Latest Headlines – Page 136
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New owners, new plans for Mahabis
Mahabis, the London-based producer of slippers with detachable soles and foldable heels, has been acquired by YYX Capital, a private-equity/venture-capital firm that invests in consumer-internet, e-commerce and financial-technology (FinTech) companies. The deal was made with KRE Corporate Recovery, as Mahabis had fallen into administration – a rescue procedure for insolvent ...
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P448 sees 36% rise in 2018 sales to €8.2m
P448, an Italian brand of unconventional and comfortable sneakers whose ownership changed last summer, posted a 36 percent increase in sales in 2018 to €8.2 million from €5.7 million the previous year and is targeting revenues of €50 million by 2022. One of the investors in the brand is Wayne ...
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Café Noir relies more on its online and retail sales
The Italian brand of footwear and accessories posted relatively flat sales of around €30 million in 2018, but its management aims to lift them to an annual level of €45 million in five years' time through the expansion of its mono-brand network, e-commerce and exports.Café Noir is ramping up its ...
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Crocs is still outperforming, wants to do better
With its financial turnaround virtually completed, Crocs is considering new initiatives in terms of product development and retailing, including the further development of e-commerce, to help reach a double-digit operating margin going forward, while keep gross margins slightly above 50 percent of sales and operating expenses below 40 percent.The company ...
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Gabor records stable sales in 2018
Gabor Shoes recorded total sales of €377 million in 2018. The figure includes the company's licenses, Gabor Shop & Store and Gabor Footwear. This is almost as high as the €383 million recorded in 2017, which was itself a decrease of 3.3 percent from 2016. Including licenses, the group sold ...
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Expo Riva Schuh holds steady
The 91st edition of Expo Riva Schuh, held Jan. 12-15, attracted about 13,000 visitors, roughly in line with the numbers registered a year earlier. The tally includes the visitors to the two main fairgrounds of the international trade show: the Gardabags show near Lake Garda, which was in its second ...
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A new chairman with a modern vision will head up India’s CLE
Aqeel Ahmed Panaruma, chairman and managing director of Florence Shoe Company in the state of Tamil Nadu, became on Jan. 17 the new chairman of India's Council for Leather Exports, taking the place of Mukhtarul Amin. Sanjay Leeka will serve as vice chairman.The organization, which is sponsored by the Indian ...
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Brazilian shoemakers are optimistic
The recent election of a new president in Brazil, Jair Bolsonaro, is expected to improve the country's battered economy and to generate more competition by opening up the Brazilian market, says Heitor Klein, executive president of the Brazilian shoe industry association, Abicalçados.He says the cost of making shoes in Brazil ...
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Better-than-expected results for U.S. chains
Boosted by the ongoing strength of their U.S. footwear businesses, several big retailers in the country posted upbeat preliminary results, often surpassing expectations. Genesco posted a comparable sales increase of 4 percent for the quarter ended on Jan. 10, 2019. This came after the company posted a 4 percent same-store ...
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Shoe Carnival
Another big publicly listed American shoe retailer, Shoe Carnival raised its sales and profit guidance for the fiscal year ending Feb. 2, 2019. It now expects sales to be approximately $1,028 million and comparable store sales to rise by approximately 4 percent.The company's previous guidance was calling for sales in ...
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Boot Barn
A smaller American shoe retailer that has posted better-than-expected results is Boot Barn. Both preliminary earnings and sales for its third quarter ended Dec. 29 came in well above projections.Revenues were up by 13 percent to about $254 million, with same-store sales increasing by approximately 9.2 percent, including double-digit growth ...
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Adidas and Nike
We normally don't cover the athletic footwear brands in Shoe Intelligence. However, we feel that we should share with you some of the information that we gave to the subscribers of a sister publication of ours, the European edition of Sporting Goods Intelligence, about the most recent results of Adidas ...
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More signs of fatigue for Adidas in Europe
After a strong rally between 2015 and 2017, the Adidas brand has performed so far this year less well in Europe generally than Nike, Puma or Under Armour. In the third quarter, its sales in Western Europe were off by one percent in euros and by two percent in constant ...
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Nike’s digital disruption paid off in Q2
Crediting the efforts being made to execute its Consumer Direct Offense program, Nike reported better-than-expected results for the second quarter ended on Nov. 30. Revenues grew by 14 percent on a currency-neutral basis across the group, with increases of 14 percent for the Nike brand and 6 percent for Converse.On ...
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Shoes are in the top category of online cross-border shopping
“Clothing/apparel, footwear and accessories” is the No. 1 cross-border category for online shopping. A global study titled PayPal Cross-Border Consumer Research 2018, conducted by Ipsos for Paypal, has revealed that 68 percent of online cross-border shoppers among those surveyed for the study purchased items in that category from e-commerce sites ...
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The EU has launched its Circular Plastics Alliance
The European Commission has launched an alliance of key industry stakeholders across the full plastics value chain as part of its efforts to accelerate Europe's transition toward a circular economy. The Circular Plastics Alliance is meant to stimulate the reduction of plastics littering and increase the share of recycled plastics, ...
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Vivarte is becoming a smaller, more viable retail group
While publishing the results for Vivarte's financial year ended in August, which showed major reductions in losses and indebtedness, its chief executive, Patrick Puy, said that a general manager will take over its operational management from spring 2019, while he will retains his position as president of the French group. ...
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Le Coq’s owner saves a French shoe plant
Compagnie Vosgienne de la Chaussure (CVC), the French shoe factory sold by the Vivarte group to a German investment fund at the end of 2016, has found a new investor, just as it was about to be liquidated. Petrus Finance, a Swiss holding company that indirectly controls Le Coq Sportif, ...
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Farfetch buys Stadium Goods
New and used sneakers, especially vintage and limited-edition models, continue to be cult objects. They are increasingly sought after by luxury goods customers all over the world who shop on websites like Farfetch, the leading internet platform for luxury goods that went public successfully a few weeks ago (Shoe Intelligence Vol. 20 n°19+20 ...
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Farfetch and Yoox introduce new AI tools
With its special algorithms, artificial intelligence is increasingly considered very useful in helping customers choose the right products from among the multitude of items offered on inclusive websites like those of Farfetch and Yoox-Net-A-Porter. Farfech alone, which recently went public, gives customers a choice among about 20,000 different styles of ...
