Latest Headlines – Page 111
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ArticleChange of ownership for Clergerie
First Heritage Brands has sold Maison Clergerie, the French maker of luxury footwear, to French Legacy Group, an investment fund of Swiss-based Mirabaud Asset Management. The financial terms of the transaction could not be obtained. In 2011, Robert Clergerie, the designer and founder had sold his company to First Heritage ...
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Asos sees FY profits at top end of expectations after lockdown sales surge
Online fashion retailer Asos expects annual pre-tax profit to be at the top end of expectations after a sales surge driven by purchases of casual and active wear during the coronavirus lockdown. Group sales in the four months to June 30 rose to £1.01 billion (€1.1bn-$1.3bn) from £919.8 million in ...
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Hotter Shoes submits debt restructuring plan to creditors
UK footwear chain Hotter Shoes has reportedly gone ahead with plans to file a company voluntary arrangement (CVA) proposal to creditors and shareholders seeking approval to close 46 stores as it deals with the impact of the coronavirus pandemic. The plan would leave the company, owned by Electra Private Equity, ...
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Floris van Bommel enhances the delivery service to retailers
The Dutch shoemaker Floris van Bommel has reorganized the delivery service to wholesale clients to increase flexibility. For the spring/summer 2021 season, five delivery time windows will be offered to retailers, up from three previously. Delivery slots will now be available in November, December, January, February and March. ...
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Only a quarter of U.K. companies are ready for Brexit
Only 24 percent of U.K. business leaders believe that their businesses are fully ready for the end of the Brexit transition period, which concludes on Dec. 31, according to a survey by the Institute of Directors (IoD). According to the survey, 19 percent of respondents said that they are ...
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ArticleFootwear fails to keep pace with upswing in online sales in Germany
Despite enjoying a recovery, online sales of footwear lagged other product categories in Germany during the second quarter. As the country eased lockdowns imposed in a bid to counter the coronavirus pandemic, online sales reported a higher-than-average increase in the second quarter, swinging back to growth after a slump ...
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ArticleWortmann to hold another home-made digital event for its brands
The Wortmann Group is embracing the opportunities offered by internet to hold its own digital trade shows. But, it has also decided to increase its digital presence by taking part for the first time in an online trade show for the textile industry.
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ArticleMicam Americas September edition cancelled
The British trade fair organizer Informa Markets has cancelled the fashion trade show Magic, which includes the footwear show Micam Americas, scheduled to run from Sept. 30 to Oct. 2 at the Las Vegas Convention Center due to health, safety and travel concerns related to the Covid-19 pandemic. Along with ...
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ArticleItalian shoe exports down by 9.2% in value in Q1
Italian shoe exports fell by 9.2 percent year-on-year in value to €2.43 billion in the first quarter of 2020, and by 14.7 percent in volume to 52.7 million pairs as the industry was affected by the Covid-19 pandemic, according to data released by the footwear association Assocalzaturifici. In March alone, ...
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ArticleBeaumanoir to buy a large chunk of La Halle’s assets
Beaumanoir, a French fashion group that owns the brands Morgan, Cache Cache, Bréal, Bonobo and Vib’s, says that it has been chosen by a Paris-based court to take over a large part of the assets of La Halle, a French apparel and shoe retailer. The company is due to take ...
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ArticleMandatory tagging of footwear is finally introduced in Russia
After several delays and despite the continuing protests of some market participants, the Russian government has introduced a mandatory tagging of footwear on the domestic market from July 1. Now, all shoes not featuring Data Matrix tags will be illegal. The government estimates that this measure will wipe out counterfeit ...
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ArticleCCC online sales nearly match physical store sales in Q2
In the second quarter, CCC, the international Polish-based shoe manufacturer and retailer, saw its online sales nearly match those posted by its physical stores due to the impact of the Covid-19 pandemic and the subsequent lockdowns. Nevertheless, the surge of the e-commerce business did not fully offset the slump in ...
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ArticleHow are retailers managing excess stock in Covid-19 times?
Managing stock has always been a tricky part of any business. But it becomes even more so when demand evaporates overnight as occurred with the outbreak of the Covid-19 pandemic and the subsequent lockdowns worldwide, prompting manufacturers and retailers to be nimble and explore various different solutions.
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Nike, Zara, Adidas are the most valuable fashion brands
Nike takes the top spot among fashion brands in the top 100 of the BrandZ ranking of the world’s most valuable brands, released by WPP and Kantar. It is followed by two European brands, Zara and Adidas. Nike managed to improve its valuation by 5 percent to $49,962 million, while ...
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ArticleH&M unit Sellpy launches in Germany
Sellpy, the Swedish online second-hand retailing service owned at about 70 percent by H&M, is being launched in Germany, marking its first move outside its domestic market. In a joint statement, the companies indicated that sustainable consumption and a circular textile economy are an integral part of the group’s sustainability ...
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ArticleJimmy Choo impairment weighs on Capri’s Q4 results
The U.S. fashion group Capri Holdings, that owns Jimmy Choo, Michael Kors and Versace, posted a net loss of $551 million in the fourth fiscal quarter ended on March 28 compared to a net income of $19 million in the prior year. The bottom line was hit by $635 million ...
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ArticleCovid-19 spurs rent renegotiations, partnerships
Retailers from Europe to the U.S. have sought rent relief as they reel from Covid-19 shutdowns and reopen stores faced with higher costs to meet health and safety requirements and uncertain sales prospects. Although some landlords have taken a hard line, many are trying to help keep retail tenants afloat ...
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ArticleNice Footwear issues €3 million in bonds to finance its development
Nice Footwear is launching a €3 million bond with an annual interest rate of 4.375 percent and a six-year maturity. The bonds, which have a face value of €100,000 each, will be traded on the Milan stock exchange. Under the terms of the transaction, the Italian company has the right ...
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CTC boosts the support scheme for its members
The Centre Technique du Cuir (CTC), the French-based research and training group that redistributes funds collected among its members to support the national leather industry, has announced a three-fold plan of exceptional measures for this year, in order to assist its members in the post-coronavirus period. A new subsidy will ...
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ArticleMicam launches an all-year round “augmented” digital fair
Micam has joined forces with the Los Angeles-based wholesale e-commerce platform NuOrder to launch Micam Milano Digital Show, which it describes as an “augmented trade fair” to be held all-year round. In May, Micam had announced that it was negotiating a commercial agreement with a leading player in digital services ...
