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    Companies must be sincere in promoting sustainability or risk a backlash

    2021-11-29T08:38:00Z

    With consumers demanding more sustainable and equitable products and being increasingly aware of corporate greenwashing, footwear brands must be authentic in marketing sustainable goods. Otherwise their communication strategy may backfire, trend forecasting company WGSN warned during a couple of webinars organized by the Italian trade fair Expo Riva Schuh. Greenwashing ...

  • CCC
    Article

    ​CCC Group plans to triple sales by 2025

    2021-11-29T08:37:00Z

    The Polish footwear and apparel retailer CCC Group plans to triple revenues to over 20 billion zloty (€4.2bn-$4.8bn) in 2025 largely thanks to the development of its online business and of its newly launched off-price banner HalfPrice, as well as an increased presence in apparel and accessories. The share of ...

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    Article

    Footwear sales volumes, prices expected to rise in the coming months

    2021-11-26T14:00:00Z

    The volume of footwear and the prices of shoes are expected to increase over the next six months, according to a survey of experts published in the latest Business Condition Survey of World Footwear done in collaboration with Shoe Intelligence. Despite the improvement in the outlook, the panel expects that ...

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    Article

    Shelving IPO plans, ABG brings in two new investors

    2021-11-23T10:11:00Z

    Placing on hold its plans to go public, as previously announced in July, the Authentic Brands Group (ABG) has decided to stay private. Instead of going for an IPO at this stage, some existing shareholders will sell significant stakes in ABG to funds advised by the private equity company CVC ...

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    Article

    Emerging designer: Umòja starts delivering its plant-based sneaker

    2021-11-23T07:53:00Z

    Umòja, a Franco-African startup, has began delivering its newly created plant-based sneaker. The company, which is based in Brest, France, is a hand-made sneaker brand that combines tradition, modernity, and innovation while valorizing West African textile craftsmanship. Founded in 2018, the company, whose name means “unity” and “creating a link” ...

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    Article

    Shoe Carnival to resume increasing store network in 2022

    2021-11-22T11:52:00Z

    With the release of its best quarterly results in its 43-year history, Shoe Carnival announced plans to accelerate the refurbishing of its stores and to resume increasing the network from 2022. Ultimately, the U.S. footwear retailer wants to become a “multibillion-dollar” corporation in “the years ahead.” In the current full ...

  • Farfetch
    Article

    ​Farfetch’s Q3, outlook disappoint

    2021-11-22T11:51:00Z

    Farfetch posted results below expectations in the third quarter and cut its full-year guidance prompting its share price to fall by nearly 14 percent on the day. The British online fashion retailer posted a 28 percent year-on-year increase in gross merchandise value (GMV) to $1.017billion. GMV generated by the digital ...

  • Caleres
    Article

    Caleres raises earnings outlook as Famous Footwear shows ‘exceptional upward momentum’

    2021-11-22T11:00:00Z

    Caleres raised its earnings guidance for its full financial year, after reporting a record bottom line in the third quarter ended Oct. 30 as the Famous Footwear retail chain saw “continued, exceptional upward momentum” and recovery at the Brand Portfolio business progressed despite headwinds from higher freight costs. Caleres reported ...

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    Article

    Alibaba cuts 2022 guidance after Q2 earning, revenue miss

    2021-11-19T15:16:00Z

    Alibaba cut its guidance for the full year after revenues and earnings in its second quarter ended Sept. 30 came in below expectations amid a slowdown in economic growth in China and an ongoing regulatory crackdown on tech companies in the country. Alibaba now expects revenues to grow between 20 ...

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    Article

    Brazilian exports surge in October

    2021-11-18T08:45:00Z

    In the first 10 months of 2021, Brazilian footwear exports rose by 32.2 percent year-over-year in volume to 99.07 million pairs and by 30.7 percent in value to $712.4 million, according to data released by the trade association Abicalçados. When compared with the first 10 months of 2019, exports grew ...

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    Article

    EU proposes new rules to fight deforestation, promote circular economy

    2021-11-17T17:11:00Z

    The European Commission has adopted three new initiatives proposing rules to curb deforestation, to facilitate intra-EU waste shipments to promote circular economy and tackle the export of waste to third countries. From 1990 to 2020 the world has lost 420 million hectares of forest, an area larger than the European ...

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    Article

    Global personal luxury goods sales up 29% in 2021

    2021-11-16T17:42:00Z

    The global personal luxury goods industry is forecast to grow by 29 percent at current exchange rates to €283 billion this year, according to a survey released by the consultancy Bain & Company in collaboration with Fondazione Altagamma, the Italian luxury goods manufacturers’ industry foundation. Compared with 2019, the market ...

  • Article

    Manolo Blahnik launches virtual museum

    2021-11-16T17:19:00Z

    Half a century after opening his first boutique in Old Church Street, in Chelsea, London, Spanish footwear designer Manolo Blahnik is making the concepts behind his legendary stilettos, sandals, moccasins and boots available to anyone, anywhere, via his brand-new, technologically state-of-the-art virtual museum, which launches on Nov. 18, 2021. Conceived ...

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    Kurt Geiger extends financing facilities to 2024

    2021-11-16T17:19:00Z

    On June 10, Kurt Geiger extended the terms of its bank loan, capital investment and revolving facilities to Feb. 19, 2024, according to the company’s financial statements filed with the British registrar of companies, Companies House. As part of the arrangement, covenants were rebased to take into account the impact ...

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    Nike under suspicion of greenwashing in German media

    2021-11-15T14:36:00Z

    In a broad investigative joint journalistic effort, several German media have chased down returned Nike footwear (used and new) that had been tagged with GPS trackers and went into a recycling plant in Herenthout, Belgium, to be destroyed and recycled into the “Grind” material that Nike uses for gym floors, ...

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    Article

    OR Group sets up a logistics unit

    2021-11-15T08:33:00Z

    OR Group, which operates the Westfalika banner, has launched a new subsidiary company to develop logistics services, which will primarily involve opening new pick-up points. The logistics company called O2 LLC will be fully owned by the group’s parent company ORG PJSC. OR Group, formerly known as Obuv Rossii, started ...

  • Stuart Weitzman
    Article

    Stuart Weitzman improves profitability in Q1

    2021-11-15T07:58:00Z

    Stuart Weitzman, the footwear brand of the U.S. fashion group Tapestry, enjoyed an improved operating margin in the first quarter ended Oct. 2, boosting its confidence of returning to profitability in the current fiscal year. In the quarter, Stuart Weitzman increased sales by 18 percent year-over-year to $66.5 million. At ...

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    Article

    Yue Yuen’s growth stopped in Q3

    2021-11-15T07:58:00Z

    Yue Yuen reported a 3.2 percent increase in revenues from footwear manufacturing for the first nine months of 2021 on roughly flat deliveries of 179.0 million pairs. Revenues went up to $3,301 million because of an increase in the average price of 3.1 percent to $18.43 per pair, thanks to ...

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    Article

    Geox starts Q4 with 50% rise in like-for-like DOS sales, prepares new business plan

    2021-11-12T17:42:00Z

    Geox has posted an increase in like-for-like sales at directly-operated stores (DOS) of about 50 percent so far in the fourth quarter, bringing them 3 percent above the comparable period in 2019 at week 44 in its fiscal year and continuing with a recovery underway in this channel since the ...