Latest Headlines – Page 63
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ArticleFrasers Group buys Australia’s Sneakerboy out of administration
The British retail chain Frasers Group has bought the collapsed Australian luxury footwear and streetwear retailer Sneakerboy for an undisclosed sum, according to media reports. Frasers, which owns the Sports Direct chain and a wide portfolio of brands, will keep Sneakerboy’s staff and run the business but not take on ...
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ArticleThe global secondhand market has tripled since 2020
The value of the apparel, footwear, and accessories resale market is estimated at between $100 and $120 billion worldwide, nearly three times the size it was in 2020, according to a new study by Boston Consulting Group (BCG) and global resale platform Vestiaire Collective. The report, titled “What an Accelerating ...
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ArticleSante + Wade plans to expand to physical stores
Sante + Wade, a premium British women’s footwear brand offering large sizes and fits, is planning to distribute its models in physical stores, with a focus on the U.S. and some large European markets. The company created by Shola Asante and Agnès Cushnie started operating in 2019. The brand, which ...
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ArticleMephisto launches its Nature is Future collection worldwide
At the latest edition of Micam, held from Sept. 18 to 20 in Milan for the presentation of spring/summer 2023 collections, Mephisto started distributing worldwide its sustainable women and men’s sneakers brand Nature is Future by Mephisto. The French company launched the brand a year ago with the spring/summer 2022 ...
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ArticleFuture Fashion enters a new financing round
Future Fashion is raising about €1.3 million to finance product development and expand its sales network. The Italian company owns the namesake omnichannel platform offering fashion brands to “virtualize and customize” their collections in 3D using SaaS (Software as a Service) technology and Design Italian Shoes (DIS), which sells customized ...
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ArticleSpartoo H1 GMV falls 1.6% as demand slows
Spartoo saw its gross merchandise volume (GMV) in the first half ended June 30 decrease by 1.6 percent compared to the year earlier to €104.3 million, as consumer demand slowed in the face of accelerating inflation and uncertainty tied to the war in Ukraine. GMV from B2C services was the ...
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ArticleStocks of Brazilian footwear manufacturers outperform in Q3
In the third quarter of 2022, the stock prices of footwear companies and associated sectors monitored by Shoe Intelligence were on average virtually unchanged, falling by less than 3 percent when compared with the previous three months. But, the figure conceals noticeable disparities between the panel’s subsegments. The cohort of ...
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ArticleGruppo Florence buys two shoemakers
Gruppo Florence, an Italian conglomerate of suppliers for the fashion industry, has bought three companies, including two shoemakers, bringing the number of companies acquired in less than two years to 17. It is the group’s first foray into footwear manufacturing. Florence now generates more than €350 million in annual revenues ...
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ArticleZalando increases its fleet of Magazino robots
Zalando has purchased 29 additional order picking robots from the German start-up Magazino, increasing its fleet to 57 units. The German online fashion retailer, which has invested in Magazino, initially bought two of the robots called Toru in 2018, before increasing the fleet by six units in 2019 and a ...
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VF Corp. maps out growth strategy, trims FY23 outlook
VF Corp., which counts a dozen brands in its portfolio, is targeting a five-year compounded annual revenue growth rate in the mid-to high single digits, earnings per share expansion of high single to low double digits and an operating margin of approximately 15 percent by FY27. The U.S. parent of ...
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ArticleBirkenstock to invest €110m in Pasewalk plant
Birkenstock now expects to invest about €110 million in its new German production site in Pasewalk, scheduled to come on stream in autumn 2023. The investment is a record for the company and significantly above the initial estimate for the project. The German footwear group described the investment in the ...
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ArticleConsumer and business sentiment sinks in Europe
Consumer confidence continues to decline significantly in Europe due to rising inflation, an erosion in purchasing power and concern about the future due to a worsening of the macroeconomic environment and rising geopolitical tension following Russia’s invasion of Ukraine on Feb. 24. In October, German consumer sentiment is expected to ...
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ArticleBoohoo issues profit warning as H1 sales slump, product returns increase
Boohoo has issued a profit and sales warning after a 10 percent fall in first-half revenues driven by the cost-of-living crisis. The fast-fashion online retailer, whose brands include Pretty Little Thing and Nasty Gal, said revenues fell to £882million (€986.7m) in the six months to Aug. 31 and forecast annual ...
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ArticleHow reshoring to Spain is being hampered by labor and capacity shortage
Demand to reshore footwear manufacturing from Asia to Southern Europe, and especially to Spain, is growing, but the Iberian country is lacking the capacity needed to significantly boost production, while exports of Spanish made shoes are back to pre-pandemic levels. “We are at full capacity and there is no more ...
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ArticlePittards sees ‘strong’ order book after H1 sales rise 7%
Pittards, the British leather and leather goods company, posted revenues in the first half ended June 30 of £10.4 million (€11.7m), up by 7 percent on the year earlier, as its sales order book remained “strong” across market sectors. The gross margin in the six-month period widened to 30 percent ...
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ArticleItalian shoemakers start using the VCS self-assessment ESG program
VCS (Verified & Certified Steps), a software package allowing the self-assessment of environmental, social and governance (ESG) performances launched by Assocalzaturifici, the Italian footwear association, is currently being tested by three Italian shoemakers. “We chose three companies of different sizes and with different business models” for the pilot tests, explained ...
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ArticleGerman shoemakers concerned about the future despite H1 rebound
Despite a strong rebound in domestic and foreign sales in the first half of 2022, German shoemakers are concerned about the business environment due to growing inflation and the erosion of the purchasing power of consumers. Among German footwear manufacturers with more than 50 employees, sales rose by 11.6 percent ...
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ArticleSan Marina placed into receivership
The French footwear retailer San Marina was placed under controlled administration, or receivership, on Sept. 22 at its request by a Marseille-based commercial court. San Marina employs 673 people in 163 stores in France. The so-called observation period of the receivership is set to last until March 23, 2023, ...
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ArticleTod’s’ minority shareholder buyout to start on Sept. 26
DeVa Finance, which is controlled by DI.VI. Finanziaria di Diego Della Valle & C, announced that its offer to buy out Tod’s’ minority shareholders will run from Sept. 26 to Oct. 25. The company is offering €40 per share and is seeking to buy a 25.55 percent stake in the ...
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ArticleSecondhand online marketplaces on the rise
Cross-border marketplaces are developing fast, and the C2C trend is one of the drivers.
