Latest Headlines – Page 7
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ArticleAzzas 2154 sees modest growth in footwear sales in Q3
Azzas 2154, the Brazilian company formed earlier this year from the merger of Arezzo & Co and the apparel company Grupo Soma, reported modest growth in its footwear and accessories business in the third quarter of 2024, as solid growth in its direct-to-consumer (DTC) business was largely offset by lower ...
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ArticleBFShow doubles its attendance in a year
BFShow, the trade show promoted by the Brazilian footwear association Abicalçados in partnership with NürnbergMesse Brasil, attracted more than 10,400 visitors during its third edition, held in São Paulo from Nov. 11 to 13. The attendance was double that of its inaugural edition held in November 2023. The organizers had ...
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ArticlePortugal’s FAIST project to create 300 jobs
The FAIST project launched by the Portuguese footwear industry to develop innovative products by the end of 2025 is expected to create 300 new jobs in the coming months, according to the project coordinator, Florbela Silva, in an interview released by the country’s footwear, components and leather goods manufacturers’ association, ...
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ArticleStanbee enters a distribution partnership in Indonesia
Stanbee, a US footwear components provider, has entered into a distribution partnership in Indonesia with PT Eco Mega Synergy. ”The arrangement ensures that Stanbee components will be distributed throughout Indonesia quickly and seamlessly,” the US company said. Founded in 2010, PT Eco Mega Synergy supplies pigment masterbatch to footwear brands ...
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ArticleBoohoo raises £39.3 m in fresh cash
Boohoo has raised £39.3 million (€47.0m), before fees and expenses, in fresh capital by issuing new shares at 31 pence per share (0.37 euro cents). The funds will be used to repay debt and provide the company with ”additional strategic flexibility.” The UK online fast fashion group collected the funds ...
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ArticleGeox reshapes distribution model in US and China as wholesale continues to drag on sales
Geox said it would close direct operations by the end of the year in both the US and China as it seeks to increase efficiency and better meet its distribution needs in what have so far proved to be marginal markets. The company said it intends to continue serving both ...
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ArticleCaleres names a new head of its New York brands
Nancy Bitetto has joined Caleres as Senior Vice President of New York brands, which include Franco Sarto, Vince, Veronica Beard and private brand offerings. “In this role, Bitetto will focus on accelerating growth and expanding profitability within the Caleres Brand Portfolio,” the company said. She will report directly to Jay ...
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ArticleVida Shoes buys Aquatalia
New York-based Vida Shoes International has acquired Aquatalia, an Italian luxury fashion brand created in 1994, from ADJHA Aquatalia LLC. The transaction was completed on Sept. 26. No financial details were released. “With Aquatalia’s rich history of style and craftsmanship, Vida Shoes International views it as the ideal addition to ...
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ArticleTapestry, Capri scrap plans to merge
Tapestry, the US owner of the fashion brands Coach, Kate Spade and Stuart Weitzman, has reached an agreement to terminate plans to merge with Capri Holdings, which owns the brands Michael Kors, Versace and Jimmy Choo. “Capri and Tapestry mutually agreed that terminating the merger agreement at this time is ...
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ArticleSkechers to move to a new European distribution center in 2028
Skechers will relocate its European Distribution Center (EDC) operations to a larger and single-structure facility in Liège, Belgium, as it expands its business throughout the continent. To ensure seamless, uninterrupted operations, the Skechers EDC will start its gradual move in 2028 to a new 200,000-square-meter site, which will be located ...
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ArticleYue Yuen posts strong manufacturing but weak retail results
Yue Yuen, the world’s largest footwear manufacturer, generated strong manufacturing results in the first nine months of 2024. But the group’s retail arm, Pou Sheng Intl., suffered from soft sales momentum with weak traffic across various Chinese cities “amid a mixed consumption landscape.” Profit attributable to company owners rose ...
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ArticleThe Swiss brand Künzli has a new owner
The Swiss shoe manufacturer Künzli has found a new owner, averting a potential shutdown that could have been triggered by an unresolved succession. The businessman Roberto Martullo will acquire the historic brand in January 2025, becoming the sole owner. He will “initially continue to directly manage the company,” according to ...
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ArticleSteve Madden fast tracks plan to cut Chinese production
Steve Madden said it is accelerating plans to reduce its reliance on manufacturing in China, amid expectations that Donald Trump will follow through on his pledge to slap hefty tariffs on imports from China after being re-elected on Nov. 5 to a second term as president of the United States. ...
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ArticleWolverine lifts its FY guidance
In the third quarter of 2024, Wolverine Worldwide, Inc (WWW) posted an operating income of $35.2 million, up by 29 percent from $27.3 million a year earlier. The gross margin soared by 4.50 percentage points to 45.3 percent from 40.8 on lower supply chain costs and end-of-life inventory sales. Net ...
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ArticleHigher US tariffs could sharply impact Chinese footwear imports
Proposals by President-Elect Donald Trump to increase US trade tariffs could significantly curtail footwear exports to the country, especially those from China, according to a survey carried out by Trade Partnership Worldwide for the US’ National Retail Federation (NRF). The survey analyzed six widely purchased consumer goods including footwear. The ...
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ArticleRussian footwear retailers suffered a drop in traffic
The average consumer traffic in Russian footwear stores dropped by 10 percent during the summer months, Focus Technologies, a Moscow-based think tank, reported. Several factors are likely contributing to this trend, including the end of the rebound effect on the market following the turbulence in 2022 and growing competition, according ...
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ArticleGolden Goose’s sales rise by 12% at constant exchange rates
In the first nine months of 2024, Golden Goose’s net revenues rose by 12 percent at constant exchange rates to €466 million, driven by direct-to-consumer (DTC) sales and the Europe, Middle East and Africa (EMEA) business region. The premium Italian sneaker brand achieved 49 percent of its revenues in EMEA, ...
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ArticleGrendene's Q3 revenues jump 10% despite decline in exports
Grendene’s gross revenues in the third quarter of 2024 grew by 10.0 percent compared to the year earlier to reach 926.5 million reais (€149.6m), fueled by the strength of its domestic market despite a consumption scenario the company said continues to be challenging. The group’s domestic sales rose by 13.2 ...
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ArticleStuart Weitzman’s sales rise driven by North America
Stuart Weitzman, the premium footwear brand of the US fashion group Tapestry, posted sales of $53.7 million in the fiscal first quarter ended Sept. 28, up by 2 percent year-on-year both on a reported basis and at constant currency rates, as growth in North America offset “softness” in Greater China. ...
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ArticleJimmy Choo’s sales rise and operating loss diminishes
In the fiscal second quarter ended Sept. 28, Jimmy Choo, the luxury footwear brand owned by Capri Holdings, posted revenues of $140 million, up by 6.1 percent on a reported basis and by 5.3 percent on a constant currency basis compared to the prior year driven by the wholesale channel. ...
