Latest Headlines – Page 99
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ArticleLi Ning’s unit Viva China may take over Clarks for £51m
Chinese Olympic gold-medallist-turned-businessman Li Ning is about to take control of the British shoe maker Clarks less than a month after the iconic brand sold a majority stake to the Hong Kong-based private equity firm LionRock Capital. Li is the non-executive chairman of LionRock. Li, a former gymnastics star who ...
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Stella’s revenues down by 19% in Q4
Stella International continued to struggle in the fourth quarter, ending a difficult year for the Chinese footwear company. Shipment volumes for the last three months of 2020 were down by 21.7 percent from the year-ago quarter to 10.8 million pairs, while total revenues plunged by 18.9 percent to $280.1 million, ...
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ArticleStocks of footwear companies fell by 16.3% in 2020
Well functioning financial markets are providers of information and signals. We are analyzing last year’s performance of footwear companies, but also of luxury goods and e-commerce companies with a strong footwear component, to see how markets perceived some of the key players of our industry.
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ANWR Schuh names new managing director
The German footwear buying group ANWR Schuh, ANWR Group’s footwear division, kicked off 2021 with a management shake-up. Starting from Jan. 15, Helmut Wies, who served as head of retail consulting at ANWR Schuh for many years, will take up the post of managing director in charge of consulting, ...
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ArticleUBC plans to buy a fashion brand
The Italian company United Brands Company (UBC) is currently in talks to buy a fashion brand and if completed, the deal could radically transform the enterprise. The firm has the backing of two unnamed investment funds that could finance the acquisition through a capital hike. Such a transaction would significantly ...
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Unichel restructures its retail network
Russia’s biggest shoe manufacturer, Unichel, is restructuring its retail network to mitigate the impact of the Covid-19 pandemic. At the beginning of 2020, Unichel ran 600 stores in 250 cities in Russia and Kazakhstan, but last year it shut down 40 stores and opened 30 new ones, in different locations, ...
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ArticlePrimark loses £540m in sales in 4 months due to Covid
The Irish clothing retailer Primark suffered a loss of sales of £540 million (€608m-$739m) in the 16 weeks to Jan. 2 due to store closures deriving from lockdowns in various European countries to combat the spread of the Covid-19 pandemic. Primark posted sales of £2,031 million (€2,288m-$2,778m) in the period, ...
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ArticleBoohoo lifts revenue guidance as Christmas sales soar
The fast fashion online retailer Boohoo has raised revenue forecasts after a better-than-expected 40 percent surge in pre-Christmas sales. The owner of Nasty Gal, Karen Millen, Oasis and Warehouse now expects revenue to increase by 36-38 percent in the year to Feb. 28, up from an earlier guidance of 28-32 ...
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VF reorganizes APAC operations
VF Corp. has decided to move the center of its brands’ operations in the Asia-Pacific region from Hong Kong to Shanghai, where it already has some 900 office and retail employees. Some of the operations will also be transferred to Singapore and Kuala Lumpur, the capital of Malaysia. The transition ...
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ArticleDr. Martens steps forward with plans for London listing
The iconic British boot brand Dr. Martens plans to float on the London Stock Exchange as it looks to expand its offering and drive e-commerce sales. The company, whose boots and shoes were made famous in the punk era and are enjoying a resurgence in popularity today, expects an eventual ...
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ArticleOeko-Tex carries out its annual standards revision
Oeko-Tex, an association of 18 independent research and testing institutes worldwide that sets standards for more safety in products of the textile and leather industry and their manufacture, is proceeding with its annual revision of test criteria, limit values and requirements for its sustainability certifications and labels – the objective ...
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ArticleCopenhagen International Fashion Fair cancels February edition
Copenhagen International Fashion Fair (CIFF) will not hold its regular February edition after the Danish government prolonged restrictions to combat the propagation of the Covid-19 pandemic. It noted that following the government’s decision, no trade show activity is possible until Feb. 28. But, CIFF plans to return with a “strong ...
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ArticlePrada’s December retail sales return to 2019 levels
Prada Group’s retail sales returned to last year’s levels in December and the Italian luxury goods firm is generating operating profits again. The company noted that despite ongoing store closures caused by Covid-19 related lockdowns, which averaged 9 percent of its network during the second half of 2020, it has ...
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ArticleClarks descendant says management failed to ‘move into 21st century’
Shoe maker Clarks failed to keep up with retail trends while shareholders prioritized dividends over investment, according to one of the family members. Galahad Clark, a descendant of founders Cyrus and James Clark, said the company failed to “move fast enough into the 21st century”, ultimately leading to a £100 ...
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ArticleNext sees full price sales returning to 2019/2020 levels this year
Next, the British retailer of clothing, footwear and home products, anticipates a strong rebound in profits in the financial year ending in January 2022, as full price sales return to the levels posted in the financial year that finished in January 2020. The company reported that full price sales in ...
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ArticleItalian shoe makers hit by Christmas shopping restrictions
The Italian footwear association Assocalzaturifici warned that restrictive measures introduced over the Christmas shopping period in various countries to combat the propagation of the Covid-19 virus will have “serious repercussions” on an already weakened industry. In Italy, the government had to reintroduce restrictions with the resurgence of cases and even ...
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ArticleEU, China reach in principle an agreement on investments
After seven years of talks, the European Union and China have agreed in principle on an investment agreement after their leaders met on a conference call on Dec. 30. The parties had set the end of 2020 as the deadline to strike a deal. The European Commission said that the ...
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ArticleU.K. signs free trade agreements with Turkey, EU
The U.K. and Turkey have signed tariff-free trading arrangements and are committed to reach a ”more ambitious” agreement in the future, according to the British Department for International Trade . The free trade agreement was signed by the U.K.’s International Trade Secretary, Liz Truss and Turkey’s Minister for Trade, Ruhsar ...
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ArticleInterview: Diversity equals innovation - D’Wayne Edwards
As part of our survey on diversity and inclusion, the first part of which was published on Dec. 23, we had an email interview with D’Wayne Edwards who was the lead designer of Nike’s iconic Air Jordan brand for a decade from 2001, making him one of the most prominent ...
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ArticleANWR takes resellers to the Netherlands through Amazon.nl
The German footwear buying group ANWR is making it easier for its partners to sell on Amazon in the Netherlands. Since the beginning of December, all resellers operating on the German Amazon marketplace through the e-commerce control tool Qualibet, which is run by ANWR Group’s unit ANWR Media, can ...
