Latest Headlines
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ArticleSteve Madden’s Q1 sales lifted by Europe
In the first quarter of 2024, Steve Madden posted a 19.1 percent growth in revenues to $552.4 million. Almost Famous, the business the group bought in October 2023 to expand its apparel business, contributed $41 million in revenues during the quarter. Excluding Almost Famous, revenues rose by 10.3 percent. Steve ...
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ArticleVida Shoes signs a licensing agreement for Merrell, Saucony kids footwear
Wolverine Worldwide has inked two new global licensing deals as part of its strategic evolution into a brand-focused growth entity. Vida Shoes International will take on the role of global licensee for Merrell and Saucony kids footwear under the first agreement. This partnership grants Vida rights to these products across ...
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ArticleRocky Brands' Q1 sales lifted by Durango and Xtratuf
Bolstered by double-digit sales increases for its Durango and Xtratuf footwear brands, Rocky Brands reported a 2.2 percent jump in first-quarter revenues to $112.9 million from $110.4 million. Excluding Servus, a brand divested in March, sales rose by 7.6 percent year-over-year. First-quarter wholesale sales were $79.8 million compared to $80.1 ...
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ArticleUS Q1 footwear sales flat year-on-year
In the first quarter of 2024, sales revenue for the US footwear industry remained unchanged year-over-year at $9.1 billion, while volumes rose by 1 according to Circana. “The footwear market turned a corner in Q1,” said Beth Goldstein, footwear and accessories analyst at Circana. “After four consecutive quarters of ...
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European Chemical Agency apologizes for misleading claims on leather goods
Following the complaint of the European leather and footwear industries, the European Chemical Agency (ECHA) formally apologized for wrongly conveying the impression that leather goods or footwear have possible cancer-causing properties because of the use of chromium VI (Cr VI), the Confederation of National Associations of Tanners and Dressers of ...
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ArticleSkechers raises sales, profit guidance for 2024 as wholesale sales recovery kicks in
Skechers expects its sales will rise to between $8,725 million and $8,875 million in its 2024 financial year, up by 9 to 11 percent compared to the previous year, after wholesale sales posted a recovery in the first quarter and momentum continued in its direct-to-consumer (DTC) business. The guidance is ...
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ArticleMiu Miu x New Balance sneaker ranked hottest fashion item in Q1
The collaboration sneaker between the Italian fashion Miu Miu and New Balance was the first quarter’s “hottest product” in the fashion industry, according to the Lyst Index. Miu Miu, which is owned by Prada Group, also became the hottest fashion brand in the quarter overtaking its sister brand Prada, according ...
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ArticleGörtz moves to new headquarters
The Hamburg-based shoe retailer Görtz is leaving its current headquarters in the Hanseatic city’s Semperhaus on the Spitalerstraße, on the fourth and fifth floors of the historic Kontorhaus district building, and moving to a new, smaller location following a downsizing of its workforce. The new headquarters are located a ...
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ArticleMajo-Schuhe takes over three MyShoes stores
The family-run company Majo-Schuhe has acquired three stores from the footwear retailer MyShoes, a spokesman for the latter’s parent company Deichmann said, according to media reports. The takeover of the stores in Bad Vilbel, Friedrichsdorf and Groß-Gerau, in the Rhine-Main area, secures the jobs of 44 of the employees ...
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ArticleTheo Henkelman Footwear buys Bullboxer trademark rights for Europe
The Dutch footwear group Theo Henkelman Footwear has acquired the trademark rights to Bullboxer in Europe. The move marks the end of months of uncertainty for the Dutch brand, after in February the previous parent company, Unlimited Footwear Group (UFG), filed for bankruptcy. With the acquisition of the ...
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ArticlePrada Group’s sales driven higher by Miu Miu
In the first quarter of 2024, Prada Group’s revenues rose by 11 percent to €1,187 million, driven by the Miu Miu brand and beating market expectations by nearly €50 million. At constant exchange rates, the top line was up by 16 percent. Retail sales totaled €1,071 million, up by 12 ...
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ArticlePrimark’s sales, earnings rise
A strong rise in half-year profits at Primark helped Associated British Foods (ABF), the parent company of the fast-fashion retailer, lift its annual earnings guidance. Primark’s revenues rose by 7.5 percent to £4.5 billion (€5.23bn), while adjusted operating profit – the company’s preferred measure – was 46 percent higher at ...
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ArticleUS regulator moves to block Tapestry’s acquisition of Capri
On April 22, the US Federal Trade Commission (FTC) decided to sue to block Tapestry’s $8.5 billion acquisition of Capri Holdings. However, the companies plan to defend their case in court and to complete the transaction by the end of 2024. “If allowed, the deal would eliminate direct head-to-head competition ...
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ArticleGolden Goose’s revenues rise 11% in Q1
Golden Goose said that in the first quarter of 2024 revenues rose by 11 percent year-over-year on a reported basis and by 12 percent at constant exchange rates, while “maintaining strong margins.” Revenues of the direct-to-consumer channel grew by a reported 18 percent and 20 percent at constant exchange rates, ...
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ArticleJD Sports to buy Hibbett for about $1.1bn
JD Sports has entered into a binding agreement to acquire the Nasdaq-listed retailer Hibbett at $87.50 per share in cash. The bid implies an equity value of $1.083 billion (£878 million) and an enterprise value of $1.109 billion (£899 million). JD Sports expects to fund the transaction, and refinance Hibbett’s ...
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ArticleThe Platform Group posts strong 2023 sales
German e-commerce company The Platform Group (TPG), the owner of online footwear retailer Schuhe24 and other fashion platforms, reported strong full-year results for 2023, with sales and profits on the rise. The company said in a statement that in the 2023 financial year, gross merchandise value (GMV) increased by 19 ...
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ArticleAustrian footwear retail under pressure but Deichmann enjoys steady growth
The Austrian footwear retail sector has undergone a dramatic transformation in recent years, encountering new challenges amid a profound shift in consumer behavior, a survey from the market research company RegioData showed. Since 2014, the number of stores in the country has dropped by a whopping 23 percent as ...
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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 ...
