Latest Headlines – Page 85
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ArticleGrendene Q2 hit by Covid-19 resurgence
In the second quarter of 2021, the Brazilian shoe maker Grendene was affected by a resurgence of the Covid-19 pandemic in Brazil between March and April, resulting in lockdowns and lower-than-expected orders during the two months as more than 65 percent of the country’s retailers were closed. Under its business ...
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ArticleJimmy Choo sees annual sales at $550m
In the first quarter ended June 26, Jimmy Choo posted revenues of $142 million, up by 178 percent from the prior year when results were badly hit by the outbreak of the Covid-19 pandemic. The top line grew by 147 percent on a constant currency basis. The brand posted an ...
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ArticleGeox closes its Serbian factory
Geox is closing down its Serbian plant in Vranje due to a decline in demand for formal men’s and women’s shoes, in which the factory is specialized. The plant was built between 2014 and 2015 and became fully operational in 2016. Its construction was heavily subsidized by the Serbian government. ...
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ArticleDeckers Brands posts Q1 sales growth, raises FY outlook
In the first quarter ended June 30, Deckers Brands reported a revenue increase of 78.2 percent to $504.7 million, leading to net earnings of $51.5 million against a loss of $6.9 million for the same period of last year. The company has raised its outlook and now expects net earnings ...
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ArticleDr. Martens warns of shipping delays due to Covid-19
The iconic British shoemaker Dr. Martens reported a big jump in first-quarter revenues, driven by continued growth in online sales and the reopening of stores. Revenues in the three months to June 30 rose by 52 percent year-on-year to £147.3 million (€173m-$205.6m). This was against a Covid-19-impacted comparative in 2020 ...
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ArticleHow Ralph Lauren transformed into a data-driven organization reviving brand relevance and driving sales
The historic American apparel brand’s sales revenue has been in decline. But by using data to understand customers better, it has carved out a brighter future.
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ArticlePrada operating profit above pre-Covid level
Prada finished the first half with earnings before interest and taxes (Ebit) above pre-Covid levels thanks to a recovery in sales and disciplined cost management. In the first six months of 2021, overall revenues totaled €1,501 million, up by 60 percent year-over-year on a reported basis and by 66 percent ...
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ArticleSteve Madden Q2 above expectations
Steve Madden posted higher-than-expected results in the second quarter and has shifted a significant part of its production out of China to Mexico and Brazil to address supply chain issues. The company also reported strong growth in Europe thanks to e-commerce.
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ArticleOrthoLite pushes for zero waste in insoles
U.S. insole specialist OrthoLite, a supplier for over 350 footwear brands worldwide, has announced a widespread zero waste initiative to reduce the environmental impact of its products that are used in roughly 500 million pairs of shoes every year. The company’s commitment includes investment in a proprietary manufacturing system that ...
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ArticleSsense: How relentless focus on target market lead to strong sales growth
The Canadian online fashion retailer adopted an alternative approach to its competitors, staying true to its traditional consumer base rather than diluting its offering.
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ArticleC-Suite interview: Pikolinos believes it will take several years to return to pre-Covid levels
“We are closing fiscal 2021 with a decline of about 30 percent in revenues compared to the previous years,” said Juan Manuel Perán, CEO of the Spanish shoe company Pikolinos in an exclusive interview with Shoe Intelligence. The company’s fiscal year runs from May 1 to April 30. Perán remains ...
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StockX's GMV up 90% thanks to new categories
In a mid-year snapshot of its “Culture Index,” which was first launched last year, StockX reported a 90 percent increase in the gross merchandise value (GMV) going through its marketplace in the first half of 2021, led by a growth of 250 percent from “emerging categories” such as gaming consoles, ...
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ArticleSkechers’ Q2 sales rise by 127.3%, driven by comfort trends
Skechers reported a 127.3 percent increase in revenues to a record level of $1.66 billion for the second quarter ended June 30, with a growth of 117.5 percent in local currencies. Compared with the second quarter or 2019, the top line grew by 31.7 percent on a reported basis. Improving ...
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ArticleCrocs raises guidance as Q2 revenues stride ahead
Crocs reported better-than-expected second-quarter sales and raised its full-year guidance on the back of strong global demand for its products, despite supply chain disruptions caused by the Covid-19 pandemic. Easily beating an analyst consensus forecast of $565.2 million, the company posted record revenues of $640.8 million for the three months ...
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ArticleC-Suite interview: Made in Italy Fund snaps up Autry, Ghoud sneakers and seeks synergies
The sneaker brands Autry and Ghoud are among the latest additions to the portfolio of the Made in Italy Fund, which is looking to capitalize on synergies from its growing stable of accessible luxury labels in fashion and footwear and tap into opportunities for international expansion. The fund could put ...
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ArticleFerragamo’s retail sales return to pre-Covid levels in July
In the first half, Salvatore Ferragamo’s revenues grew by 44.1 percent year-on-year to €523.8 million, missing market expectations by about €20 million. At constant currency rates, the top line increased by 46.2 percent driven by the Americas. The top line was cut by the deconsolidation of the company’s fragrance business, ...
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ArticleExpo Riva Schuh closes with 2,700 visitors
The 95th edition of Expo Riva Schuh and the 6th edition of Gardabags attracted over 2,700 visitors from 79 different countries, confirming their international reach despite the travel limitations caused by the Covid-19 pandemic. Buyers came from Europe, especially Italy, Germany, Poland, Spain, France and the Netherlands, as well as ...
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ArticleZegna to go public and L Catterton takes over Etro
The Italian fashion group Ermenegildo Zegna will go public and list on the New York Stock Exchange later this year through a merger with Investindustrial Acquisition Corp (IIAC), a special purpose acquisition company (SPAC) sponsored by subsidiaries of Investindustrial VII, a fund managed by the private equity Investindustrial founded by ...
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ArticleBrazilian exports rise by a third in volume
In the first half of 2021, Brazilian footwear exports rose by 17.7 percent in value to $389 million and by 32.3 percent in volume to 57 million pairs compared with the previous year when trade was depressed by the Covid-19 outbreak, according to data released by the local footwear association ...
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ArticleCovid outbreak closes major factories in Vietnam
A sudden and violent outbreak of the Covid-19 epidemic in Ho Chi Minh City (HCMC) and its environs is expected to delay shipments of shoes and apparel and may result in a loss orders for local manufacturers, according to the local NV Express, which cited the shutdown of 29 companies’ ...
