Latest Headlines – Page 129
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Turkey will be less penalized
Experts predict that the Turkish leather industry could reach exports of between $1.7 billion and $1.8 billion this year, compared with a range of between $1.5 billion and $1.6 billion in the last four years, based on the figures available for the first four months of 2019. They amounted to ...
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Weak exports from Bangladesh’s leather industry
Bangladesh's leather industry recorded an 8.7 percent decline in its export revenues to $837 million for the ten months ended on April 30. This was well short of the turnover needed to meet the government's target of $1.1 billion for the fiscal year ending July 31.According to the Bangladesh Tanners' ...
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India is promising for local and foreign shoe companies
As India is enjoying strong economic growth, its footwear market is becoming more and more attractive to local firms traditionally focused on exports as well as to foreign investors.According to the World Footwear Yearbook, India overtook the U.S. as the world's second largest consumer of shoes in terms of quantity ...
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Ram launches domestic brands
Ram Fashion Exports, a large Indian shoe company that is manufacturing about 8,000 pairs a day, believes that domestic sales could represent half of its sales in about two to three years' time, compared with 15 percent currently.Ram has 30-40 foreign clients, largely in North America, Europe and Asia-Pacific, with ...
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Calico turns to its domestic market
An Indian manufacturer of leather and shoes, Calico, exports 95 percent of its production, mainly to Europe. It started selling locally in September 2018 but currently only offers safety footwear for the Indian market under the Torp brand. Safety shoes represent 30 percent of the firm's total revenues, including leather.“There's ...
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Also a growing market for foreign brands
Among the U.S. brands, Crocs entered the Indian market in 2008 and is now sold in over 1,500 single-brand and multi-brand points of sale in 150 cities. The company has just appointed a new general manager for India, Sri Lanka and Nepal, Sumit Dhingra, who previously worked for Arvind Fashions. ...
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A promising but difficult market
The prospects are very good, considering also the fact that India is likely to overtake China as the most populous nation in the world by 2024 with 1.45 billion people, according to the United Nations, in spite of declining fertility rates.Despite its rosy prospects, the Indian market still has its ...
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Bata India, Relaxo, Liberty post strong results
Three big Indian shoe retailers – Bata India, Relaxo and Liberty Shoes in order of size – posted strong results in the full year ended on March 31 but registered a slowdown in the final quarter.India's largest footwear retailer, Bata India, reported a 7 percent increase in its sales to ...
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Pressure on profits for Yue Yuen
Profit margins continued to be under pressure for the world's largest shoe manufacturer, which is also a major distributor and retailer in China. Yue Yuen Industrial's total revenues increased by 8.4 percent in the first three months of this year to (U.S.) $2.48 billion, but the attributable net profit declined ...
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Keen launches an ecological plastic boat tour
True to its motto “Better Takes Action,” Keen Footwear is launching a new, original broad-based environmental campaign in key European countries, heralding a new round of activities this year through a so-called “Better Takes Action Boat Tour.”An Amsterdam-based project partner of Keen, which goes by the name “Plastic Whale,” has ...
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New priorities for Clarks after a tough year
C&J Clark (Clarks) said in its annual report that it wants to shift its development focus to Asia in the next five years, with the aim of building up a business of similar scale to Europe and the Americas by 2023/24. The company will also boost marketing and drive its ...
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Lower sales and profits
Clarks' annual report shows that the past financial year, ended on Feb. 2, was particularly tough for a number of reasons including the negative currency effects of Brexit and declining customer traffic in the U.K. and the U.S., where pure digital retail players are taking market share away from traditional ...
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Deichmann closes its Roland stores
Deichmann has decided to stop trading under the Roland banner, closing its 45 stores in Germany by the end of 2020, after major investments in the format, to focus on MyShoes. The big shoe retailing group said it took the decision due to structural changes in the shoe retail market, ...
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Kienast emerges as strategic investor for Schuhpark Fascies
The family-owned Kienast Group has won a bidding race for a strategic investment in the insolvent Schuhpark Fascies chain of shoe shops in Germany. The creditors of Schuhpark Fascies have already approved the investment from Kienast and the broader insolvency plan. Both firms expect that the district court of Münster ...
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Shoe Zone benefits from falling rental costs
Shoe Zone saw revenues slip to £73.00 million pounds (€83.27m-$92.94m) in the first half ended on March 30 from £73.67 million a year earlier, but the British low-cost shoe retailer's pre-tax profit rose marginally to £1.02 million (€1.16m-$1.30m) from £0.96 million thanks to lower rental costs.The gross product margin increased to 62.0 ...
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Cinven is reportedly in informal talks to sell Kurt Geiger
Cinven, the British private equity investment company that bought Kurt Geiger in 2015 for £245 million (€278.7m-$311.3m), has held informal talks with new investors based in the U.S. to sell the British shoe retail chain, according to The Telegraph. The British daily newspaper named potential buyers like Steve Madden, Capri ...
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Van Dal takes over Padders
The Florida Group, owner of the Van Dal brand of shoes, has completed the acquisition of T. Groocock & Co., owner of Padders. The terms of the contract were not disclosed. T. Groocock, which takes its name from the man who founded the company in 1914, will be renamed Padders ...
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The Flexx buys Rapisardi
The Flexx, which has made a name for itself as a producer of comfortable and fashionable shoes that use the stitch-and-turn process, has made two important investments. It has taken over 90 percent of the shares in NR Rapisardi, a small supplier of women's shoes in Florence. Also it has ...
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Hamm takes Camel Active license from Gabor
Gabor Footwear has lost its 18-year-old license to develop and market shoes under the Camel Active brand, whose sales have been declining lately. This has led to the departure of key managers, including Ralph Hanus, the former chief executive of Sabu. The big German shoe producer will sell the last ...
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Sioux’ Portuguese plant shuts down
The Portuguese factory of Sioux, the German group best known for its comfortable moccasins, closed its doors a few weeks ago, filing for insolvency at the beginning of May. About 150 people at the factory, located in the area of Lousada, are affected by the decision, and some of them ...
