Latest Headlines – Page 91
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ArticleLVMH hikes stake in Tod’s to 10% and triggers takeover speculation
Tod’s’ shares rose by 11.39 percent to €39.32 in trading on the Milan exchange on April 23 after the announcement that LVMH would increase its stake in the Italian footwear company to 10.0 percent, a move analysts believe could be a prelude to an eventual acquisition. Tod’s’ chairman Diego Della ...
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ArticleRussian shoe sales remain weak except in main cities
In March, demand for shoes in Russia was estimated 15 percent lower in volume than during the same period of the previous year, according to a research conducted by the Russian IT firm Evotor. The decline can be partially attributed to a price increase caused by the depreciation of the ...
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ArticleTrade fair organizer says demand for physical events remains strong
Informa, a British provider of information services, advanced learning, B2B exhibitions and events, said that demand for physical events “remains strong” and it expects the sector to resume growing from next year after having being hit by Covid-19-related restrictions. Informa’s unit Informa Markets is involved in numerous trade shows including ...
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ArticleZalando's pre-owned service now reaches 13 countries
On April 22, Zalando extended its service selling second-hand garments to seven additional European countries: Austria, the Czech Republic, Denmark, Finland, Ireland, Italy and Sweden. In October 2020, Zalando launched the “pre-owned” platform in six countries: Germany, Spain, Poland, France, Belgium, and the Netherlands. Torben Hansen, vice president recommerce at ...
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ArticleThe Hickies brand of no-tie shoelaces is for sale
Acting in behalf of Midcap Funding XVII Trust, which is Hickies’ main lender, Hilco Streambank is seeking bids for the acquisition of the American brand of no-tie shoelaces and related assets on its website by May 20 at the latest, setting a date of May 25 for their auction. The ...
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ArticleTencel launches e-commerce platform
The Lenzing group’s Tencel textile brand has launched the Tencel eShop. This first e-commerce site from a sustainable fiber manufacturer “bridges the divide between manufacturers and the end-consumer by curating a diverse mix of apparel and home goods made of Tencel branded fibers,“ the company said. The debut marks a ...
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ArticleExpo Riva Schuh rescheduled to July 18-20
The 95th edition of Expo Riva Schuh and the 6th edition of Gardabags have been pushed back to July 18-20 “to enable the workers in this sector to get back together in person and in total safety.” The summer editions of the joint footwear and handbag trade shows, which are ...
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ArticleLVMH, Prada and Cartier launch a blockchain for luxury goods
LVMH, Prada and Cartier, a unit of the Swiss luxury goods group Richemont, have joined forces to develop the Aura Blockchain Consortium, a global luxury blockchain. LVMH said that the collaboration “between competitors represents a single, innovative solution to shared challenges of communicating information on authenticity, responsible sourcing and sustainability ...
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ArticleBirkenstock assigned a ‘B’ rating by S&P
The rating agency S&P Global assigned a ‘B’ rating with a stable outlook to BK LC Lux Finco 1 Sàrl, the parent company of Birkenstock. The rating comes after the private equity firm L Catterton and its affiliates, including Financière Agache, the investment company of the Arnault family, agreed to ...
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ArticleSequential Brands cannot comply with its covenants
Sequential Brands, a U.S. group that has a portfolio of consumer brands including Heelys, Avia and DVS, said that it is not expected to be able to comply over the next twelve months with certain of its financial covenants. It noted that if it fails to comply with the covenants ...
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ArticleTexon presents “ground-breaking” ProWeave technology
Texon presented ProWeave, a “ground-breaking” jacquard weaving technology which it claims makes it possible to seamlessly integrate functional and design weaving into a single sheet of material. It commented that ProWeave opens up “infinite new design possibilities” by enabling the production of continuous woven substrates with the “zonal features product ...
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ArticleAktiv Schuh’s restructuring plan is approved by creditors
Less than nine months after Aktiv Schuh filed for bankruptcy, creditors unanimously approved its restructuring plan. As the Berlin-based company’s reorganization is about to be completed, Aktiv Schuh - a 120-year-old family business that employs around 200 people - expects self-administration proceedings to be lifted this month. On July ...
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ArticleOnline sales exceed €100 billion in German-speaking countries
In 2020, the outbreak of the coronavirus pandemic led revenues from e-commerce to exceed the €100 billion threshold for the first time in the German-speaking countries of Germany, Austria and Switzerland, according to BEVH, the German E-Commerce and Distance Selling Trade Association. Orders averaging €1,000 were placed by customers in ...
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ArticleTop footwear brands gain 9% in value
Footwear is the only subsector of the Brand Finance Apparel 50 2021 survey to increase in brand value year-on-year, posting a 9 percent increase on average to $5.0 billion. New entrants in the ranking, Timberland and Converse, recorded 47 percent and 8 percent increases in brand value respectively. The ...
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ArticleMost consumers have changed shopping habits with the pandemic
In its latest Fast-Moving Consumer Goods (FMCG) Report 2021, London-based data and analysis company YouGov surveyed more than 19,000 consumers in 17 markets worldwide to find out about their shopping behavior. The study reveals differences between the various markets, but also similarities. A 59 percent majority of consumers across all ...
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ArticleBavaria enforces a lockdown, England re-opens
While Bavarian shoe stores were forced to close down again as of April 12, all types of non-essential retailers, including shoe stores, were allowed to re-open in England and Wales. The British Retail Consortium has estimated that non-food stores have lost some £27 billion (€31bn-$37bn) in sales from 16 weeks ...
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ArticleActivist shareholder seeks to take control of Genesco’s board
Legion Partners Asset Management, which owns 5.6 percent of Genesco’s capital, is seeking to take control of the eight-member board of the American footwear firm with the intention of boosting the company’s earnings and share performance. Legion is proposing the election of seven nominees - Marjorie Bowen, Thomas Kibarian, Margenett ...
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ArticleKering unveils new logistics hub in Italy
Kering has presented its new logistics hub located in Trecate, about 50 kilometers west of Milan in the province of Novara, and managed by XPO Logistics. The French luxury goods group said that it was its largest investment in Italy but without indicating the amount. The site is composed of ...
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ArticleStocks of U.S. footwear companies rebound sharply in Q1
The shares of the American footwear companies rebounded sharply in the first quarter of 2021 as the sector recovers from the market turbulence caused last year by the Covid-19 pandemic. American footwear companies are benefiting, like the rest of the equity market, from cheap and abundant money provided by U.S. ...
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ArticleSpanish footwear manufacturers seek to avoid U.S. tariff
The Spanish footwear association Fice is seeking to fend off a possible 25 percent tariff imposed by the U.S. on Spanish footwear. The trade organization said that it held a meeting on April 8 with Juan Martínez, the general director of Spain’s trade policy, to express “the enormous concern” generated ...
