Latest Headlines – Page 18
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ArticleGeox plans to raise €60m to finance its business plan
Geox announced a refinancing program that includes €60 million in fresh capital to finance its business plan spanning from 2025 to 2029. The Italian footwear company reached an agreement with a pool of banks – including Banca Monte dei Paschi di Siena, Banca Nazionale del Lavoro, Banco BPM, BPER Banca, ...
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ArticleHow Murcia’s shoemakers are exiting the 2024 jubilee year and preparing for 2025
After celebrating in 2024 the jubilee of Caravaca de la Cruz, the fifth holiest city of Catholic Christianity with Rome, Jerusalem, Santiago de Compostela and Camaleño, Calzia, a consortium of shoemakers located in Spain’s southeastern region of Murcia, is focusing on its next challenges. These include managing a slowdown in ...
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ArticleEmerging designer: Sustainability is Sneark’s signature style
Acutely aware that every year some 15 billion pairs of sneakers are produced and that a mere twelve months later the vast majority end up in landfills or are incinerated along with other household waste, Lello Romano, an architect and designer with a particular penchant for footwear based in Agrigento, ...
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ArticleSurveys paint a bleak picture of Germany’s holiday season sales
The shopping period leading up to the holiday season has brought more disappointment than cheer for both Germany’s online retailers and brick-and-mortar stores. The grim picture was painted by two surveys: the report of the German retail association, HDE, on brick-and-mortar sales in the week leading up to Dec. 15, ...
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ArticleBoohoo’s shareholders reject Mike Ashley’s bid for board seat
Boohoo’s shareholders have thwarted a bid by major shareholder and Frasers Group founder Mike Ashley to take a seat on the board of the struggling British online fashion retailer after they voted against the move in a special meeting. In a statement, Boohoo said that 64 percent of votes cast ...
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ArticleEquita Smart Capital expands its footwear manufacturing hub
The Italian fund Equita Smart Capital-Eltif, has acquired GT Emme, a producer of insoles and stripes for luxury women’s shoes located in Santa Maria a Monte, near the Tuscan town of Pisa. GT Emme posted sales of more than €5 million in 2023 and has a staff of 33 people. ...
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ArticleShoe Zone sees full-year profits halved as sales fall on weak consumer confidence, weather
Shoe Zone has halved earnings forecasts in another profit warning and claimed that recent tax and wage measures in the recent British government’s budget would force it to close an unspecified number of stores. The low-cost UK footwear retailer said it had experienced “very challenging trading conditions” between the start ...
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ArticleBirkenstock posts higher-than-expected Q4 results
Birkenstock reported revenues of €456 million in its fourth quarter ended Sept. 30, up by 22 percent on the year earlier on both a reported and constant currency basis. Financial analysts were expecting a top line of €440 million. The sandal maker posted strong double-digit revenue growth across all segments, ...
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ArticleHong Fu breaks ground on its Tamil Nadu factory
On Dec. 16, MK Stalin, the Chief Minister of the Indian state of Tamil Nadu, laid the foundation stone for a manufacturing unit of the Taiwanese footwear firm Hong Fu Industrial Group at the SIPCOT Park Industrial Estate at Panapakkam in the Ranipet district. The 1,500 crore rupee (€168 million) ...
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ArticleDesigner Brands continues to ‘de-weatherize‘ business as Q3 boot sales slump 27%
Designer Brands said it would continue to take steps to reduce its reliance on seasonal footwear after sales of boots slumped 27 percent in the third quarter ended Nov. 2, nearly double the 15 percent decline it had forecast. Slumping boot sales came amid unseasonably warm weather in September and ...
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ArticleSwiss online retail sales set to hit a new record high
Online retail in Switzerland is set to hit a record high this year, with significant changes in consumer behavior, while Chinese e-commerce players are steadily on the rise. Footwear is following the same trend, according to a survey conducted by the University of St. Gallen among 1,334 people in the ...
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ArticleZalando to take over About You
As part of its plans to create a pan-European e-commerce platform, German online retailer Zalando is acquiring the fashion group About You for €1.1 billion. Volker Bosse, a financial analyst at Baader Helvea Equity Research, noted that from ”a market perspective, it is a bold consolidation step in the ...
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ArticleOnline spending up sharply among young Germans
Young German consumers are spending significantly more online, with influencers shaping their choices more and more, and social shopping likely to remain a key driver of online retail growth, according to a survey conducted by Postbank among 1,000 young people between the ages of 16 and 18. In the ...
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ArticleEcco has a new CEO
Ecco’s CEO, Panos Mytaros, has stepped down and been replaced by the group’s Chief Commercial Officer, Thomas Gøgsig. No explanation was given regarding the change at the helm. However, since Russia’s invasion of Ukraine on Feb. 24, 2022, the Danish footwear group has been criticized by the country’s Prime Minister, ...
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ArticleGenesco more optimistic on outlook as Journeys turnaround gains pace
Genesco raised its sales and earnings guidance for its 2025 fiscal year, as the turnaround of its Journeys division accelerates, offsetting softer demand and a more cautious outlook for its Schuh and Johnston & Murphy businesses. Management now expects group sales for the full year to be flat to down ...
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ArticleCaleres cuts earnings guidance, sees more balanced international growth
Caleres once again cut its sales and earnings guidance for its full fiscal year, after a slump in boot sales made the biggest contribution to disappointing financial results for the third quarter ended Nov. 2. Third-quarter sales fell by 2.8 percent to reach $740.9 million, worse than the company’s guidance ...
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ArticleEmerging designer: CB Made in Italy seeks slow and steady growth
While their store in Via Santo Spirito in Florence may just be a mere 40 square metres (430 square feet), CB Made in Italy is brimming with ideas and plans for the future. The brainchild of Cecilia Bringheli and Sibilla De Vuono, CB Made in Italy offers a limited number ...
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ArticleEU and Mercosur conclude free trade agreement talks
After 25 years of negotiations, the European Union and Mercosur countries have concluded talks on a free trade agreement, according to Ursula von der Leyen, the President of the European Commission. ”We have concluded the negotiations for the EU-Mercosur agreement. It marks the beginning of a new story. I now ...
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ArticleFuture Fashion winds down DIS
The Italian footwear brand DIS will stop operating on Dec. 31, 2024 after its parent company Future Fashion decided to close down the loss-making business. Created in June 2015, DIS, which stands for Design Italian Shoes, offered customized footwear through online sales or dedicated corners in third party stores. DIS ...
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ArticleCirql unveils a new biodegradable midsole technology
At ISPO Munich 2024, held from Dec. 3 to 5, Cirql, the subsidiary of OrthoLite, unveiled its latest material innovation: Cirql Zero, an industrially compostable and biodegradable foam designed for midsole components. Alongside its recyclable Cirql rTPU30 midsole, Cirql is providing footwear brands with comprehensive solutions that address the entire ...
