Latest Headlines – Page 139
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Trade tensions affect Chinese e-tailers
Investors have become more cautious toward China's two biggest e-tailers, the Alibaba Group and JD.com, citing their growing competition and the escalating trade tensions between the U.S. and China.In reporting its results for its second quarter ended on Sept. 30, which showed the lowest growth rate of the past two ...
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Farfetch grows strongly
A concrete sign of this trend was a 53 percent increase to $306 million in the gross merchandise value reached by Farfetch in its third quarter. The high-end e-tailer, which went public a few weeks ago (see our previous issue), said the growth was double the rate of the industry.José ...
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Global Fashion Group reached 11M active customers in Q3
The Global Fashion Group (GFG), the international online fashion and lifestyle retailer headquartered in Luxembourg, reported revenues of €264.6 million in the third quarter of its fiscal year ended on Sept. 30, representing a 16.9 percent increase on a constant-currency basis. Net merchandise value – the value of goods sold ...
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Kurt Geiger sees higher sales and profits
Kurt Geiger gave a strong performance in its latest financial year, ended on Jan. 27. The British high-end retailer's revenues were down by 3.9 percent to £324.58 million (€367.0m-$417.0m), but this was only because the previous financial year covered 13 months, thanks to a change in the financial calendar. Excluding this ...
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Important changes at Alpargatas
After working for the Brazilian group for 21 years and running it for the last 15 years, Márcio Luiz Simões Utsch, whose name is generally shortened to Márcio Utsch, is planning to leave as chief executive of Alpargatas in the early part of the first quarter of 2019. Roberto Funari, ...
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Difficult quarter for Grendene
Grendene had a tough third quarter, weighed down by weak exports. Its shipments out of Brazil tumbled by 17.7 percent in volume to 7.2 million pairs during the quarter, although they rose in terms of value. The management said various problems affected the business as a whole, but pointed in ...
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Obuv Rossii adds more doors in Russia than planned
Russia's major shoe retailer, Obuv Rossii, opened 51 directly-operated stores (DOS) and 20 partner stores under the Lisette and S-TEP banners in the third quarter of 2018. In total, 36 percent of all DOS were launched in Central Russia, another 34 percent in Siberia, 29 percent in the Urals and ...
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Obuv Rossii starts a stock buyback
Russia's major shoe retailer, Obuv Rossii, plans to spend 900 million rubles (€12m-$15m) to buy back some of its shares on the Moscow Stock Exchange, as the price of its shares hit record lows, Obuv Rossii said in a statement on its website.As of July 2018, 44 percent of the ...
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Toms comes out against gun violence
Blake Mycoskie, founder of Toms Shoes, appeared earlier this month on a very popular American TV program, The Tonight Show, and took a stance in a contentious debate. Weeping as he recalled recent shootings on American soil – particularly the one in Thousand Oaks, California, about 30 straight-line miles from ...
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Farfetch gets a high valuation
The 10-year-old internet marketplace for luxury brands and retailers fetched a particularly high valuation of more than $5.8 billion when it went public on the New York Stock Exchange on Sept. 25, although the company is still making losses. Evidently, investors felt that it will be a very profitable company ...
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Marthalouisa.com goes under
It is said that “a soufflé cannot rise twice,” and this certainly seems to apply to the shoe industry. After a short and unsuccessful foray back into the luxury shoe market, Susanne and Christoph Botschen have wound up their Martha Louisa website after only six months.Their initiative was described as ...
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ANWR strengthens its digital operations
In an effort to strengthen the focus of its “Inspiring Retail” strategy for digital retail solution, the ANWR Group is making changes in its personnel structure. Gregor F. Bernhart switched to the management of ANWR Media on Oct. 1 to be responsible, alongside Alexander Hock, for the development of digital ...
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StockX comes to Europe with fresh cash
Started in Detroit just two years ago as a marketplace for rare, second-hand sneakers, StockX has secured funding of $44 million from GV and Battery Ventures, with the stated purpose of expanding its business in international markets.The company, which provides a marketplace for verifiably authentic sneakers, has just launched an ...
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Asos progresses strongly
Asos saw its quotation on the stock exchange rise by 15 percent after the U.K.-based online retailer of clothing and footwear reported higher sales and profits for the financial year ended on Aug. 31, in spite of continued high investments in software and operations that represented about 10 percent of ...
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LVMH performs well, despite China worries
LVMH reported a 14 percent increase on a comparable basis in the sales of its Fashion and Leathergoods division for the third quarter of 2018. This was one percentage point higher than the increase posted in the previous quarter and two points better than what financial analysts had expected.Strong brands ...
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Versace to boost footwear, accessories under Michael Kors ownership
The announced takeover of Gianni Versace by Michael Kors will lead to an increase in the importance of footwear and other accessories for the Italian fashion company, named after his late founder. Michael Kors Holdings (MKHL), which will change names to Capri Holdings with the acquisition of Versace, expects the ...
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CCC unveils new strategies
Partly supported by acquisitions and stronger online sales, CCC Shoes & Bags' total revenues grew by 11 percent to the equivalent of about €590 million in the first nine months of this year.Its management outlined the direction in which the fast-growing company is going during a recent presentation to investors. ...
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Deichmann partners with Azadea for the Middle East and North Africa
Deichmann is entering the Middle East and North Africa through a long-term parntership with the Azadea Group, a leading lifestyle retailer that has been operating in the region for 40 years and is currently managing over 50 international franchise concepts in the fashion & accessories, food & beverages, home textiles, ...
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Online growth and squeezed margins for Footasylum
Footasylum, the British sneaker-focused retailer, saw Ebitda swing into negative territory with a loss of £1.5 million (€1.7m-$2.0m) for the 26 weeks ended on Aug. 25 from a profit of £4.4 million in the year-ago period, in spite a 19 percent sales increase to £98.6 million (€112.1m-$128.4m).The company blamed the ...
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Shoe Zone’s sales and profits to rise
In contrast with many other U.K. retailers who have been issuing profit warnings, Shoe Zone issued a more positive update on Oct. 17, ahead of the final report on its full-year results, saying that both sales and profits rose during the 52 weeks to Sept. 29.Revenues increased by 1.8 percent ...
