Latest Headlines – Page 45
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ArticleMicam hosts 1,204 brands including 504 foreign ones
Micam, which is scheduled to run from Sept. 17 to 20 at the Fieramilano Rho exhibition center at the outskirts of Milan, will host 1,024 brands, 520 of which are Italian and 504 foreign, representing over 30 countries. Spain will have the largest foreign delegation, comprising over 100 companies. Abicalçados, ...
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ArticleMain footwear producing countries suffer sharp falls in exports
The world’s four main footwear manufacturing countries have registered “very significant” falls in exports during the first half of 2023, according to data collected by Apiccaps, the Portuguese footwear association. Some key consumption markets are clogged up with inventories, stemming from overbuying to overcome disruption to the supply chain caused ...
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ArticleDesigner Brands sees tailwinds from Nike sales, ‘softer’ comps as economic pressures continue
Designer Brands maintained its sales and earnings guidance for the full year, highlighting the “softer” comparable figures it is facing in the third and fourth quarters and an expected lift from the sale of Nike shoes, as it resumes sales after renewing its partnership with the U.S. sportswear company earlier ...
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ArticleTod’s’ operating profits beat expectations
In the first half of 2023, Tod’s posted earnings before interest and tax (Ebit) of €60.3 million, significantly higher than the €17.7 million posted a year earlier and the €36 million forecast by financial analysts. The Ebit margin widened to 10.6 percent from 3.8 percent the previous year. The Italian ...
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ArticleJungheinrich takes over the robotics firm Magazino
Jungheinrich, a Hamburg-based provider of logistics equipment and solutions, has taken full control of Magazino, a Munich-based robotics specialist. Magazino, which has 130 employees, was founded in January 2014 and created Toru, a robot that was developed to provide a flexible and economical automation solution in existing warehouses. It can ...
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ArticleMicam continues to showcase 12 emerging footwear designers
Scheduled to run from Sept. 17 to 20 at the Fieramilano Rho exhibition center at the outskirts of Milan, the 96th edition of the Micam footwear fair will, as always, showcase twelve up-and-coming footwear designers. Selected by a panel of some of the leading names in the Italian fashion and ...
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ArticleCaleres maintains guidance as profits increase in Q2 despite ‘choppy’ market
Caleres maintained its earnings and revenue guidance for the full year, after posting better-than-expected profits in the second quarter despite a slightly worse-than-anticipated sales performance and a market that continues to be “choppy”. In the second quarter ended July 29, sales at the U.S. footwear group slipped by 5.8 percent ...
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ArticleSergio Rossi boosts H1 sales
In the first half of 2023, Sergio Rossi, the Italian shoemaker owned by the Chinese luxury goods firm Lanvin Group, posted sales of €33 million, up by 22.4 percent from a year earlier. The brand’s sales rose by 29.7 percent in EMEA, 31.5 percent in North America and 20.9 percent ...
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ArticleNext hikes stake in Reiss to 72%
The British fashion retailer Next and the Reiss family have agreed to acquire a 34 percent interest in the fashion group Reiss for £128 million (€149.3m) from the private equity Warburg Pincus. Upon completion of the transaction, which is expected to take place in mid-October, Next’s holding in the Reiss ...
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ArticleWolverine sells Hush Puppies IP in China, Hong Kong, Macau, divests U.S. leather business
Wolverine World Wide announced additional steps in the ongoing streamlining of its brand portfolio, including the sale of Hush Puppies intellectual property in China, Hong Kong and Macau, and the sale of its U.S. Wolverine Leathers business. The portfolio transformation is expected to help the company become more efficient, direct ...
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ArticleFrasers increases its stakes in Boohoo and Asos
Mike Ashley’s Frasers Group has again increased its stake in Boohoo, just days after doing the same at Asos, another British fast fashion e-tailer. In two days, Frasers, the owner of Flannels and Sports Direct, among others, lifted its stake in Boohoo to 10.42 percent from 7.8 percent, meaning it ...
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ArticleSchuh shines for Genesco in Q2, but company retains ‘cautious’ FY view
Bolstered by warm weather and higher average selling prices (ASPs), the Schuh Group segment of Genesco reported a record quarterly operating income of $8.4 million against $2.1 million a year earlier. With approximately 40 percent of its business generated by the digital channel, Schuh reported 21 percent sales growth to ...
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ArticleShoe Carnival cuts guidance again but makes inroads among higher-income customers
Shoe Carnival cut its full-year sales and earnings per share guidance for the second time as less affluent urban clients continue to face adverse economic conditions. However, the U.S. footwear retailer noted that its business environment is improving thanks to moderating inflation and by attracting more higher-income customers. “Simply ...
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ArticleBaozun to buy 51% stake in Hunter’s IP in Greater China, Southeast Asia
Shanghai-based Baozun has entered into a partnership with Authentic Brands Group (ABG) that will give it a 51 percent stake in intellectual property of the Hunter brand in Greater China and Southeast Asia. On June 2, 2023, ABG announced that it had acquired the intellectual property of the British brand ...
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ArticleWhy footwear brands are reluctant to be fully transparent about the supply chain despite client demand
Consumer demand for traceability in the footwear supply chain is here to stay but many brands around the world are still failing to pay enough attention to the trend, according to Bruno Venditti, chief operating officer of the Italian digital product passport start-up Blockvision. In an interview with Shoe Intelligence, ...
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ArticleHow after a stellar 2022, Spanish shoemakers are facing a challenging environment
Last year, the Spanish footwear industry returned to levels similar to the pre-pandemic period. Exports exceeded €3 billion for the first time, with almost 160 million pairs of shoes sold abroad. But, export growth has slowed down early 2023 and the Spanish industry continues to struggle with structural shortcomings while ...
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ArticleRussian footwear retailer Kotofey speeds up expansion program
Kotofey, one of the leaders in Russia’s children and teenager footwear market, has unveiled plans to add 50 doors to its retail network in 2024, on top of 40 planned openings this year. The need to replace foreign brands, which exited the Russian market after the country invaded Ukraine on ...
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ArticleIndian footwear sector revenues seen up 11% driven by higher prices
Revenues for the Indian footwear sector are expected to increase by about 11 percent in the fiscal year ending March 31, 2024, largely due to higher selling prices, according to a research by CRISIL Ratings. Sales volumes are forecast rising by some 4 percent during the period. Exports, which constitute ...
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ArticleGerman economy expected to continue contracting after a quarter of stability
After stabilizing in the second quarter of 2023, German GDP is expected to contract again in the coming months. In the second quarter, GDP was flat compared with the previous three months on a price, seasonally and calendar adjusted basis, according to the statistics office Destatis. Year-on-year, German GDP ...
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ArticleCanada probes Walmart, Hugo Boss, Diesel for alleged use of Uyghur forced labor
The Canadian Ombudsperson for Responsible Enterprise (CORE) will launch investigations regarding the alleged use of Uyghur forced labor in China by the Canadian units of Walmart, Hugo Boss and Diesel. CORE has published initial assessment reports regarding complaints about Walmart Canada, Hugo Boss Canada and Diesel Canada for allegedly benefitting ...
