Latest Headlines
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ArticleHow an iconic Italian footwear brand went from rags to riches
In just a few years, Valleverde’s turnover has increased more than twenty-fold, surging from €1.5 million in 2015 to €32 million in 2023. Last year, the top line was up by 28 percent compared with 2022. In 2015, Elvio Silvagni took one of the best-known Italian shoe brands out of ...
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ArticleAsos’ losses widen but excess stock cuts ahead of target
Asos’ half-year losses widened as the British online fast-fashion retailer continued to deal with competition from its Chinese rival Shein, but it was ahead of target on shifting the mountain of excess stock built up during the Covid-19 pandemic. The company reported an adjusted loss before tax of £120 million ...
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ArticleBlack Yak collaborates with SK, Dongsung for a sustainable trekking shoe
The South Korean companies SK chemicals, Dongsung Chemical and BYN Black Yak jointly announced that they have developed sustainable footwear materials using the naturally-derived material Ecotrion and applied it to Black Yak’s trekking shoes 343 MAX. The shoe was presented on April 18 after a year of collaboration. SK chemicals ...
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ArticleCirql launches a fully recyclable midsole made from 30% recycled TPU
The US-based insole specialist OrthoLite, the company behind Cirql, a provider of sustainable material solutions for the global footwear industry, has launched a new midsole foam called Cirql rTPU30. According to Cirql, the patented innovation consists of 30 percent recycled thermoplastic polyurethane (TPU) material and is manufactured through a chemical-free, ...
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ArticleCrocs names a new head for Heydude
Crocs has appointed Terence Reilly as the Executive Vice President and President for Heydude, as the brand expands its retail business and its European presence. Reilly will join the group’s executive leadership team on April 29 and will report directly to Andrew Rees, the Chief Executive Officer of Crocs, Inc. ...
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ArticleDr. Martens shares get a kicking as CEO quits after fifth profits warning
Dr. Martens’ shares slumped by more than a third to record lows and trading in the stock was briefly suspended in London as the UK bootmaker said that its Chief Executive, Kenny Wilson, would step down after issuing a fifth profit warning in three years amid continuing woes in its ...
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ArticleFDRA calls on US president to remove duties on Chinese footwear imports
Matt Priest, the president and CEO of Footwear Distributors & Retailers of America (FDRA), is urging the US president, Joe Biden, to remove by executive order Section 301 import tariffs imposed on China. In an open letter to Biden, Priest wrote that “retail footwear prices have risen sharply since implementation ...
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ArticleFootwear stocks treaded water in a quarter marked by shareholder activism
The prices of stocks monitored by Shoe Intelligence grew by 1.3 percent on average in the first quarter of 2024, compared with the previous three months, in very volatile trade. The quarter was marked by shareholder activism. Tabor Asset Management, a US investment company that has a 1.1 percent stake ...
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ArticleH&M and Inditex accused of allegedly using unethical Brazilian cotton
The British non-governmental organization (NGO) Earthsight is accusing H&M and Inditex of allegedly using cotton “linked to land grabbing, illegal deforestation, violence, human rights violations and corruption in Brazil.” It is also calling on governments to regulate the fashion industry on the grounds that it has failed to ensure sustainability ...
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ArticleAllbirds urged to bolster its share price by Nasdaq
On April 2, Allbirds was notified by Nasdaq that its share price was no longer compliant with the rules of the New York-based stock exchange because the closing bid price of its Class A common stock has fallen below $1.00 per share for 30 consecutive days. Allbirds has 180 calendar ...
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ArticleNovoloop’s pilot plant for recycled plastic comes on stream in India
Novoloop, a US plastic circular economy technology company, announced the startup of its pilot plant in Surat, India. The plant was built in collaboration with Aether Industries, an Indian speciality chemical manufacturer. Groundbreak for the plant was announced in January 2024 and construction completed in March 2024. The pilot plant ...
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ArticleRussia claims to have virtually eradicated illegal footwear sales
Since 2020, the mandatory labelling of fashion goods has secured additional income of 84.6 billion rubles (€848 million) on aggregate for the Russian federal budget, estimated the Russian Center for Prospective Technologies (CPT), a government agency authorized to supervise the labelling reform. Footwear labelling on its own provided additional income ...
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ArticleFormer Kaufhof owner reportedly taking over Galeria Karstadt Kaufhof
According to the German business publication Handelsblatt, the US investor NRDC Equity Partners is to be granted the contract to operate the 92 locations of the German department store chain Galeria Karstadt Kaufhof. NRDC is the investment company of Canadian entrepreneur Richard Baker, who also owns a majority stake in ...
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ArticleLudwig Görtz dies at 89
Ludwig Görtz, the former boss and owner of the footwear retailer Görtz, died on Easter Sunday at the age of 89, according to media reports. The Hamburg native joined his family’s business in 1960, at the age of 26, and took over the management of the company from his ...
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ArticleHyosung to build a bio-BDO factory in Vietnam as part of a $1bn investment plan
Hyosung TNC plans to build a bio-butanediol (BDO) factory in Vietnam with an annual production capacity of 50,000 tons. The project is part of a $1 billion investment program to reach an annual output of 200,000 tons of bio-BDO. On March 30, Hyosung TNC received approval for the “Hyosung BDO ...
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ArticleKeen introduces a hiking shoe with a lifetime guarantee regarding delamination
Keen introduced the Targhee IV, which it claims is the first shoe in the industry to have a delamination-free lifetime guarantee. Targhee IV is “a boot made to be the last hiking shoe you buy,” the US brand said in a statement. Delamination is when the glue used to adhere ...
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ArticleHow Fibbl aims to reduce returns, increase conversion rates with 3D models, AR technology
The Stockholm-based startup Fibbl states that its photorealistic 3D models and augmented reality technology for e-commerce can help footwear brands using its services tackle problems with high returns while also increasing conversion rates. Founded in 2021 by Henrik Arlestig and Johan Bertilsson, two childhood friends with over a decade of ...
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ArticleC-Suite interview: Palmroth plans to double its sales in three years
Palmroth is a family-owned footwear company based in Tampere, Finland, whose history dates back to 1928. Largely centered on winter shoes, the brand aims to double its sales volumes within the next three years. Run by Mikko Palmroth, who represents the third generation at the helm, the company sells annually ...
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ArticleTamaris plans to expand its Russian store network
By the end of 2024, Wortmann plans to add 15 doors to its existing network of 60 Tamaris stores in Russia and take several other steps to gain a better foothold in the country. Friedrich Naumann, CEO of Wortmann Vostok, said that the brand intends to open new stores ...
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ArticleZegna expects negative organic growth in Q1
Ermenegildo Zegna more than doubled its bottom line in 2023 but warned that organic growth will be negative in the first quarter of 2024. Last, the Italian fashion house posted a net profit of €135.7 million in 2023, up by 107.8 percent compared to the year earlier. Adjusted Ebit grew ...
