Latest Headlines – Page 13
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ArticleStella significantly hikes distribution to shareholders over the next 3 years
Stella International recorded a 53 percent increase in adjusted net profit to $92.9 million in the first half of 2024 from $60.3 million a year earlier, improving its adjusted net profit margin to 12.1 percent from 8.4 percent. It also announced plans to significantly increase distribution to shareholders over the ...
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ArticleTwelve emerging brands in the spotlight at Micam
Scheduled to run from Sept. 15 to 17 at the Fieramilano Rho exhibition center at the outskirts of Milan, the 98th edition of the Micam footwear fair showcases again twelve up-and-coming footwear brands as part of its Emerging Designers selection located at the Micam X space in Hall 1. Often ...
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ArticleAra appoints a new CEO
Ara has appointed a new CEO in a leadership change that marks the completion of its restructuring process. On Sept.1, Stefan Rassau will start in his new role, taking on full responsibility for the German footwear group. Rassau will also take over the operational management of strategy, marketing and ...
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ArticleEmerging designer: Socque rocks the classics
The Covid-19 pandemic that broke out towards the end of the first quarter of 2020 in Europe, and the subsequent related lockdowns, prompted many to make major life changes. Laure Chareton’s and Camille Cour’s response consisted of launching a high-end women’s footwear brand. After a decade of helping others run ...
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ArticleBama ceases business operations, trademark acquired by Ganka
The German supplier of shoe care products and insoles, Bama, has ceased operations. Despite intensive efforts, no investor was found to keep the insolvent company running, said the insolvency administrator, Alexander Jüchser from the Lieser Rechtsanwälte law firm. Bama’s trademark rights were sold to the Canadian outdoor specialist ...
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ArticleYulex launches a new high performance natural rubber
The US company Yulex launched Yulex2.0, a new high performance natural rubber material proposed as an alternative to neoprene. The product has applications across a range of products including footwear as well as wetsuits, sportswear, sports equipment, sports medicine and accessories. Jeff Martin, the founder of Julex said “we saw ...
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ArticleRail freight halted in Canada due to labor dispute
The Canadian railway companies Canadian National Railway (CN) and Canadian Pacific Kansas City (CPKC) announced the lockout of their Canadian workers after failed labor talks, resulting in a shutdown of their networks in the country. The companies locked out employees who are members of the Teamsters Canada Rail Conference (TCRC) ...
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ArticleC-Suite interview: Fly Flot expands beyond slippers
In an attempt to attract a younger clientele, Fly Flot is expanding its collection beyond slippers and clogs to include sneakers and moccasins for both women and men. Shoes now account for 10 percent of production and the target is to double the share. Based near the Northern Italian town ...
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ArticleTJX buys a 35% stake in Dubai-based Brands for Less
TJX, a US off-price apparel and home fashions retailer, has signed a definitive agreement to buy a 35 percent stake in Brands for Less (BFL) for $360 million dollars. BFL is a privately-held company based in Dubai and is the region’s only major off-price branded apparel, toys and home fashions ...
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ArticleRegent buys Bally from JAB
Regent affiliate acquires Swiss luxury brand Bally International from JAB, with key leadership set to remain in place.
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ArticleTapestry’s takeover of Capri given 30% chance of succeeding
The stock market gives an about 30 percent chance that Tapestry’s planned takeover of Capri Holdings will succeed after it was challenged by the US government over concerns that the aggregation could harm competition, according to the brokerage Raymond James. On April 22, 2024, the US Federal Trade Commission decided ...
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ArticleGlobal footwear production fell 6% in 2023
In 2023, global footwear production decreased by 6 percent to 22.4 billion pairs, the lowest point in a decade barring the pandemic years of 2020 and 2021, according to the World Footwear Yearbook 2024 released by the Portuguese footwear association Apiccaps. Production declined by 1.5 billion pairs, following a drop ...
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ArticleLolë acquires Sanuk from Deckers
Lolë Brands, a Canadian athleisure, active and outerwear brand, announced the acquisition of the outdoor lifestyle footwear brand Sanuk from Deckers Brands. In October 2023, Deckers had indicated its intention to sell the brand. In the financial year ended March 31, Sanuk’s revenues plummeted by 33 percent to $25.4 million. ...
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ArticleGerman online sales swing back to growth in Q2, footwear up 3.4%
Online sales in Germany turned back to growth in the second quarter of 2024 after two sluggish years, with footwear sales exceeding the €1 billion as the market starts to normalize, according to a survey released by the federal association of e-commerce and mail order trade, BEVH. In the second ...
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ArticleSecond hand reselling enjoys booming popularity in Russia
The Russian fashion market has witnessed a staggering 30 percent surge in the sale of secondhand goods in 2023, a trend that is rapidly gaining momentum, as estimated by the Moscow-based think tank, Fashion Consulting Group. Last year, the segment was valued at 200 billion rubles (€2bn), which was equivalent ...
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ArticleYue Yuen experiences order book ‘normalization’
The globe’s largest footwear manufacturer Yue Yuen realized a whopping 121 percent growth in profit attributable to company owners at $184.4 million for the six months ended June 30 versus $83.6 million a year earlier. Ebit rose by 85 percent to $265.2 million against $143.2 million in the year-ago period. ...
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ArticleGabor’s management overhaul continues
Another long-serving manager is leaving the German footwear manufacturer Gabor Shoes. On Sept. 30, Rainer Bachl, who joined the company in 1982 and led Gabor’s comfort shoes division for many years, will depart the Rosenheim-based shoemaker. The company announced Bachl’s exit without disclosing specific reasons. No successor has yet ...
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ArticleVirola starts exporting non-leather footwear
Virola International, an Indian company that is one of the country’s major exporters of high-quality leather shoes, has started supplying non-leather footwear to a European client. “Buying non-leather footwear from India is a big mental change for clients,” explains Ishaan Sachdeva, who runs the family-business with his father Sushil Sachdeva. ...
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ArticleWolverine posts better-than-expected Q2 results
Wolverine Worldwide, Inc (WWW) posted better-than-expected sales and earnings in the second quarter of 2024 as the US company benefits from the results of its turnaround plan launched a year ago. Total revenues fell by 27.8 percent, or by 27.7 percent at constant exchange rates, to $425.2 million and ongoing ...
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ArticleGrendene’s foreign sales pick up in Q2
Grendene’s gross revenues rose by 3.1 percent year-over-year to 604.4 million reais (€100.5m) in the second quarter of 2024, underpinned by its key Melissa brand and a surge in exports. The group’s domestic sales were up by 1.5 percent to R$506.7million (€84.3m), as higher prices offset a decline in volumes, ...
