose ranks have grown with the Covid-19 pandemic. Antares has already raised €50 million in fresh cash for its “luxury and lifestyle” turnaround fund, largely with Italian ...
-
Article
Zalando significantly improves its full-year guidance after Covid-19 outbreak
Zalando expects full-year gross merchandise volume (GMV) to rise by 20-25 percent and revenues by 15-20 percent, with adjusted Ebit reaching €250-300 million, as the German online fashion retailer benefited from the impact of the Covid-19 pandemic. The previous guidance, published on May 6 in an attempt to estimate the ...
