Latest Headlines – Page 25
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ArticleC-Suite interview: Fly Flot expands beyond slippers
In an attempt to attract a younger clientele, Fly Flot is expanding its collection beyond slippers and clogs to include sneakers and moccasins for both women and men. Shoes now account for 10 percent of production and the target is to double the share. Based near the Northern Italian town ...
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ArticleTJX buys a 35% stake in Dubai-based Brands for Less
TJX, a US off-price apparel and home fashions retailer, has signed a definitive agreement to buy a 35 percent stake in Brands for Less (BFL) for $360 million dollars. BFL is a privately-held company based in Dubai and is the region’s only major off-price branded apparel, toys and home fashions ...
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ArticleRegent buys Bally from JAB
Regent affiliate acquires Swiss luxury brand Bally International from JAB, with key leadership set to remain in place.
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ArticleTapestry’s takeover of Capri given 30% chance of succeeding
The stock market gives an about 30 percent chance that Tapestry’s planned takeover of Capri Holdings will succeed after it was challenged by the US government over concerns that the aggregation could harm competition, according to the brokerage Raymond James. On April 22, 2024, the US Federal Trade Commission decided ...
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ArticleGlobal footwear production fell 6% in 2023
In 2023, global footwear production decreased by 6 percent to 22.4 billion pairs, the lowest point in a decade barring the pandemic years of 2020 and 2021, according to the World Footwear Yearbook 2024 released by the Portuguese footwear association Apiccaps. Production declined by 1.5 billion pairs, following a drop ...
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ArticleLolë acquires Sanuk from Deckers
Lolë Brands, a Canadian athleisure, active and outerwear brand, announced the acquisition of the outdoor lifestyle footwear brand Sanuk from Deckers Brands. In October 2023, Deckers had indicated its intention to sell the brand. In the financial year ended March 31, Sanuk’s revenues plummeted by 33 percent to $25.4 million. ...
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ArticleGerman online sales swing back to growth in Q2, footwear up 3.4%
Online sales in Germany turned back to growth in the second quarter of 2024 after two sluggish years, with footwear sales exceeding the €1 billion as the market starts to normalize, according to a survey released by the federal association of e-commerce and mail order trade, BEVH. In the second ...
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ArticleSecond hand reselling enjoys booming popularity in Russia
The Russian fashion market has witnessed a staggering 30 percent surge in the sale of secondhand goods in 2023, a trend that is rapidly gaining momentum, as estimated by the Moscow-based think tank, Fashion Consulting Group. Last year, the segment was valued at 200 billion rubles (€2bn), which was equivalent ...
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ArticleYue Yuen experiences order book ‘normalization’
The globe’s largest footwear manufacturer Yue Yuen realized a whopping 121 percent growth in profit attributable to company owners at $184.4 million for the six months ended June 30 versus $83.6 million a year earlier. Ebit rose by 85 percent to $265.2 million against $143.2 million in the year-ago period. ...
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ArticleGabor’s management overhaul continues
Another long-serving manager is leaving the German footwear manufacturer Gabor Shoes. On Sept. 30, Rainer Bachl, who joined the company in 1982 and led Gabor’s comfort shoes division for many years, will depart the Rosenheim-based shoemaker. The company announced Bachl’s exit without disclosing specific reasons. No successor has yet ...
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ArticleVirola starts exporting non-leather footwear
Virola International, an Indian company that is one of the country’s major exporters of high-quality leather shoes, has started supplying non-leather footwear to a European client. “Buying non-leather footwear from India is a big mental change for clients,” explains Ishaan Sachdeva, who runs the family-business with his father Sushil Sachdeva. ...
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ArticleWolverine posts better-than-expected Q2 results
Wolverine Worldwide, Inc (WWW) posted better-than-expected sales and earnings in the second quarter of 2024 as the US company benefits from the results of its turnaround plan launched a year ago. Total revenues fell by 27.8 percent, or by 27.7 percent at constant exchange rates, to $425.2 million and ongoing ...
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ArticleGrendene’s foreign sales pick up in Q2
Grendene’s gross revenues rose by 3.1 percent year-over-year to 604.4 million reais (€100.5m) in the second quarter of 2024, underpinned by its key Melissa brand and a surge in exports. The group’s domestic sales were up by 1.5 percent to R$506.7million (€84.3m), as higher prices offset a decline in volumes, ...
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ArticleVF optimistic that EMEA will spearhead Vans’ turnaround
Having shed its Supreme business for $1.5 billion and moving forward with a transformation plan under CEO Bracken Darrell and a cast of new brand leaders, VF Corp. is expressing optimism that its flagging Vans segment is finally on the road to full recovery. And the EMEA appears to be ...
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ArticleJimmy Choo’s Q1 sales drop on soft demand
In the fiscal first quarter ending June 29, Jimmy Choo, the luxury footwear brand owned by Capri Holdings, posted revenues of $173 million, down by 5.5 percent on a reported basis and by 3.8 percent on a constant currency basis compared to the prior year. This decline was driven primarily ...
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ArticleAlpargatas turns Q2 profit but sales in Europe sag
After more than a year of work strengthening many aspects of its business model, Alpargatas is seeing signs that its recovery on the right track. In second quarter of 2024, the Brazilian footwear company that owns the Havaianas brand generated a net profit of $23 million Brazilian reais (€3.75m) against ...
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ArticleBoot Barn raises its full-year guidance on better-than-expected first-quarter results
Thanks to better-than-expected first-quarter results, Boot Barn lifted its sales and earnings guidance for the full-year ending March 29, 2025. In the three months ended June 29, the US company increased net sales by 10.3 percent to $423.4 million thanks to higher comparable sales and the opening of 11 stores, ...
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ArticleWeyco ‘cautiously optimistic’ about the autumn selling season
Weyco’s sales in the second quarter of 2024 dropped by 5 percent year-on-year to $63.9 million, driven lower by the North American wholesale business and the Florsheim Australia subsidiary. However, the group indicated that “retailer inventory levels are starting to normalize” in the US after an inventory pile-up last year ...
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ArticleBirkenstock opens its first own store in Paris
The German shoe manufacturer Birkenstock has set foot in France with the launch of its first own-brand store in the country. The new shop at 17 rue des Archives, in the heart of trendy Marais district of Paris, opened its doors on July 20. The brand had until now been ...
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ArticleEsprit’s Dutch subsidiary files for bankruptcy
The Netherlands-based division of the fashion chain Esprit has filed for insolvency with the Amsterdam court as a wave of bankruptcies continues to rock the retailer. Approximately 30 stores in the Netherlands, including Esprit stores and other retailers, still sell Esprit products. A bankruptcy administrator will explore possible solutions, ...
