Latest Headlines – Page 190
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New leadership at AAFA
Juanita D. Duggan will be the new chief executive of the American Apparel and Footwear Association (AAFA) from July 1, succeeding Kevin Burke who led it for 12 years. AAFA describes her as an experienced trade association executive and lobbyist who brings also more than 25 years of experience on ...
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Alibaba disputes claims that it tolerates fake goods
Alibaba, the Chinese e-commerce giant, is defending itself against allegations made by the American Apparel and Footwear Association (AAFA) that it tolerates the sale of fake products on its Taobao website. The AAFA, which called Taobao “one of the biggest platforms for counterfeit goods worldwide,” shared this concern with the ...
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Crocs reports progress in sustainability
In its third annual sustainability report, Crocs said progress was achieved in various areas. In 2014, the footwear brand reduced the emission of volatile organic compounds (VOCs) per pair of shoes manufactured by 17.6 percent as compared to a 2013 baseline. This follows a 16 percent reduction in 2013. Crocs ...
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Macintosh will sell its U.K. stores
Macintosh Retail Group has taken the momentous decision to put up for sale its stores in the U.K., comprising 179 Brantanos and 125 Jones Bootmaker stores. Reporting another financial loss for 2014, the Dutch retail group said it will concentrate on the remaining footwear retail chains in the Benelux countries, ...
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Percassi buys Vergelio, a historic shoe retailer
Vergelio Calzature has been acquired by Percassi, an Italian multi-sector group that employs more than 5,000 people. Roberto Vergelio, currently head of the Italian shoe retail chain, will continue to work for the group as a consultant. All of his 110-odd employees are due to be taken on by the ...
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More data from Zalando
Providing further details about its results (see the last issue of Shoe Intelligence), Zalando has reported that its sales increased last year by 17 percent to €1.23 billion in the German-speaking countries and by 37 percent to €900 million in the other European countries where it operates. In Germany alone, ...
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CCC to grow by 40%
CCC, the big Polish-based shoe retailer, reported a jump in net profits to 422.7 million zlotys (€103.2m-$113.4m) in 2014 from PLN 125.2 million in the previous year. Operating results (Ebit) grew by 47.6 percent to PLN 247.3 million (€60.4m-$66.0m) as revenues increased by 22.4 percent to PLN 2.01 billion (€480m.$530m).Dariusz ...
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Ecco aims to sell 50% directly to the consumer
After three years of controlled growth and investments in its production facilities, Ecco says it is changing to a “more expansive” strategy. It wants to do so notably by strengthening its women's collections and by investing heavily in direct-to-consumer distribution, which is set to represent 50 percent of sales by ...
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Geox is recovering
Geox booked a 9.3 percent rise in 2014 sales to €824.2 million, beating market expectations of about €810 million, driven by Italy, France and Spain. At constant currency rates, the group's turnover was up by 10.1 percent.Geox' managers are confident that the recovery seen in many core markets and others ...
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Geox seeks a new Chinese partner
Geox is looking again for a new Chinese partner as the present one, Riqing Enterprise, has run into financial trouble. As Geox is reviewing its options in China, the Asian powerhouse, which represents an estimated 2.5 percent of group revenues, will not make its expected contribution this year, prompting Geox ...
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Same-store sales collapse at Tod's
Same-store sales plummeted by 10.6 percent at constant currency rates in the 10 weeks from Jan. 1 to March 8 across the network of stores directly operated by the Tod's group. The drop was attributed to ongoing weakness in some key markets such as Greater China, the date of the ...
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Salvatore Ferragamo sees 2015 organic sales growth of 5%
Salvatore Ferragamo is projecting organic sales growth of about 5 percent this year as its sales continue to be fueled by the purchases made by Chinese tourists outside their country. The company said that its conservative hedging policy would limit the positive impact of the dollar's appreciation against the euro.Financial ...
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Jimmy Choo reduces its losses
In its first full-year results since floating on the London Stock Exchange in October, Jimmy Choo reported losses of £10.8 million (€14.8m-$16.1m) for the year ended Dec. 31, 2014, down from £17.7 million the year before, in spite of expenses of £7.8 million (€10.7m-$11.6m) related to its IPO. Revenues rose ...
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Female employees attack Birkenstock for past discrimination
It was apparently no secret that women were being discriminated at Birkenstock in terms of payment and treated differently from men, as they were at various other companies throughout Europe. In the case of Birkenstock, which insists on making all its products in Germany, they were earning about one euro ...
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Crocs is looking at another transition year
Crocs booked a net loss of $4,926,000 for last year against net income of $10,420,000 in the previous one. Sales were basically flat at $1,198.2 million. They were down everywhere except in Europe, where they grew by 13 percent to $147.6 million. The results were in line with expectations in ...
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Yue Yuen’s profits dip
Yue Yuen raised its sales by 5.7 percent to US$8.01 million in 2014. Excluding special charges, operating profit was stable at $430.5 million, but the charges resulted in an operating loss of $99.5 million for the world's largest manufacturing company, which is also a major retailer in Greater China through ...
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Chinese workers go on strike again
New reports from China indicate a new turbulence at several shoe factories in Dongguan after the Chinese New Year. According to The Wall Street Journal, hundreds of workers went on strike on March 9 and 10 at a plant operated by Stella International in Dongguan, which employs some 10,000 people, ...
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Vietnam aims for $14 billion in shoe exports
The Vietnam Leather and Footwear Association (Lefaso) has set a target of $14 billion for the country's global footwear exports in 2015. According to the Vietnam Customs, the country's footwear exports reached an estimated $10.22 billion in 2014, Fob (Free on Board) at Vietnam's ports, representing a 21.6 percent increase ...
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Temporary drop for Brazilian shoe exports?
The U.S. dollar has reached its highest level in ten years against the Brazilian real, yet the Brazilian shoe industry exported 23 percent less in the first two months of this year in terms of dollars, or a total of 20.85 million pairs worth $150.4 million. Imports declined by 17 ...
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Grendene sees margins rising
Grendene, the parent company of Ipanema, Melissa, Rider and Grendha, remained the largest Brazilian footwear exporter last year, with a share of more than 44 percent in volume during the fourth quarter. The devaluation of the Brazilian real had a positive impact on the company's results for the past year, ...
