Latest Headlines – Page 22
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ArticleC-Suite interview: Xero Shoes looks to US wholesale, Europe for growth
Xero Shoes is looking to bolster its domestic wholesale business and leverage strong growth rates in Europe to underpin a new phase of expansion for the US barefoot footwear specialist founded 15 years ago. Dan Dougherty, EU managing director and the head of wholesale activities at Xero Shoes globally, tells ...
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ArticleFerragamo issues a profit warning
In the wake of third-quarter results, Salvatore Ferragamo warned that it expects its full-year operating result to be at the lowest end of analysts’ estimates due to persisting uncertainties over demand by luxury consumers. The brokerage Equita noted that the Italian luxury goods group now expects a full-year Ebit of ...
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ArticleGerman retailers voice concerns about increasing red tape
Faced with economic uncertainty, German retailers are calling for urgent reforms to alleviate the mounting bureaucratic hurdles that many say are crippling their businesses. According to a survey conducted by HDE, the German retail association, 89 percent of panelists reported being overwhelmed by excessive regulations, with a whopping 97 ...
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ArticleZalando hikes its full-year guidance
Zalando has increased its 2024 forecast following a solid third-quarter performance. The Berlin-based fashion and lifestyle e-commerce giant, which has seen steady growth in its customer base and online demand, now expects higher full-year results for its gross merchandise volume (GMV), revenues and adjusted Ebit, marking a positive outlook for ...
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ArticleSpanish footwear exports up in the first seven months of 2024
Spain’s footwear exports amounted to €2,056.5 million in the first seven months of 2024, up by 6.4 percent compared to the same period in 2023. Meanwhile the number of pairs shipped to foreign markets amounted to 105.8 million, rising by 8.6 percent year-on-year, according to data released by Fice, the ...
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ArticleGabor appoints a new Head of Wholesale
The German footwear manufacturer Gabor Shoes has appointed Alexander Schlosser to the newly created role of Head of Wholesale for the DACH region, which comprises Germany, Austria, and Switzerland, effective Dec. 1, 2024. The 34-year-old footwear expert, who began his career at the former Gabor Footwear GmbH, will ...
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ArticleC-Suite interview - Trade shows have to speak the same language as exhibitors
On Sept. 9, 2024, Assocalzaturifici, the Italian association of shoemakers, announced the appointment of Giorgio Possagno as General Manager. The position had been vacant since the departure of Tommaso Cancellara on April 5, 2022. Aged 53, Possagno started his career with the tire maker Pirelli, where he worked at the ...
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ArticleSpartoo improves its cash flow despite lower sales
In the first half of 2024, Spartoo suffered a decline in revenues but continued to improve its cash flow thanks to a reduction in working capital as inventories decreased. The gross merchandise value (GMV) totaled €90.9 million, down by 10.5 percent compared to a year earlier. Revenues also dropped by ...
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ArticleGerman leather goods industry suffers steep sales drop
According to the German footwear and leather goods trade association, HDS/L, the German leather goods industry faces a challenging second half of 2024, with sales falling and both imports and exports declining, reflecting broader economic pressures. The leather and leather goods manufacturing sector, excluding footwear and clothing, saw a significant ...
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ArticleHow a crowd funding platform is helping footwear companies raise money
The Italian footwear companies Fessura, DIS and Steve’s as well as dropout, a retailer of luxury apparel and sneakers, have in common that they are currently, or have been, raising funds through the Italian crowdfunding platform Mamacrowd, which is owned by the asset management company Azimut. Other companies working with ...
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ArticleKizik enters distribution agreements in Japan and Canada
Kizik has entered distribution agreements in Japan and Canada as the US brand specializing in slip-on shoes continues to expand abroad. In Japan, it partnered with Marubeni Consumer Brands Inc. “We are grateful to be associated with one of the most important and exciting brands in my long-term experience ...
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ArticleGerman fashion sales seen subdued over the next four years
The German fashion market has been on a path to recovery since 2022, but growth remains hampered by inflation, changing consumer behaviors and the rise of ultra-fast fashion. Annual growth is set to remain below 2 percent over the next four years, according to a report by IFH KÖLN in ...
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ArticleFirst Italian shoemaker obtains VCS sustainability certification
Corrado Maretto is the first Italian company to have obtained an environmental, social and governance (ESG) certification under the VCS (Verified & Certified Steps) program launched by Assocalzaturifici, the Italian footwear association. The company engaged in a self-assessment of its ESG performance using a software package designed by Spin360, a ...
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ArticleThorogood launches a women’s work boot collection
Thorogood, a US brand of work boots owned by Weinbrenner Shoe Company, has launched a women’s work boot collection. Meanwhile, the group has broken ground for a new manufacturing site. “Built on the same safety standards and superior quality that customers have come to expect from Thorogood boots over the ...
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ArticleSteve’s seeks to raise up to €300,000 in crowd funding
Steve’s, an Italian producer of sustainable premium sneakers, is seeking to raise between €100,000 and €300,000 in a crowdfunding campaign through the Mamacrowd platform. Founded in 2022 in Turin by Giulia Gandini and Filippo Gandini, Steve’s produces sneakers made from Appleskin, a material produced from the skins and cores of ...
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ArticleGabor deploys two Magazino robots in its warehouse
In order to automate the shoe picking process, Gabor Shoes has deployed in its warehouse in Mindelheim, Germany, two Toru robots produced by Magazino, a subsidiary of Jungheinrich, a Hamburg-based provider of logistics equipment and solutions. The aim of the collaboration between Gabor and Magazino is “to automate a key ...
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ArticleH&M posts disappointing Q3 results
H&M Hennes & Mauritz posted lower-than-expected third-quarter results and cut its full-year guidance. The Swedish fashion retailer said that in the quarter running from June 1 to Aug. 31 net sales fell to SEK 59.011 billion from SEK 60.897 billion a year earlier but were flat in local currencies. It ...
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ArticleFrench clothing and footwear retailers have underperformed since 2019
Between 2019 and 2023, turnover in volume terms in the French clothing and footwear retail sector increased by 0.7 percent, significantly lagging the retail sector as a whole, which rose by 7.8 percent over the period, according to France’s national statistics office, Insee. Sales volumes were flat for apparel between ...
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ArticleDeichmann interested in acquiring rights for Esprit footwear
Deichmann expressed interest in acquiring the trademark rights of the shoe division of the bankrupt fashion company Esprit. A spokesperson for the German footwear retailer confirmed the ongoing negotiations, adding that the offer only pertains to Esprit’s footwear trademark rights – which it sees as a valuable addition to its ...
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ArticleUS online sales seen up over 8% during the holiday season
During the holiday season, running from Nov. 1 to Dec. 31, online sales in the US are expected to rise by 8.4 percent year-on-year to $240.8 billion, according to an estimate released by Adobe. The previous year, US shoppers spent $221.8 billion online, up by 4.9 percent. Shopping on mobile ...
