Latest Headlines – Page 130
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Xtep will buy the parent of K-Swiss and Palladium
Xtep International Holdings, the Chinese sportswear group that announced in March a joint venture with Wolverine Worldwide for the sale of Merrell hiking gear and Saucony running shoes in mainland China, has agreed to buy a 100 percent stake in E-Land Footwear USA, the owner of K-Swiss, Palladium, Supra, PLDM ...
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Zalando expands its customer reach
Zalando reported that the number of active customers increased by 14.1 percent year-on-year during the first quarter of 2019 to 27.2 million, with site visits rising by 29.5 percent to 924 million. The larger customer base placed more frequent orders than before. The number of orders per active customer grew ...
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Better-than-expected results for Alibaba
Despite the Sino-U.S. trade war and a slowing domestic economy, the Chinese e-commerce giant recorded strong revenues for its fourth fiscal quarter ended on March 31, 2019, which topped analysts' estimates.Alibaba's sales rose by 51 percent from the year-ago quarter to 93,500 million yuan renminbi (€12.1bn-$13.6bn), led by the core ...
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Farfetch continues to bleed red ink
It will certainly take more time for Farfetch to make a profit, as it has been the case for older e-tailers like Amazon and Zalando. While the online luxury marketplace grew more strongly than expected in the first quarter ended on March 31, with its revenues rising by 38.6 percent ...
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New strategic investor for Netshoes
The big Brazilian e-tailer specializing in sports shoes and apparel has been losing money since it went public on the New York Stock Exchange two years ago at a price of $18 per share, consistently failing to meet its guidance. Netshoes' founder and chief executive, Marco Kumruian, and other major ...
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Geox’ overall sales slip, and may remain weak at wholesale
Geox posted first-quarter sales of €260.9 million, down by a reported 1.3 percent and by 1.6 percent at constant exchange rates, but they beat market expectations by over €2 million. It described the quarterly results as “good” but warned that reaching analysts' forecasts of Ebitda of €54 million on annual ...
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Wolverine sets up an Italian subsidiary
Wolverine Worldwide is doubling up on its efforts to revitalize Saucony. After its agreement with Xtep International for the distribution of Saucony as well as Merrell in China, the group has taken over the distribution of Saucony in Italy from its Italian distributor, Sportlab.It has set up a new Italian ...
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BasicNet’s consolidated revenues jump by nearly 39%
BasicNet, the parent company of Kappa, Robe di Kappa, K-Way, Superga, Sebago and other brands, posted aggregate sales of €241.6 million in the first quarter of 2019, representing an increase of 16.1 percent from last year's first quarter, with a growth of 15.9 percent in local currencies.Consolidated revenues jumped by ...
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Spain’s Munich grows strongly
Munich, the Spanish brand of athletic and sports lifestyle shoes – now in its 80th year – closed out 2018 with revenues of €40.5 million, up by 16 percent from the previous year. Revenues were particularly strong in the second half of the year. In addition, a 23 percent increase ...
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Duuo goes vegan
Placing its bet on sustainable fashion and the circular economy, the shoe brand Duuo – based like Munich in Barcelona – has released Fenix, a model that is entirely free of leather. In fact, according to the company, it is free of animal products altogether and is produced in factories ...
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Crocs’ first-quarter revenues exceed expectations
Crocs' revenues reached $295.9 million in the first quarter ended on March 31, growing by 4.5 percent from the first quarter of 2018, or by 9 percent on a constant-currency basis, despite the negative impact of store closures and changes in the business model, which reduced revenues by around $6 ...
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Italy’s shoe exports rise only in value
The average price of Italian shoes continued to increase in 2018 by around 8 percent, and this allowed the Italian industry to record a 3.6 percent increase in its exports of shoes and components to €9.85 billion, despite a drop of 3.5 percent in volume, based on regional statistics compiled ...
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Tod’s continues to post disappointing sales
Tod's disappointed investors again, with its first-quarter top line missing market expectations by about €3 million, and the group failing to fulfill its pledge of relaunching sales, a task that was due to be achieved in the second half of 2018.In the first quarter, group sales dropped by 4.3 percent ...
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Ferragamo posts encouraging Q1 results
After its previous weakness, Salvatore Ferragamo posted more convincing first-quarter results as its sales rose by 4.3 percent, both a current and constant exchange rates, to €317.1 million, beating market expectations by over €2 million.The gross margin rose to 63.3 percent in the first quarter from 62.3 percent a year ...
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Prada will further downsize its wholesale business
Prada has decided to further reduce its wholesale business to control its pricing policy better as it seeks to erase markdowns in its directly operated stores. The group said that the move is “essential to ensure greater consistency in pricing policies” in physical stores and online. This will enable it ...
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Global luxury market to be driven by millennials and the Chinese
The global luxury market was worth €920 billion in 2018, and is expected to grow at an average annual rate of 4.6 percent until 2025. Millennials are expected to bring 130 percent of 2018-25 market growth, growing from 32 percent to 50 percent of the personal luxury market in that ...
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A new generation of Chinese luxury consumers
The global luxury market will be massively impacted by a new generation of Chinese consumers in the coming years. According to McKinsey's “China Luxury Report 2019,” based on UnionPay transaction data, the Asian country will have generated 65 percent of the world market's growth from 2018 to 2025, and will ...
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Russia is not ready for shoe tags
Russian footwear manufacturers and retailers are asking the federal government to postpone the introduction of compulsory tagging of all shoes on the domestic market with RFID chips. The new regulations, which are slated to come into force on July 1, were partly meant to crack down on sales of fake ...
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New sanctions on Ukraine will not impact Russian shoe imports
The Russian government has introduced a set of new economic sanctions against Ukraine, one of which bans all shoe imports from the country. Speaking about the new trade restrictions, the Russian Economy Development Minister, Maxim Oreshkin, said that the government picked goods for which import replacement seemed to be possible.In ...
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Trade in fakes rises to 3.3% of world trade
The trade in counterfeit and pirated products has grown steadily in the last few years. With a value estimated at $509 billion, it came to represent an estimated 3.3 percent of world trade in 2016, up from 2.5 percent in 2013, according to a new report by the OECD and ...
