Latest Headlines – Page 96
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ArticleSchuhkay ends bankruptcy proceedings after acquisition
The Hamburg-based footwear retailer Schuhhaus Kay GmbH & Co KG ended its bankruptcy proceedings and completed its overhaul as part of an asset deal. The company went into bankruptcy in November 2019 and proceedings were opened in early 2020. On Feb. 12, Berlin entrepreneur Steffen Liebich’s company Goal ...
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ArticleKuehne+Nagel buys a Chinese freight company
The Swiss logistics group Kuehne+Nagel has entered into a binding agreement to acquire the Chinese freight forwarder Apex International Corporation. No financial details were released. Apex was founded in 2001 and has about 1,600 employees. It generates yearly revenues in excess of €1.9 billion. In 2020, the company handled total ...
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ArticleThe U.K. to regulate the “buy now pay later” market
The British government announced that the increasingly popular interest-free ”buy now pay later” (BNPL) credit agreements will be regulated by the Financial Conduct Authority (FCA) in order to protect consumers. The government noted that the volume of transactions involving BNPL solutions more than tripled in 2020 as the pandemic drove ...
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ArticleScarpa introduces Green Manifesto
The Italian producer of outdoor footwear Scarpa has announced the Green Manifesto, comprehensive strategy that summarizes the company’s pledge and initiatives for sustainability. The spirit of the manifesto revolves around five principles that start with the letters that compose the name of the company: S for sustainability; C for ...
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ArticleShoe Zone’s finance director quits unexpectedly
Shoe Zone’s finance director, Peter Foot, has left the business with immediate effect after only seven months in the job and two weeks before the publication of the company’s annual results. He had joined the company on July 6, 2020. The board has started the search for a replacement. Foot’s ...
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ArticlePeter Kaiser confirms sales talks with potential investor
The ailing women’s shoe manufacturer Peter Kaiser Schuhfabrik could be close to at least a partial rescue by the hands of a financially sound investor. The German company’s general representative Martin Mucha, from the law firm Grub Brugger, and trustee Günter Staab, from Staab & Kollegen, said that sales ...
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ArticleMicam to hold a digital edition from March 8 to May 8
After cancelling its physical edition, which was scheduled from March 21 to 23, because of the resurgence of the Covid-19 pandemic, the Milan-based footwear trade show Micam will hold a virtual event from March 8 to May 8 called Micam Milano Digital Show. The first edition of the digital show, ...
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ArticleCortina leverages its logistics expertise
Cortina, the Belgian footwear company, is leveraging off its experience dating back to the 1950s in handling the logistics for the shoes it produces. It is now actively marketing these services to third parties under a new brand, Synogix, and with an eye on becoming a logistics partner for internationally ...
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ArticleLogistics costs lift prices of Russian footwear imports
A hike in sea transportation tariffs is expected to increase prices of Russian footwear imports in the next few months, with cheaper shoes being most affected by the additional expense. At the end of 2020, the average tariffs for sea freight from China to Russia jumped from $1,500 to $9,000 ...
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ArticleExpo Riva Schuh holds a virtual showroom Feb 18-19
Expo Riva Schuh & Gardabags is holding a virtual showroom on Feb. 18 and 19 on the Swapcard platform to discover the footwear and leathergoods collections offered by the exhibitors who took part in the Home Edition of the trade show. The so-called Home Edition was a digital version of ...
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ArticleCCC achieved over half its Q4 sales online
The Polish footwear company CCC posted sales of 2 billion Zloty (€446.0m-$541.3m), largely unchanged from the previous year, in the fourth quarter, which covered four months including January. Sales were affected by Covid-19 lockdowns, but e-commerce grew by 84 percent year-on-year and generated 55 percent of quarterly sales. In January ...
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ArticleVF to promote labor diversity
In line with its Council to Advance Racial Equity (CARE) and Inclusion, Diversity, Equity and Action (IDEA) initiative, VF Corp. is implementing a number of new measures in its labor policy. “All VF employees will participate in a foundational inclusion and diversity learning journey to ensure they share a common ...
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ArticleClarks was loss-making before the pandemic
The British footwear company Clarks was loss-making before the pandemic broke out last year, according to documents filed with the British registrar of companies, Companies House. In the full year ended Feb. 1, 2020, Clarks posted an 8 percent decline in sales to £725.3 million (€827.9m-$1.0bn) as it sold fewer ...
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ArticleFashion retail helps define future consumer behavior
As consumer behavior evolves, driven by the recent social, economic and demographic developments, a closer look at fashion retail can help pinpoint strategies to tackle new trends, needs and purchasing habits on the broader market. A talk held on Feb. 11, as part of the Expo Riva Schuh & ...
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ACBC raises €3.2m through new capital hike
ACBC, a Milan-based start-up company that is offering a modular footwear technology, completed a €3.2 million capital increase which attracted a string of investors, including the venture capitalist Boost Heroes, the online investing platform Doorway and the Italian government-controlled financial group Cassa Depositi e Prestiti through its unit AccelerORA!. The ...
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ArticleObuv Rossii’s revenue shrank in 2020
The Russian footwear retailer Obuv Rossii reported that its revenues for 2020 decreased by 20.9 percent to10.845 billion rubles (€121m-$147m) from 13.702 billion rubles (€153m-$186m) in the previous year due to the impact of the Covid-19 pandemic. Anton Titov, chairman of the Obuv Rossii Group, stated that 2020 was one ...
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Itochu and Aquafil join forces to sell recycled nylon
The Japanese trading company Itochu and the Italian chemical firm Aquafil have entered a partnership to promote and expand the businesses of circular nylon production. In 2011, Aquafil created the Econyl Regeneration System that turns recovered nylon waste such as fishing nets, carpets and post-industrial waste back to caprolactam (CPL), ...
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VF wants to eliminate single-use plastic packaging by 2025
VF Corp. has announced new sustainable packaging goals, defined as “a critical component of VF’s global sustainability strategy” for its large portfolio of brands, which includes The North Face, Vans, Timberland, icebreaker and Eastpak, among others. The new targets revolve around the following four pillars : 1) Eliminate all single-use ...
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ArticleKickz reshuffles management after takeover
The German chain of streetwear and sneaker stores Kickz is reorganising its management team and is gearing up for the future after its recent takeover. The new co-CEOs Mark Petereit and Denis Horvat will take the helm on Feb. 15, a dual leadership that should steer the company through ...
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ArticleLectra plans to buy Gerber Technology
Lectra has reached a preliminary agreement to buy the whole capital of the American company Gerber Technology in a cash and stock deal worth about €300 million. Both companies produce laser cutting machinery used by shoemakers. Under the proposed deal, Lectra would buy Gerber for €175 million in cash and ...
