Latest Headlines
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ArticleSteve Madden returns to a quarterly profit
Steve Madden returned to a profit in the fourth quarter as its results improve after the slump caused by the Covid-19 pandemic. The American designer of footwear, accessories and apparel posted a 15.9 percent year-on-year decline in revenues to $353.0 million but the gross margin increased to 38.3 ...
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ANWR and Sabu offer liquidity support to retailers
The German retail cooperatives ANWR and Sabu are continuing to support their members by engaging in initiatives to underpin their liquidity as the coronavirus crisis drags on. ANWR Group is offering its affiliated national and international footwear, sporting goods and leathergoods retailers a €150 million financing ...
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Payless returns to brick-and-mortar retailing in the U.S.
The American footwear retailer Payless is returning to brick-and-mortar retailing in its home market with the opening of a concept store on March 1 in Miami. But, the grand opening and ribbon-cutting event will be held a week later on March 8. After filing for Chapter 11 bankruptcy ...
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Birkenstock is taken over by companies linked to LVMH
Birkenstock is being taken over by investment companies linked to the French businessman Bernard Arnault , the controlling shareholder and head of the French luxury goods group LVMH . The transaction will enable the German family-owned sandal maker to expand in Asia. Under the deal, the private equity ...
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Wolverine posts weak results but is hopeful for 2021
The year 2020 was a difficult one for Wolverine Worldwide . Looking on the bright side, the management said it delivered better-than-expected results for the fourth quarter and is poised to drive an accelerated recovery over the next 12 to 16 months. The group posted a double-digit sales decline in ...
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Online sales in Russia skyrocket
In 2020, the Russian online market totaled 3.2 trillion rubles (€35.4bn-$43bn), which was 58.5 percent higher compared to the previous year, Russia’s Association of Internet Trade Companies ( AKIT ) estimated. The turnover for domestic platforms doubled, reaching 2.8 trillion rubles (€31bn-$36.7bn). The remainder of the spending went to ...
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Three German retail associations merge to have more clout
Three German retail associations BTE (representing apparel), BDSE (footwear) and BLE (leathergoods) have decided to merge this year to form the BTE Handelsverband Textil, Schuh, Lederwaren . The combination will give the new assocation more clout in defending the interests of their members “alongside and in line ...
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Rocky Brands ends 2020 with strong profits
Rocky Brands ’ net income surged by 91.1 percent in the fourth quarter to $9.7 million, which includes $0.7 million related to the pending acquisition of the performance and lifestyle footwear business of the U.S. conglomerate Honeywell International for $230 million. The deal is expected to close by the ...
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Sweden successfully holds a physical trade event
Sweden, which has not introduced a lockdown or imposed wearing facemasks to combat the Covid-19 pandemic, held a physical order days for the footwear industry despite the challenges caused by the virus. Trade Partners Sweden organized ”Order days in Varberg for the shoe industry” from Feb. 21 to ...
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Scholl and Dr. Scholl’s are reunited under a single ownership
Reckitt Benckiser (RB), a British producer of consumer goods, is selling the footcare brand Scholl to Yellow Wood Partners , a Boston-based private equity firm which already owns Dr. Scholl’s . The sale includes RB’s Amopé , Krack and Eulactol footcare brands and is expected ...
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Crocs’ profits soar on record sales
Crocs is still enjoying a strong momentum as its fourth-quarter revenues jumped by 56.5 percent from the year-ago quarter to a record level of $411.5 million. In constant currencies, they gained 56.1 percent.The number of pairs sold during the quarter grew by 38 percent to 18.9 million, and their average ...
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Italian fashion industry still expects sharp declines in H1
The Italian fashion industry still expects sharp declines in sales during the first two quarters of 2021, after falling by 26 percent in 2020 due to the Covid-19 pandemic, according to a survey released by Confindustria Moda , the umbrella association which comprises Sistema Moda Italia (SMI), which groups ...
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England plans to reopen non-essential stores April 12
The British Prime Minister Boris Johnson announced that non-essential retailing may reopen in England on April 12 after having been closed to prevent the spread of the Covid-19 pandemic. England introduced a third national lockdown on Jan. 4. Johnson said that the vaccination campaign underway in the U.K. ...
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New Zealand Merino launches 100% regenerative wool platform with Allbirds, Icebreaker, Smartwool
The New Zealand Merino Company ( NZM ) and global Merino wool apparel and footwear brands Icebreaker, Smartwool and Allbirds will work collectively with 167 sheep growers in New Zealand to create ZQRX , the world’s first regenerative wool platform. “ZQRX is an important and necessary evolution ...
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ECC appoints second managing director
The European-Clearing-Center (ECC), which acts as a platform for electronic data exchange between producers and retailers in the footwear and fashion sector, is strengthening its management team. As of April 1, Stefan Nicolai , an expert in inventory and data management, will become managing director for marketing and ...
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Schuhkay 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 ...
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Kuehne+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 ...
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The 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 ...
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Scarpa 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 ...
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Shoe 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 ...
