Latest Headlines – Page 20
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ArticleEcco’s 2022 sales rise by 30% to €1,586m but earnings remain below pre-Covid levels
In 2022, Ecco’s revenues rose by 30 percent to €1,586 million from €1,218 million a year earlier and exceeded a pre-Covid-19 turnover of €1,360 million posted in 2019. Comparable sales were up by 18 percent. In January 2022, the Danish footwear and leather group acquired a controlling interest in Ecco ...
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ArticleAuthentic Brands Group emerges as ‘stalking horse’ for Rockport
Affiliates of Authentic Brands Group, ABG-Regatta LLC and ABG Intermediate Holdings, have emerged as the ‘stalking horse’ bidder for The Rockport Company, agreeing to pay $40.4 million for the bankrupt firm’s intellectual property, $5 million for its Korean subsidiary and additional, yet-to-be-determined amounts for inventory. The closing cash purchase price ...
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ArticleExpo Riva Schuh attracts 9,000 visitors
The Expo Riva Schuh & Gardabags trade show organized from June 17 to 20 in the Italian town of Riva del Garda attracted nearly 9,000 visitors, up by 12.5 percent compared with the edition held in June 2022, according to the organizers Riva del Garda Fierecongressi. About 80 percent of ...
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ArticleVF names a new CEO
VF Corporation, the U.S. owner of leading brands such as Vans, Timberland and The North Face, said that its board has appointed Bracken Darrell as president and chief executive officer, effective July 17. Darrell joins VF from Logitech International, a Swiss computer peripherals and software maker, where he has served ...
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ArticleAlibaba’s chairman and CEO resigns to focus on Alibaba Cloud
Daniel Zhang has unexpectedly resigned as chairman and CEO of Alibaba Group. He has served as CEO for the past eight years and as chairman for the past four years. The successors for the two vacant positions have already been determined: Joseph C. Tsai, currently executive vice chairman, will succeed ...
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ArticleWhite Mountain expands into footwear for girls
The U.S. footwear brand White Mountain is expanding into footwear for girls. The brand noted that following its acquisition by American Exchange Group in January 2023, it “has quickly ventured into several exciting and diverse product categories, marking a significant departure from their exclusive focus on women’s footwear for the ...
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ArticleApparel Group to open more than 20 Clarks stores in Saudi Arabia in 5 yrs
Apparel Group, a global fashion and lifestyle conglomerate based in Dubai, has entered a strategic partnership with Clarks. The alliance aims to expand the retail footprint of the British footwear brand across Saudi Arabia, with plans to open more than 20 stores over the next five years. “The expansion plan ...
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ArticleIndia to introduce new quality standards for footwear from July 1
The Indian government has decided to go ahead with plans to introduce from July 1 new mandatory quality standards for footwear. However, companies with annual revenues of less than 500 million rupee will only have to adapt from Jan. 1, 2024, while shoemakers with annual sales of less than INR ...
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ArticleRockport files for bankruptcy again
Forty years after introducing DresSports, considered the first classic dress shoe with a rubber sole, The Rockport Company filed for Chapter 11 bankruptcy protection on June 15 for the second time in five years. The petition lists some $99.71 million in funded debt obligations and more than $63.1 million ...
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ArticleAsos returns to profitability and Frasers Group lifts its stake
Asos, the struggling British online fashion retailer, returned to profitability in the third quarter and said its turnaround strategy was starting to bear fruit, prompting Frasers Group to lift its stake in the company to 10.6 percent. Adjusted Ebit rose more than £20 million (€23.3m) in the three months to ...
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ArticleFree Webinar: Overcoming wholesale challenges with B2B e-commerce technology
Join Elastic Suite and Active Brands for our next EDM Expert Talk, to discuss how technology can help leading enterprises and industry disruptors overcome challenges in today’s wholesale environment. Technology enables B2B commerce to go from transactional to transformational, bringing shared success to brands, distributors, retailers and the end consumer.
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ArticleM&S adds Skechers, Crocs and Toms to its online platform
The British retailer Marks & Spencer (M&S) is adding the footwear brands Skechers, Crocs and Toms to its Brands at M&S online platform as part of an effort to boost sales during the summer period. Richard Price, managing director of Clothing & Home at M&S noted that the retailer’s ”footwear ...
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ArticleThe U.S. wholesale channel is Skechers’ most challenged marketplace
Currently, the U.S. wholesale market is probably the “single most challenged marketplace” for Skechers, while India is one of its most “exciting” markets. The company continues to see “robust” consumer demand in Europe, while China continues to offer “ample opportunity” to grow, explained John Vandemore, Skechers’ chief financial officer, during ...
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ArticleC-Suite interview: On-demand production is key to Alohas’ success
Alohas’ revenues surged from €100,000 in 2015 to over €27 million in 2022, an extraordinary growth rate that has transformed in a few years a Catalan startup producing summer shoes into an international brand. The company made the quantum leap during the Covid-19 pandemic, when most of the footwear industry ...
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ArticleDesigner Brands to resume selling Nike in Q4
Designer Brands unexpectedly announced that it will resume selling Nike shoes from the fourth quarter of this year, as the U.S. sportwear brand reverses its policy of dropping wholesale clients to focus on direct-to-consumer channels. Earlier, on June 1, Macy’s announced that it would be selling Nike apparel from October, ...
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ArticleInditex’s Q1 sales rise 13%
Inditex, the Spanish group that owns the brands Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius and Oysho, said that in the first quarter ended April 30 sales reached €7.6 billion, up by 13 percent year-over-year on a reported basis and grew 15 percent in constant currencies. Gross profit rose by 14 ...
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ArticleGörtz may have found a new investor after the Wangenheims back down
The troubled Hamburg-based shoe retailer Görtz has reportedly found a new investor, potentially bringing a long period of uncertainty to an end. After an eventful year, marked by a capital injection from the German government, a sweeping reorganization effort, a pandemic-driven bankruptcy, a tentative deal with new investors and their ...
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ArticleDr. Martens warns of declining margins in the current fiscal year
Shares in Dr. Martens nosedived as the British bootmaker warned that operating margins for the full year ending in March 2024 could be lower than in the previous 12 months because of extra costs stemming from blunders at its Los Angeles distribution center. Current full-year Ebitda margins are expected to ...
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ArticleCaleres launches a cost-savings program as business softens
Caleres is the latest of string of footwear companies announcing weaker-than-expected sales because of a “challenging” U.S. retailing environment. To maintain its adjusted earnings guidance for the full year, the group launched a cost-saving program. In the first quarter ended April 29, net sales were down by 9.8 percent year-over-year ...
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ArticleList prices for sneakers up 6.5% this year in U.S.
The average list price of sneakers in the U.S. at least seems to be higher than ever. What is certain, according to the latest edition of the USA Sneaker Market Index, is that said average list price has reached its highest point since the start of 2020, rising 14 percent. ...
