Latest Headlines – Page 72
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ArticleScarpe & Scarpe debt restructuring scheme approved by creditors
The large majority, 87 percent, of creditors of the Italian footwear retailer Scarpe & Scarpe have approved the company’s debt restructuring scheme. The plan was approved by all preferential, or Class-1, creditors such as the Italian tax authority, the customs office and social security, and by 83 percent of unsecured, ...
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ArticleAstorMueller expands in women’s footwear with Bagatt
AstorMueller Group, which is the exclusive worldwide license holder for Bugatti and Daniel Hechter shoes, is expanding its offer of women’s shoes with the acquistion of Bagatt, a brand that focuses on middle-market leather shoes. Established in northern Italy in the 1980s, Bagatt’s products are mainly marketed through brick-and-mortar stores, ...
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ArticleBrazilian exports at their highest since 2011
In February 2022, Brazilian footwear exports rose by 36.2 percent in volume to 13.58 million pairs and by 75.5 percent in value to $108 million, according to data released by the Brazilian footwear association, Abicalçados. In the first two months of 2022, exports rose by 40 percent in volume to ...
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ArticleNext sees £85m sales hit from Ukraine war, lowers profit guidance
The British fashion retailer Next cut its profit guidance as the closure of websites in both Russia and Ukraine will knock a predicted £85 million (€102m) off its sales forecasts for the current financial year. The company also expects an 8 percent rise in selling prices in the second half, ...
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ArticleLanvin Group to be listed in New York by merging with a SPAC
Lanvin Group, the Chinse luxury goods group formerly known as Fosun Fashion Group, has entered into a merger agreement with Primavera Capital Acquisition Corporation (PCAC), a special purpose acquisition company (SPAC) listed on the New York Stock Exchange. The transaction values Lanvin Group at a pro forma enterprise value of ...
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ArticlePittards enjoys a strong start to the year, expands business with Vivobarefoot
The British leather and leather goods company Pittards has started 2022 with the highest level of orders in three years and it expects shoe production in its factories in Addis Ababa, Ethiopia, to grow faster than in 2021. “We have started the current year with a better order book than ...
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ArticleGörtz expands e-commerce offering with men’s and women’s clothing
The German footwear chain Görtz is expanding its e-commerce offering by adding men’s and women’s apparel to its Goertz.de marketplace. In addition to shoes and accessories, more than 5,000 clothing items from 60 brands are now offered on the website. The range of products includes streetwear and fashion brands, ...
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ArticleWortmann suspends sales to Russia
Russia is the most important export market for the Wortmann Group through its Tamaris and Caprice brands. But following the Russian invasion of Ukraine, the women’s shoe specialist has decided to stop servicing the market. The company based in Detmold, has also offered its employees in Ukraine the opportunity to ...
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ArticleGerman shoemakers write off the Russian market
The Russian invasion of Ukraine has affected the businesses of many German shoe and leather goods manufacturers, which had been built up over the past few years. “The consequences of this massive unrest are not foreseeable at this point in time,” said Manfred Junkert, general manager of HDS/L, the federal ...
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ArticleBrazil renews footwear export program for 2 years
Abicalçados, the Brazilian footwear association, and ApexBrasil, the Brazilian agency for the promotion of exports and investments, signed the renewal of a two-year agreement to promote Brazilian footwear. The program simply called Brazilian Footwear was launched more than two decades ago. Under the agreement, the parties will invest 35.45 ...
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ArticleC-Suite interview: Pittards ‘open for business’ with turnkey footwear manufacturing solution
A leather maker approaching its 200-year milestone, Pittards is now looking to the next century with plans for an expanded role in the production of footwear and other finished projects. To that end, Pittards recently launched a vertically integrated-solution for footwear, offering services starting with the sourcing of leather up ...
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ArticleC-Suite interview: Fly Flot sees 2022 sales rising to €28m
When the founders of Fly Flot established the company in 1985, they had a clear idea that their focus would be on foreign markets. That’s why Luigi Migliorati along with his five brothers and two non-family-members, decided to give the new company an international sounding name. Today, despite the impact ...
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ArticleShoe Carnival plans expansion after strongest results in 43 years
Shoe Carnival’s operating income soared by 164 percent to $27.9 million in the fourth quarter ended on Jan. 29 from $10.6 million a year earlier. Net income was $20.6 million against $7.4 million. Revenues jumped by 23 percent to $313.4 million from $253.9 million as the U.S. retail chain closed ...
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ArticleCaleres delivers strong results
Caleres’ operating income was $43.8 million in the fourth quarter ended Jan. 29 against a loss of $55.4 million a year earlier. Net income came in at $33.9 million against a loss of $77.1 million. Total period revenues increased by 19.0 percent to $679.3 million from $571.0 million as gross ...
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ArticleYue Yuen turns around despite a volatile operating environment
The annual net income of the world’s largest maker of athletic, casual and outdoor footwear hit $115.1 million in 2021 against a loss of $90.8 million in the prior year. Yue Yuen (YY) made an operating profit (Ebit) of $175.4 million for the year against an operating loss of $51.4 ...
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ArticlePrada full-year profits above pre-pandemic levels
Prada posted a net profit of €294 million in 2021, up from a €54 million loss last year and above a €256 million profit in 2019, before the outbreak of the Covid-19 pandemic. The bottom line also largely exceeded the consensus of analysts’ forecasts set at €253 million. Full-year revenues ...
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ArticleInditex’s sales return above pre-pandemic levels
Inditex, the Spanish group that owns the brands Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho and Uterqüe, posted a 35.8 percent year-on-year increase in revenues to €27.72 billion in the full year ended January 31. In local currencies, the top line was 3 percent higher than in 2019, before the ...
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ArticleC-Suite interview: Covid-19 has masked the surge of regional integration in Asia-Pacific
In an exclusive interview with Shoe Intelligence, William Wong, the founder and head of the Hong Kong-based footwear company Goddess International, and the representative of the Confederation of International Footwear Association (CIFA), sheds light on the impact of regional integration in Asia-Pacific, the growing role of the region in design ...
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ArticleLi Ning excluded from Norway’s sovereign fund
The Chinese sportswear company Li Ning has been excluded from Norway’s sovereign fund, Norwegian Government Pension Fund Global, because of possible links to alleged human rights abuses in the Chinese province of Xinjiang, said the Norwegian central bank, Norges Bank, which manages the fund. The fund’s Council on Ethics recommended ...
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ArticleClarks hires the head of Champion as its new CEO
Clarks announced that Jonathan Ram will be its new CEO in April, taking the place of Victor Herrero. Ram will be leaving the U.S. clothing group HanesBrands, where he is president of global activewear, on March 31 to join the British shoemaker. Ram already spent more than four years in ...
