Latest Headlines – Page 92
-
ArticleValentino Shoes Lab to resume production in May after fire
Valentino Shoes Lab is scheduled to resume production on May 3 after its manufacturing unit located in the industrial estate of Bucine, Tuscany, was 90 percent destroyed in a fire during the night between April 1 and 2. Production will be distributed over several sites as the reconstruction of the ...
-
ArticleItalian tanners warn about the rising cost of raw materials
The Italian tanners’ association, Unic, is warning about the “destabilizing” impact of a sharp increase in the price of raw materials. In recent weeks, the cost of raw hides and skins has increased in “a generalized and almost unreasonable way” while tanneries face a sharp decrease in demand, Unic said ...
-
ArticleVietnam sees 2021 leather and footwear exports reaching $20 billion
Vietnam’s Leather, Footwear and Handbag Association (Lefaso) expects its industry to achieve exports of more than $20 billion this year after suffering from a decline last year due to the impact of the Covid-19 pandemic on supply chains, consumption and trade. Last year, Vietnam’s export turnover of footwear and handbags ...
-
ArticleGerman consumers are ready to spend more, despite the lockdowns
German consumers are known to be keen on saving money when there is an economic crisis. Faced with what they call the “Corona crisis,” they have saved an estimated €230 billion since March 2020, when the crisis began, but they are said to be eager to spend more again once ...
-
ArticleVF’s new fulfillment center in the U.K. begins operations
VF Corp., through its local subsidiary VF Northern Europe Limited, has begun operations at its new fulfillment center in Bardon, Leicestershire, which will employ about 250 people at peak times. The new 55,800-square-meter center will have “state-of-the-art automation capabilities putting it at the forefront of the footwear and apparel industry.” ...
-
ArticleTeva works to divert products from landfills with new sandal recycling initiative
U.S. company Teva, founded in 1984 and part of Deckers Brands, has partnered with international recycling company TerraCycle to launch the TevaForever program to give worn-out Teva sandals a new life. The recycling program underscores Teva’s commitment to reducing its environmental impact and keeping waste out of landfills. “The TevaForever ...
-
ArticleStockX's value surges to $3.8 billion
StockX, the American online market for sneakers, raised $195 million in a secondary tender offering and an additional $60 million in Series E-1 primary shares at a $3.8 billion valuation. Altimeter Capital led the all-cash offer, with the participation of existing investors and of a new institutional investor, Dragoneer. The ...
-
ArticleAsos posts record profits on lockdown shopping boom
In the first half ended Feb. 28, the British online retailer Asos more than tripled pre-tax profits to a record £106.4 million (€122.8m-$145.8m) and raised full-year expectations as it continues to benefit from the Covid-19 pandemic. While the switch to online shopping during lockdowns boosted trading, Asos was cautious over ...
-
ArticleHR Group promotes Steffen Rosenbauer CEO
The German shoe retailer HR Group has appointed a new CEO. Steffen Rosenbauer, the managing director of the group’s Reno footwear chain, took up the post on April 1 as Peter Wolf resigned after a three-year tenure to return focusing on the role of chairman of the advisory board. Rosenbauer, ...
-
ArticleGlobal footwear consumption seen up 2.8% in 2021
Global footwear consumption is expected to rise by 2.8 percent in volume this year as the market recovers from losses posted last year due to the Covid-19 pandemic, according to a projection established from the answers of a panel of experts for the latest Business Condition Survey of World Footwear. ...
-
Article
Daphne International cuts its net loss as it changes business model
The women’s footwear company Daphne International Holdings ended 2020 with a 77 percent reduction of its net loss to 242.0 million Hong Kong dollars (€26.5m-$31.1m) as an 83 percent drop in revenues to HK$ 363.9 million (€39.9m-$46.8m) resulted in a sharp fall in selling and distribution expenses as well as ...
-
ArticleGerman shoe manufacturers post 8.4% revenue drop in 2020
Germany’s footwear and leather goods sector took a heavy hit from the coronavirus pandemic in 2020 and the impact of the crisis is expected to continue to be felt this year, according to reports from the Federal Association of the Shoe and Leather Goods Industry (HDS/L). In the footwear ...
-
ArticleH&M March sales up by 55%
In the period from March 1-28, Hennes & Mauritz (H&M)’s net sales increased by 55 percent in local currencies, recovering from a 21 percent decline in the first quarter that ended Feb. 28. On a reported basis, the Swedish fashion and accessories retailer H&M booked first-quarter net sales of 40,060 ...
-
ArticleThe post-Covid world will pose new challenges
The pandemic has acted as a strongly disruptive force in the global economy, triggering significant shifts in production processes, supply chain management, shopping habits and customer relations across many sectors, including the footwear and leather goods sector. These topics and the broader post-Covid globalisation process were discussed in the ...
-
ArticleRecord sales and earnings for Shoe Carnival
Shoe Carnival had its best fourth quarter ever, with revenues reaching $253.9 million in the three months ended Jan. 30, 2021, a 5.8 percent increase from the year-ago quarter. Comparable-store sales increased by 6.4 percent. The American shoe retailer improved its gross margin by 1.7 percentage points to 30.8 percent. ...
-
ArticleFerragamo confirms CEO staying on board
The majority shareholder in Salvatore Ferragamo has presented its slate of candidates for the Italian luxury group’s new board, with Micaela Le Divelec Lemmi confirmed as CEO despite speculation of a management shakeup. Executive deputy chairman Michele Norsa, the CEO of Ferragamo from 2006 to 2016 who rejoined the company ...
-
ArticleKeen turns its process for PFC-free footwear open-source
Portland, Oregon-based footwear brand Keen has developed an open-source model for manufacturing PFC-free footwear. To support this initiative, the brand has also challenged the entire outdoor footwear industry to be PFC-free by 2025. Product developers can visit www.keenfootwear.com/Detox to view details about the detoxification process Keen has followed since 2014 ...
-
ArticleUzbekistan to produce Nike and Adidas footwear for Asia, Europe
The Uzbek company SinoInternational has inked an agreement to produce 3 million pairs of shoes in total under the Nike and Adidas names at its new factory in the Andijan region starting from the fourth quarter of 2021. The facility is expected to achieve full production in the third quarter ...
-
ArticleCovid-19 accelerates the shift to sustainability in the fashion industry
The Covid-19 pandemic has acted as an economic and social game changer in many respects, causing a strong disruption of previous business models as well as supply chain and production processes. This is also true for the fashion industry, where it also accelerated a clear shift toward sustainability in ...
-
ArticleRizzo Group to undergo another restructuring
Rizzo Group, formerly known as Venue Retail Group, has applied for a new corporate reorganization with a Stockholm-based court. The decision follows a “sharp drop in sales” due to harsher restriction measures following a second wave of the Covid-19 pandemic from October 2020. The request comes six months after the ...
