Latest Headlines – Page 112
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FFANY to move under FDRA umbrella
The Fashion Footwear Association of New York (FFANY) is set to come under the umbrella of the Footwear Distributors and Retailers of America (FDRA) effective Oct. 1 after the end of FFANY’s current fiscal year. John Heron, the executive director of FFANY, says the long-discussed merger was given a push ...
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Belarus footwear market heavily hit by coronavirus
Footwear companies in Belarus are experiencing a decline in domestic and foreign sales due to the Covid-19 pandemic, said Belarus’s deputy prime minister, Yuri Nazarov, during a press conference on June 23. Even market leaders such as Belwest and Marko, which have their own production facilities, are suffering, because the ...
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André’s former head makes partial takeover offer
A Grenoble-based commercial court is expected to decide on July 24 on the future of the footwear chain André, which is currently in receivership. It filed for bankruptcy on March 23 after its owner Spartoo was unable to obtain sufficient financing to continue the business. André was losing money even ...
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ArticleOne thing is growing faster than online fashion sales: digital CMR
The Covid-19 pandemic has truly changed the rules of the fashion retail game, accelerating some trends that were already developing and leading to completely new scenarios that are testing the strengths of even the strongest brands. Digitilization is a major force in this scenario, but it is not growing fastest ...
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Italian components group Margot looks to grow
Margot, an Italian group that makes metallic components for luxury leather goods, shoes and eyewear that is controlled by the private equity Mandarin Capital Partners, is looking to expand with an acquisition in the third or fourth quarter of this year, says Andrea Tuccio, a partner with Mandarin. The aim ...
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ArticleJB Martin closes its doors
JB Martin, a well-known French shoe company, has ceased all activities. The shoe brand was liquidated by the Paris Commercial Court on June 2. After several years of difficulties, Covid-19 was the last straw. Two weeks after the announcement of the receivership, the 125 employees of JB Martin received their ...
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ArticleShoe Zone has reopened 416 stores out of 470
The British footwear retailer Shoe Zone has reopened most of its store network, which is exiting the lockdown streamlined, as the company decided to permanently close 20 locations. Meanwhile, online sales were up by 32 percent in the fiscal first half.
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ArticleShoe Carnival’s online sales soar
After a difficult first quarter, Shoe Carnival is experiencing a strong rebound in sales, so much so that it has issued a business update. For this second fiscal quarter, which began on May 6, so far comparable store sales have surged by 28.1 percent from the same period last year, ...
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Sioux’s wholesale division files for insolvency as coronavirus lockdowns hit sales
Plummeting department store sales amid business-wrecking coronavirus lockdowns and market uncertainty have driven Sioux Group’s wholesale division off the rails.
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Farfetch launches tool to measure environmental impact of purchases
Farfetch has created a tool to measure the environmental impact of goods bought on its e-commerce platform. The software is part of its efforts to help customers make environmentally-sensible choices, thus promoting the purchase of second-hand items. The British company, that specializes in luxury fashion, claims that the tool will ...
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Designer Brands misses expectations in Q1
The Covid-19 pandemic has taken its toll on Designer Brands, the American shoe retailing group previously called DSW. It recorded significantly lower sales and heavy losses for its first quarter ended on May 2 – both worse than analysts’ expectations - hampered by strong markdowns and store closures from March ...
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ArticleCCILU open to partnerships on new green material
CCILU, the Taiwanese brand of lifestyle footwear, has launched Greenplax, a new ecological raw material for outsoles, insoles and upper fabric upcycled from plastic bottles. The announcement is accompanied by a $20,000 crowdfunding and marketing campaign on Kickstarter for a shoe model called Renee, said to incorporate the equivalent of ...
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Hotter plans to downsize with creditors’ support
Electra Private Equity, which owns the British footwear manufacturer and retailer Hotter Shoes, plans to downsize the company through a company voluntary arrangement (CVA) process. A CVA enables an insolvent company to seek an agreement with its creditors. But, the arrangement has to be approved by creditors holding at least ...
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Rinascente launches its online store
Italian upmarket retailer Rinascente, one of the major department store chains in the country, made its e-commerce debut with a dedicated website. The online store features 15,000 products from 650 brands in all product categories, spanning fashion, accessories (including Italian and international footwear and eyewear brands), beauty, food and design. ...
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Boohoo buys two brands, Oasis and Warehouse
In the wake of its capital increase, that raised £197.7 million (€220.8m-$248.0m) in gross proceeds on May 15, the U.K. online fashion retailer Boohoo has bought two brands, Oasis and Warehouse, for £5.25 million (€5.9m-$6.6m) from Hilco Capital. The two brands will be integrated onto Boohoo’s platform, benefiting from the ...
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ArticleNew mid-December timing for Expo Riva Schuh
Expo Riva Schuh, the leading international shoe fair for the low and medium segments of the footwear market, is bringing forward the winter edition of its trade show, making it happen along with the Garda Bags fair for leathergoods on Dec. 11-14 instead of the middle of January. It will ...
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ArticleGenesco ends first quarter deep in the red
Genesco, the parent company of shoe retail chains such as Journeys and Johnston & Murphy in the U.S. and Schuh in the U.K., faced a $79.3 million impairment charge in the first fiscal quarter ended on May 2, and ended with a net loss of $134.7 million, against income of ...
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Two large Italian retailers obtain government-guaranteed loans
The Italian retailers OVS and Rinascente have obtained government-guaranteed loans as part of the so-called liquidity decree to support large companies affected by the Covid-19 pandemic. The measure applies to firms with more than 5,000 employees in Italy and annual revenues above €1.5 billion. Economy Minister Roberto Gualtieri agreed to ...
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ArticleLa Halle receives 25 bids for its assets
After having been placed into receivership, La Halle received 25 bids for its assets, which represent a significant part of its activity and would allow it to save more stores than in a previous bidding round.
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ArticleEnglish retailers reopen in a climate of caution
Non-essential stores reopened in England on June 15 amid concern that consumers will be absent, as a majority of people, 54 percent, remain opposed to the reopening. They are particularly reluctant to returning to shopping centers.
