Latest Headlines – Page 24
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ArticleAgra’s footwear cluster produces 45 tonnes of waste daily
The Indian city of Agra generates 45 tonnes of footwear waste every day, according to the New Delhi-based Centre for Science and Environment (CSE) which has put forward a string of recommendations to improve waste management especially among informal shoe manufacturers. Agra is home to the Taj Mahal, and as ...
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ArticleShoe Carnival converts some stores to the Shoe Station banner
Shoe Carnival’s management said it is switching some of its Shoe Carnival stores to the Shoe Station banner, which caters to a higher price target and was one of the drivers of its better-than-expected financial results in the second quarter of its 2024 fiscal year. As part of a testing ...
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ArticleCoats fully derisks its pension scheme, expects higher cash generation
Coats has de-risked its benefit pension scheme by insuring future liabilities. The move is expected to boost the group’s cash generation which can be allotted to hike investments or shareholder remuneration. The British industrial thread and global footwear component manufacturer said that the trustee of the Coats UK Pension Scheme ...
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ArticleSoggy British summer hits second-half sales at Primark
Like‐for‐like sales at Primark were expected to fall by around 0.5 percent year-over-year in the six months to Sept. 14 due to wet weather in the UK and Ireland, driven by a 0.9 percent decline in the final three months compared with 0.2 percent growth in the third quarter. Overall ...
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ArticleAsos sells Topshop and partially refinances its debt
Asos is selling 75 percent of the Topshop group for £135 million (€160m) as part of a deal with the Danish fashion billionaire Anders Holch Povlsen, who owns 28 percent of the troubled British online fashion retailer. Asos, which has faced severe headwinds amid the cost-of-living crisis in the UK ...
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ArticleShoepassion takes over the luxury shoe platform Mybudapester.com
The Berlin-based footwear company Shoepassion acquired the online luxury shoe retailer Mybudapester.com following the insolvency of Mybudapester.com GmbH. “The acquisition of Mybudapester.com significantly strengthens our portfolio. The platform offers our customers expanded access to exclusive shoe brands, furthering our premium private brand strategy,” said Shoepassion’s Chief Executive Officer, Björn Henning. ...
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ArticleC-Suite interview: Being listed on the stock market improved our governance - Nice Footwear
The Italian footwear company Nice Footwear was listed on the Milan stock exchange for just over a year from Nov. 18, 2021 to March 3, 2023, when it was delisted following a public tender offer (PTO) launched by the Italian private equity firm Palladio Holding to buy out the minority ...
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ArticleKurt Geiger enjoys strong sales growth in the US
Kurt Geiger, a British footwear and accessories brand, increased revenues by 9.4 percent to £360.6 million (€428.4m) in the fiscal year ended in February 2024, driven by demand for its “affordable luxury” handbags, now its biggest-selling products. The brand’s leather handbags have an average retail price of £250 (€297). Founded ...
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ArticleKizik signs distribution agreements for Taiwan, Italy, Southeast Asia
Kizik has entered distribution agreements in Taiwan, Italy and Southeast Asia as the US brand specializing in slip-on shoes continues to expand abroad. The agreements were signed with Wellforce Sports in Taiwan, Artcrafts International in Italy, and Nyne Ventures to cover Singapore, Malaysia, Philippines, Thailand, Indonesia and Vietnam. In April ...
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ArticleBirkenstock posts record sales but disappoints the stock market
In the third quarter ended on June 30, Birkenstock reported record revenues of €564.8 million, up by 19 percent year-over-year at current and constant currency rates, thanks to “strong consumer demand supported by new production capacity and category expansion.” Nevertheless, the company’s results disappointed investors, sending the stock down sharply. ...
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ArticleHuntsman launches new high-traction TPU for the footwear industry
Huntsman Corporation officially launched a new material, Avalon Gecko Thermoplastic Polyurethane (TPU), specifically engineered for the high-performance footwear industry, at the NW Materials Show in Portland, Oregon, on Aug. 28. This innovative TPU material is designed to provide exceptional grip, comfort and durability, making it ideal for the demanding requirements ...
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ArticleCanadian rail freight resumes after government intervention
Canadian National Railway (CN) and Canadian Pacific Kansas City (CPKC) resumed railway services on Aug.26 after a shutdown started on Aug. 22 due to the lockout their Canadian workers in the wake of failed labor talks. Nevertheless, it could take several weeks for Canada’s railway network to fully recover from ...
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ArticleGermany’s economic situation worsens
The economic situation has worsened in Germany due to weak consumer confidence and geopolitical uncertainty, but the economy could gradually pick up in the coming quarters. Germany is Europe’s main economy and the third largest in the world. Germany’s consumer climate is expected to come in at -22.0 points in ...
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ArticleStella significantly hikes distribution to shareholders over the next 3 years
Stella International recorded a 53 percent increase in adjusted net profit to $92.9 million in the first half of 2024 from $60.3 million a year earlier, improving its adjusted net profit margin to 12.1 percent from 8.4 percent. It also announced plans to significantly increase distribution to shareholders over the ...
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ArticleTwelve emerging brands in the spotlight at Micam
Scheduled to run from Sept. 15 to 17 at the Fieramilano Rho exhibition center at the outskirts of Milan, the 98th edition of the Micam footwear fair showcases again twelve up-and-coming footwear brands as part of its Emerging Designers selection located at the Micam X space in Hall 1. Often ...
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ArticleAra appoints a new CEO
Ara has appointed a new CEO in a leadership change that marks the completion of its restructuring process. On Sept.1, Stefan Rassau will start in his new role, taking on full responsibility for the German footwear group. Rassau will also take over the operational management of strategy, marketing and ...
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ArticleEmerging designer: Socque rocks the classics
The Covid-19 pandemic that broke out towards the end of the first quarter of 2020 in Europe, and the subsequent related lockdowns, prompted many to make major life changes. Laure Chareton’s and Camille Cour’s response consisted of launching a high-end women’s footwear brand. After a decade of helping others run ...
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ArticleBama ceases business operations, trademark acquired by Ganka
The German supplier of shoe care products and insoles, Bama, has ceased operations. Despite intensive efforts, no investor was found to keep the insolvent company running, said the insolvency administrator, Alexander Jüchser from the Lieser Rechtsanwälte law firm. Bama’s trademark rights were sold to the Canadian outdoor specialist ...
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ArticleYulex launches a new high performance natural rubber
The US company Yulex launched Yulex2.0, a new high performance natural rubber material proposed as an alternative to neoprene. The product has applications across a range of products including footwear as well as wetsuits, sportswear, sports equipment, sports medicine and accessories. Jeff Martin, the founder of Julex said “we saw ...
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ArticleRail freight halted in Canada due to labor dispute
The Canadian railway companies Canadian National Railway (CN) and Canadian Pacific Kansas City (CPKC) announced the lockout of their Canadian workers after failed labor talks, resulting in a shutdown of their networks in the country. The companies locked out employees who are members of the Teamsters Canada Rail Conference (TCRC) ...
