Latest Headlines – Page 94
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ArticleItalian footwear production down by a quarter in 2020
Footwear production in Italy fell by 24.6 percent in value to €6,023 million in 2020 and by 27.1 percent in volume to 130.5 million pairs due to the impact of the Covid-19 pandemic, according to preliminary data released by the Italian footwear association Assocalzaturifici. Overall revenues for the Italian footwear ...
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ArticleJD expands in Central and Eastern Europe
Pursuing its international expansion, JD Sports Fashion has signed an agreement to acquire a 60 percent stake in the Marketing Investment Group (MIG), a wholesaler and multi-channel retailer with a network of 410 retail stores in Poland and eight other neighboring countries. The deal is due to be closed before ...
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ILM cancels its physical edition but Gallery Shoes is confirmed
The physical edition of the international leather trade show ILM scheduled in April and located in Offenbach am Main, near Frankfurt, has been cancelled. The organizer, Messe Offenbach, said that the occupancy rate reached 70 percent but that the conditions were not met to hold a large physical event due ...
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ArticleUK lawmakers call for garment industry watchdog to combat labor abuses
British lawmakers have called for the creation of a garment industry watchdog to stop labor abuses at suppliers to fashion industry retailers such as Boohoo, saying voluntary codes to tackle exploitation are not working. Parliament’s cross-party Environmental Audit Committee (EAC), which has been investigating fashion sustainability for the last two ...
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ArticleBogs keeps momentum going
Even with low precipitation in November and December across the U.S., demand for Bogs, a footwear brand best known for its waterproof boots, remained strong in the fourth quarter, as consumers continue to spend more time outside during the pandemic. It continued to diversify its product mix, selling more lightly ...
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ArticleTod’s omits paying a dividend, again
For the second year in a row, Tod’s has decided to omit paying a full-year dividend after posting a net loss of €73.2 million in 2020, despite a fiscal boost of €85.2 million, compared with a net profit of €46.3 million the previous year. Initially, the Italian shoe maker had ...
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ArticleFashion companies speed up digitalization, target digital/brick-and-mortar integration
The Covid-19 pandemic and the resulting lockdowns have sped up the digital transformation for both businesses and consumers, at the same time setting off profound changes in digital retail, some of which are set to be long-lasting. These recent trends and the tools to best respond to this rapidly changing ...
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ArticleInditex posts a first-ever decline in floor space
Inditex, the Spanish group that owns the brands Zara, Pull Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home and Uterqüe, experienced its first ever decline in floor space in the full year that ended on Jan. 31. The Spanish group had 6,829 stores at the end of the fiscal year ...
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ArticlePrada returned to pre-Covid profitability in H2
Thanks to cost containment measures and a rebound in sales, Prada returned to pre-Covid-19 profitability levels in the second half of 2020. The recovery, however, was not sufficient to post a net profit for the full year, which was compromised by the decline in activity suffered in the first half ...
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ArticleVulcabras’ sales rise nearly 23% in Q4
Vulcabras posted double-digit growth in the last three months of the year, despite the impact of the pandemic on the shoe market in Brazil. Revenues rose by 22.8 percent from the year-ago quarter to 459.1 million Brazilian reais (€66.7m-$79.4m) and net income jumped by 21.1 percent to R$54.6 million (€7.9m-$9.4m). ...
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ArticleRizzo suspends purchases due to business slowdown
Rizzo Group, the Swedish retailer which offers suitcases, bags, shoes and accessories, is suspending purchases “to get through the spring” because of a sharp slowdown in activity stemming from the restrictions imposed to combat the Covid-19 pandemic. In a statement, the company, which is present in Sweden and Norway, is ...
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ArticleShoe Zone warns on profits
Shoe Zone has warned that profits are unlikely to return to pre-Covid pandemic levels for the “foreseeable future,” after it swung to a full-year loss, citing the impact of store closures during lockdowns. The company said revenues for the year to Oct. 3, 2020 slumped by 24 percent to £122.6 ...
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ArticleItalian industrial dynasty buys 24% stake in Christian Louboutin
The Dutch incorporated holding company Exor will invest €541 million to buy a 24 percent stake in the French luxury shoe maker Christian Louboutin, which is controlled by the founders. The transaction is expected to close in the second quarter and Exor will have the right to appoint two of ...
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ArticleCovestro uses CO2 to make shoes
The German chemical group Covestro is using CO2, along with recycled and more sustainable materials, to produce elegant, casual and sports shoes with its footwear partners. The campaign is part of the group’s efforts to expand the use of cardyon, a raw material for the production of polyurethanes made with ...
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ArticleHeinrich Dinkelacker completes relocation of production to Spain
Heinrich Dinkelacker, the traditional brand of high-end men’s shoes, has left Budapest for good, after relocating production to Almansa, Spain last year. The gradual move from Hungary to Spain began two years ago. The company said that the relocation was due to personnel and infrastructure problems in Budapest which ...
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ArticleBasicNet makes a small profit despite a 15% drop in revenues
BasicNet managed to post a small net profit for the 2010 financial year, in spite of the impact from the Covid-19 pandemic, leading the board of directors to propose the distribution of a small annual dividend of €0.06 per share. Noting that the flexibility of its business model has softened ...
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ArticleGrendene bounces back to post record sales
For the second consecutive quarter, Grendene posted record sales as the company recovered from a dismal second quarter thanks to strong domestic demand. The Brazilian footwear manufacturer posted a 29.5 percent increase in gross revenues to 1,029.4 million reais (€152.1m-$181.5m) in the fourth quarter, with domestic sales up by 40.8 ...
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Germany extends lockdown to March 28
On March 3, the federal-state conference in Germany decided on how to further extend its present lockdown for non-essential retailer operations until March 28, to help fend off the Covid-19 virus. Like in the U.K., it will be phased out in stages, but retailers are furious, partly also because many ...
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Germany plans to protect human rights in global supply chains
On March 3, the German federal government approved a bill that aims to force local companies to respect human rights in their global supply chain. Parliament is expected to pass the draft legislation, commonly referred to as the Supply Chain Act, by the middle of the year. The legislation is ...
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ArticleKering invests in secondhand e-tailer Vestiaire Collective
Kering has acquired an about 5 percent stake in Vestiaire Collective, an online platform for second-hand fashion items. The investment gives the French luxury goods group the right to be represented on e-tailer’s board. Kering and the American investment firm Tiger Global Management backed a €178 million financing round for ...
