Latest Headlines – Page 135
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Good growth for LVMH and Hermès
Apparently, the luxury segment of the market for fashion and accessories is not slowing down for the major brands, despite the increasing tensions at the geo-political and monetary levels and the growing competition from the sports sector. Two major French luxury groups, LVMH and Hermès, have published pretty good results.LVMH, ...
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Hermès grows nicely, too
Hermès International reported sales increases of 7.5 percent in euros and 10.4 percent in constant currencies for 2018. The French maison reached a turnover of €5,966 million for the year, slightly above analysts' estimates. The final results are scheduled to come out on March 20, but the management has already ...
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Jimmy Choo’s parent tops analysts’ estimates
Capri Holdings – formerly known as Michael Kors – recorded better-than-expected profits for its third fiscal quarter ended on Dec. 29, 2018, and it raised its full-year revenue guidance. The company's share price went up by 11 percent.The group's revenues remained flat as compared to the year-ago quarter at $1,440 million, ...
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Stuart Weitzman goes back to growth
After two consecutive quarters of declining sales, Stuart Weitzman returned to growth in the second fiscal quarter of its parent company, Tapestry, which ended on Dec. 29, 2018. The footwear brand's sales grew by 3 percent to $124 million, up by 4 percent in constant currencies.Currently, shoes represent 98 percent ...
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GBG takes the Bikkembergs license from Zeis
Zeis Excelsa, the once-flourishing and now troubled Italian shoemaker from the Marche region, has lost the Dirk Bikkembergs footwear license to the big Hong Kong-based Global Brands Group (GBG). The license agreement starts with the 2019-2020 autumn/winter collection. GBG has already worked with other fashion brands including Calvin Klein, Juicy ...
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Piccadilly launched new initiatives in Brazil and abroad
As indicated in our last issue, the economic stability that Brazil seems to have achieved with the election of a new pro-business president is encouraging small and large producers in the country to take new initiatives.Piccadilly, the big Brazilian maker of synthetic shoes, is still focusing on its huge domestic ...
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Problems ahead for Russian shoe retailers and importers
Shoes are among the products whose prices will be growing most rapidly in Russia in 2019, said the Russian Central Bank in a statement on its website a few weeks ago. The industry must be braced for perfect storm with the impact from an increase in the VAT rate, the ...
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Online sales are growing fast in Russia
The overall market for shoes and clothing remained flat in Russia last year, with a slight reduction in the offline retail segment and a strong increase in online sales, according to research conducted by the local Fashion Consulting Group.In total, sales of these products amounted to an estimated level of ...
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Russian retailer plans to expand into the West
A Russian retailer specializing in casual shoes and clothes, Finn Flare, has declared its intention to open its first brick-and-mortar store somewhere in the European Union by 2020. Finn Flare has already been selling its products in Europe through various online platforms, including Otto, Amazon and Zalando for an overall turnover ...
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Moldova’s biggest shoe producer is expanding
Floare plans to double its production capacity, taking advantage of relatively bright export opportunities, the company said in a statement last month. The largest shoe manufacturer in Moldova recently applied for soft loans from the national State Reserve Fund to help finance an investment of €800,000 in 27 new machines ...
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Mixed figures from the Indian subcontinent
A string of export data from the Indian subcontinent have painted a mixed picture of the recent performance of local leather industries. But overall, regional players are increasingly ambitious and the Indian powerhouse is openly gearing up to lure manufacturing away from China.Bangladesh missed its exports target for footwear, leather ...
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Las Vegas puts many shows under one roof
All the big American fashion-related trade shows put on by Magic in Las Vegas – including FN Platform and Project, which host footwear exhibitors – will be taking place exclusively at the Las Vegas Convention Center (LVCC) as of next August.As a result of all this, each show will now ...
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Brexit or no Brexit, the industry wonders
The European shoe industry has been thrown into a period of increased confusion and uncertainty about future strategies by the overwhelming defeat by the British Parliament last week on the agreement that Prime Minister Theresa May had painfully negotiated with the European Commission on the terms of the U.K.'s divorce ...
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Mixed market conditions in Europe
Across all the sectors, British retailers suffered the worst month of December in a decade in terms of sales, but they are not the only ones to be concerned. Aside from the disruption of traditional business models caused by the expansion of online sales, there are alarming signs that the ...
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Shoe Zone and Boohoo immune to the U.K’s tough retail situation
Despite the difficult retail environment in the U.K., hampered by uncertainty surrounding Brexit, both of these retailers reported relatively positive results, in contrast with retailers like Footasylum (see the article in this issue) and Asos (see the article in our previous issue), which had to resort to heavy discounting because ...
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Bohoo performs better than Asos
Bohoo reported strong growth across all brands and regions in the four months through December, leading the British online fashion retailer to raise its full-year revenue guidance.Revenues jumped by 44 percent from the year-ago period to £328.2 million (€370.7m-$421.3m). The gross margin improved by 1.7 percentage points to 54.2 percent.Sales at the ...
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Footasylum issues a profit warning, due to high discounting
Footasylum says it faced greater than expected promotional and clearance activity in the 18 weeks to Dec. 29 due to difficult trading conditions, prompting the British sports lifestyle retailer to issue a profit warning. This is in line with warnings made by other U.K. retailers like Asos and Sports Direct indicating ...
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Clarks may stop manufacturing shoes in the U.K.
Clarks announced a few days ago that it plans to put an end to “Morelight,” a pilot program for robot-assisted shoe manufacturing close to its global head office at Street, in Somerset. The company said it has started a period of consultation with its 70-odd workers to verify the viability ...
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Birkenstock expects to grow by up to 20%
Birkenstock continues to grow strongly, although not as rapidly as before. According to a report in the Frankfurter Allegemeiner newspaper, which has been confirmed by the company, its global sales are expected to grow by up to 20 percent in the financial year ending next September, reaching a level of ...
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Driven by Vans, VF will not buy Skechers
Skechers' stock market capitalization went up by 6.3 percent last Thursday, following a Tweet message according to which VF Corporation, the parent of Timberland, Vans and other brands, was in advanced negotiations to buy the company at a high premium, giving it an enterprise value of about $6.5 billion.On the ...
