Latest Headlines – Page 86
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ArticleAsos warns of volatility ahead as global sales rise
The British online fashion firm Asos warned of volatility in the months ahead as it reported a rise in sales and maintained its annual profits guidance. It added that profits were being squeezed by increased freight costs and global supply chain disruption caused by the Covid-19 pandemic and Brexit. “The ...
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ArticleBoohoo ties-up with Alshaya to expand Debenhams in Middle East
Boohoo has formed a partnership with Kuwait-based Alshaya Group to expand the presence of the British fast fashion retailer’s Debenhams brand in the Middle East. Alshaya, a franchise operator which currently runs Debenhams stores in shopping malls, will have exclusive rights to operate the stores and a local e-commerce platform ...
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ArticleGerman e-commerce grows strongly, marketplaces on the rise
Figures published for the second quarter of 2021 by the German e-commerce and mail order trade association, BEVH, show an unbroken overall trend toward e-commerce and the use of online marketplaces for all types of goods in Germany, even though restrictions on brick-and-mortar retailing have been eased. After a strong ...
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ArticleNordstrom invests in Asos brands
The American department store chain Nordstrom has bought a minority stake in four brands owned by the British online fashion retailer Asos as it pushes to grab a share of the lucrative 20-something market. Nordstrom will take a minority stake in the Topshop, Topman, Miss Selfridge and activewear HIIT brands, ...
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ArticleHow About You has become Europe’s fastest-growing online fashion platform
The company is using technology – and good timing – to stand out in a crowded market of online retailers.
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ArticleSpartoo raises €23.7m through a capital increase
The French footwear and fashion e-retailer Spartoo raised a gross €23.7 million through the issuance of new shares sold in an initial public offering (IPO) that completed on July 2. Based on the midpoint of its price range, the company was expecting gross proceeds of about €25 million, or €22.2 ...
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ArticleU.S. faces a record hike in footwear prices as economy reopens
The supply disruptions caused by the Covid-19 pandemic are pushing up footwear prices in the U.S. as consumer spending picks up with the reopening of the economy. Large brands are also coming out of the pandemic stronger than their smaller rivals and are ready to engage into acquisitions, which ...
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ArticleAllbirds makes 10 sustainability commitments for 2025
Allbirds, the B Corporation certified Californian brand of footwear and apparel, has announced 10 sustainability commitments to be achieved by 2025. The objectives come under three categories: regenerative agriculture, renewable materials and responsible energy use. The two regenerative agriculture pledges are that all wool will come from regenerative sources and ...
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ArticleKlarna acquires social shopping platform Hero
Klarna, the retail banking, payments and shopping service from Sweden with over 90 million active users worldwide and 2 million transactions per day, has acquired Hero, a social shopping platform founded in 2015 and based in London and New York. Hero aims “to provide consumers with inspiration, advice and immediately ...
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ArticleOVS jumps to top of fashion transparency ranking but sector progress ‘too slow’
The Italian retailer OVS jumped to the top spot in the 2021 Fashion Transparency Index published by Fashion Revolution as the global activism movement pushing for greater disclosure in fashion supply chains warned that progress in transparency in the sector generally remains “too slow”. OVS reached 78 percent of the ...
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ArticleItalian footwear production down 6.4% in Q1
Despite a 47.9 percent year-on-year surge in output in the month of March, Italian footwear production fell by 6.4 percent in the first quarter compared with the previous year as the industry continued to be affected by the impact of the Covid-19 pandemic. The decline reached 29.9 percent when compared ...
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ArticleStocks of footwear firms benefit from the re-opening of the economy in Q2
In the second quarter, stocks of footwear companies were generally higher as they benefited from the reopening of the economy, following the easing of Covid-19 restrictions, and a subsequent rebound in the consumption of clothing and shoes. Large U.S. footwear companies, which had already posted strong gains in the first ...
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ArticleU.K. fashion industry struggles to absorb higher costs from Brexit
Brexit has led to higher prices and increased bureaucracy for the clothing industry and companies are struggling to absorb the additional costs, a comprehensive industry survey has found. The poll of 138 firms by the UK Fashion and Textile Association (UKFT) showed that British firms are experiencing shipping delays, higher ...
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ArticleNice Footwear buys Favaro Manifattura Calzaturiera
Nice Footwear, an Italian company specializing in sneakers, has taken over Favaro Manifattura Calzaturiera, an Italian manufacturer of luxury women’s shoes. No financial details regarding the transaction were released, but the company specified that it is acquiring only 80 percent of Favaro, the remaining 20 percent staying in the hands ...
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ArticleC-Suite interview: Velasca aims to increase sales 10-fold to €100m in five years
Velasca, a fast-growing Milan-based footwear company, focuses on offering quality Italian-made shoes at reasonable prices through a tightly controlled direct-to-consumer (DTC) strategy. It aims to increase revenues from €10 million to €100 million in about five years and is currently seeking to raise €20 million to finance its growth.
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ArticleFlattered doubles sales in 2020 thanks to discounts, online marketing
The Swedish shoe manufacturer Flattered was hard-hit by the first wave of the coronavirus pandemic last year, but rapidly managed to recover and significantly increase sales during the remainder of the year. As of the spring of 2020, the company struggled with cash flows and became deeply concerned about ...
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ArticleCCC pulls out of Austria, to sell 29 stores to Pepco
The Polish footwear company CCC is withdrawing from the Austrian market and Pepco will take over 29 of CCC Austria’s 46 stores on Sept. 30, 2021. Pepco, a Polish retailer which offers everything from clothing to cosmetics and school supplies, operates more than 3,200 low-cost stores in 16 countries ...
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ArticleVivarte in exclusive talks to sell Minelli
Vivarte has entered exclusive talks to sell its footwear and accessories brand Minelli to the businessmen Stéphane Collaert and Laurent Portella, who run the footwear brand San Marina. Collaert was involved in the purchase of San Marina, in February 2020, from Vivarte. Created in 1973, Minelli is part of the ...
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ArticleBurberry’s CEO to join Ferragamo
The Italian luxury goods group Salvatore Ferragamo has reached an agreement to hire Marco Gobbetti as its general manager and chief executive, as soon as he is released from his contractual obligations with the British luxury goods group Burberry, where he is currently CEO. Before Burberry, Gobbetti was CEO of ...
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ArticleC-Suite interview: British flip flop start-up FoamLife begins with a bang
The British start-up FoamLife has started trading in the U.K., Ireland and France and is currently in talks with distributors and agents to expand in new markets next year. It has also launched a direct-to-consumer business in the British Isles through its own platform and Amazon and is scheduled to ...
