Latest Headlines – Page 160
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Spartoo buys GBB
GBB, the French company that produces children's shoes under its eponymous brand name and those of Achile, Catimini and IKKS, is being taken over by Spartoo, one of the two major French online shoe retailers, which is operating in 25 European countries. Spartoo, which gets 14 million unique visitors every ...
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Candice Cooper restructures
Candice Cooper, the company known for all-leather luxury sneakers, has a new owner. As of June 1, the company has been registered as Candice Cooper AG, a limited corporation that holds all rights to the brand and patents. The restructure was made to attract new capital for expansion, particularly into ...
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The global luxury market should grow by 2 to 4% this year
After a difficult 2016, the luxury industry has shown positive signs in the first quarter, with a growth of 4 percent, and the global luxury market is expected to grow by 2 to 4 percent this year. These are among the key findings from Bain & Company's “Bain Luxury Study ...
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Ferragamo is cautious about 2017
Salvatore Ferragamo told investors that it has a “cautious outlook” about its performance in 2017, which it sees as a “transition year” during which the Italian company will enhance its product development, rationalize its retail business and normalize inventory levels. The company confirmed the mid-term targets it had released in ...
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Leiser opens insolvency proceedings
The Leiser Group, with its 40 Leiser and Schuhhof stores, filed for insolvency proceedings under its own management at the local court of Augsburg in March, as previously reported. The proceedings were formally approved and opened on May 26. Three trustees from the Schneider Geiwitz law firm - Arndt Geiwitz, ...
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Former Porsche CEO puts more money into Shoepassion
Wendelin Wiedeking, the former chief executive of Porsche, has reportedly invested “several million euros” in Shoepassion. The investment will enable the young startup, based in Berlin, Germany, to strengthen its position and to grow internationally as a premium omni-channel retailer.Wiedeking became financially involved with Shoepassion when it merged with a ...
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Dielmann launches an online store for its private brand
Dielmann, the German shoe retailer based in Darmstadt, has launched an online store for its Sommerkind brand of shoes for women and girls. Next to a collection of Sommerkind branded shoes, the online offer includes bags, hats and shirts. Some shoe models are only available online. Dielmann plans to add ...
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Kinnevik sells final stake in Rocket Internet
Kinnevik has sold its remaining stake in Rocket Internet, a German e-commerce company, for €244 million. The Swedish investment company was one of the first investors in Rocket after the founders, the Samwer brothers, Marc, Oliver and Alexander.Founded in 2007, Rocket Internet is one of Europe's most valuable tech groups. ...
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Caprice invests in state-of-the-art facilities
Caprice, the German shoe brand, has invested a seven-figure sum in modernizing the company's headquarters at Pirmasens, near the border with France, as well as production locations in Myanmar and Pakistan. The comfort shoe brand, which focuses on blending fashion and wellness using advanced design technology, is seeking to strengthen ...
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SLEM will go on without van Enten
On June 7, the local newspaper in Waalwijk, Netherlands officially announced the departure of Nicoline van Enter, founder and head of SLEM (Schoenen Leder Educatie Museum), and its commercial director Thijs Torreman. Countering a report in the newspaper that they had been dismissed by municipal authorities, van Enter said that ...
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Genesco’s earnings top guidance
The share price of Genesco, the U.S.-based owner of Journeys, Schuh, Lids and other retail banners, tumbled by 22.8 percent after the company revised down its guidance for 2017 following weaker-than-expected results for its first quarter ended April 29, 2017. Net income dropped by 90.6 percent from the year-ago quarter ...
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DSW posts higher sales but profits tumble
DSW's shares dropped by 7.0 percent after it posted mixed results for its first fiscal quarter ended April 30, 2017. The American shoe retail chain's net income tumbled by 23.0 percent over the year-ago quarter to $23 million, with the company attributing this to planned clearance activity, restructuring costs, currency ...
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Caleres improves sales thanks to Allen Edmonds
Caleres' revenues for its first quarter ended April 29, 2017 grew by 8.0 percent to $631.5 million, partly due to the acquisition last December of Allen Edmonds, which contributed $42.5 million to total sales. However, the parent company of Famous Footwear and various footwear brands, previously called Brown Shoe Co., ...
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Shoe Carnival reports lower sales and profits
Shoe Carnival faced a difficult start to its fiscal year, with profits and sales dipping in the quarter ended April 29, 2017. This was no surprise, since the company warned on May 2 that delays in the mailing out of tax refund checks was largely responsible for a 3.9 percent ...
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Boot Barn’s results miss guidance
Boot Barn posted weaker-than-expected profits for its fourth fiscal quarter ended April 1, 2017, mainly due to soft retail sales and unexpectedly high operating expenses. Net income jumped by 160.0 percent over the year-ago quarter to $2.6 million. However, excluding extraordinary items, the adjusted net income improved by 32.0 percent ...
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Payless will close more stores
Payless ShoeSource is looking to double the number of store closures that it had originally considered. The company filed for bankruptcy in early April and is asking the federal bankruptcy court in St. Louis, Missouri to be allowed to take steps to further rationalize its store network in the U.S. ...
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LVMH will sell shoes and other luxury goods selectively online
The new transactional website of LVMH, which is due to go live internationally on June 6, will offer selected luxury items, including footwear, by 150 different brands, including about 16 brands that belong to the group. Available in French and English, it will start with a range of 2,000 products, ...
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Zalando tests GPS-assisted deliveries
Zalando continues to be at the forefront of innovation in e-commerce with a test in Belgium of a new geolocation-assisted delivery service. By using a smartphone-enabled GPS tracking process, it will allow the shipment of its parcels directly to customers wherever they are, rather than only to their homes or ...
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Yoox Net-a-Porter posts double-digit sales growth
Yoox-Net-A-Porter (YNAP) posted sales of €515 million in the first quarter to March 31, which represent a 15.4 percent increase at current exchange rates, or a 16 percent increase at constant exchange rates, from last year's first quarter. On a comparable basis, the rate of increase was 19.1 percent. The ...
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Coach buys Kate Spade
Coach has signed a definitive agreement to take over Kate Spade & Co., for a combination of cash and shares that assigns a value of $2.4 billion to the American fashion house, which targets millennials with its own lines of clothing, leathergoods, footwear and other accessories. The amount represents a ...
