Latest Headlines – Page 4
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ArticleStyle Capital snaps up Autry, launches retail expansion plan
The Italian private equity group Style Capital has acquired a 50.2 percent stake in Autry International, the owner of the Italian sneakers brand Autry, and announced a retail expansion plan that will see the opening of more than 20 Autry brand stores in luxury shopping destinations in Italy and abroad. ...
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ArticleGiovanna Ceolini confirmed president of Assocalzaturifici
On March 7, the general assembly of Assocalzaturifici confirmed Giovanna Ceolini as the president of the Italian association of footwear manufacturers until June 2027. Her mandate will focus on sustainability, digitalization, innovation, the promotion of local production, the so-called Made in Italy, enhancing the role of subcontractors and developing training, ...
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ArticleGenesco sees sales decline continuing as Journeys turnaround takes time
Genesco expects another decline in sales this year, after revenues in the year ended Feb. 3 fell by 2.5 percent to $2.3 billion, landing in the middle of its latest guidance of a 2-3 percent drop. The company expects total sales in the current financial year to fall by 2 ...
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ArticleInforma hikes its 2024 guidance
Informa is enjoying “strong” trading in the first quarter of 2024 and forward visibility, prompting it to increase its guidance for 2024. It noted that more than £500 million (€587m) of revenues were already delivered in 2024, with a further £1 billion (€1.2bn) in subscriptions and other forward booked revenues ...
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ArticleCoats sees recovery in footwear as customer destocking winds down
Coats expects modest revenue growth in 2024 as its markets started to recover in the second half of last year, helping it to deliver higher 2023 profits. The British group, which makes threads and components for the footwear and clothing industries, said destocking of inventories by footwear customers had lagged ...
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ArticlePrada posts strong fourth-quarter results
Prada Group finished 2023 on a strong note with its top line growing by 18.1 percent year-over-year at constant currency rates and retail sales up by 17.4 percent in the fourth quarter. “In addition to Prada’s solid momentum, Miu Miu ended an amazing year with remarkable growth,” pointed out the ...
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ArticleFrance’s proposal against fast fashion
The administration of French President Emmanuel Macron, founder of the Renaissance party, will support a law proposed by an opposition party to penalize fast fashion. The text in question is no. 2268, “aiming to render fast-fashion out of fashion, thanks to a system of incentives and penalties.” Its proponent is ...
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ArticleFormer Görtz CEO Frank Revermann takes over Onygo
Görtz’s former CEO Frank Revermann took over Deichmann’s sneaker and streetwear subsidiary Onygo, said the former parent company confirming media reports. At the beginning of October, Deichmann announced that Onygo would cease operations by August 2024 at the latest, citing major structural changes in the fashion retail sector, exacerbated ...
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ArticleFerragamo’s full-year profits shrink on weaker sales, higher investments
Salvatore Ferragamo’s full-year net profit plummeted by 59 percent to €26 million as total revenues fell by a reported 7.6 percent, and 8.1 percent in local currencies, to €1,157 million, with all categories, channels and regions, except the Europe, Middle East and Africa (EMEA) area, lower. The company had already ...
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ArticleFootwear sales rose by 4% in 2023 in Germany while 15% of stores closed
Footwear retail sales in Germany increased in 2023 by approximately 4 percent, or €480 million, to €11.6 billion (including VAT), despite a few spectacular bankruptcies, estimates from the country’s textile, shoes and leather goods trade association, BTE, showed. The figure includes brick-and-mortar shoe stores (€6.8 billion), online sales (€2.7 ...
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ArticleGrendene’s Q4 bottom line underpinned by lower raw material costs
Grendene realized 13 percent year-over-year Ebitda growth to 168.2 million Brazilian reais (€31.3m) in the fourth quarter of 2023, while the net profit grew by 20 percent higher to R$243.0 million (€45.2m) as lower raw material costs offset weak sales. Fourth-quarter net revenues slipped by 0.4 percent to R$760.8 million ...
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ArticleC-Suite interview: Sioux sees light at the end of the tunnel in the German footwear market
Despite overtaking Japan to become the world’s third largest economy, Germany is a matter of concern for many observers due to its weak economy and depressed consumer confidence. In a comprehensive interview with Shoe Intelligence, Lewin Berner, the CEO of the German footwear company Sioux outlines his view about the ...
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ArticleSpanish footwear exports rose in value but slipped in volumes in 2023
Spanish footwear exports totaled €3,260 million in 2023, up by 6.6 percent compared to the previous year when exports breached the €3 billion threshold for the first time. In 2022, exports rose by 22 percent to €3,056 million, according to data released by Fice, the Spanish footwear association. However, in ...
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ArticleBrazilian brands generate $31.7m in business at Micam
Brazilian brands generated $31.7 million in business, through on-site and pre-arranged deals at Micam, the footwear fair which ran from Feb. 18 to 21 at the Fieramilano Rho exhibition center at the outskirts of Milan. The event focused on the autumn/winter 2024-2025 season. The Brazilian delegation, which comprised 76 brands, ...
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ArticleBirkenstock reassures investors on profits, makes progress in closed-toe shoe sales
Birkenstock reassured investors that the pressure on profits from its ongoing production capacity investments is only temporary and will set the stage for future expansion. The company confirmed its guidance for top-line growth of 17-18 percent at constant foreign exchange rates in the current fiscal year. Sales in the first ...
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ArticleRocky Brands’ Q4 sales fall 9.3% amid unexpected headwinds
Rocky Brands reported sales of $126.0 million in the fourth quarter of 2023, down by 9.3 percent compared to the year earlier but still an improvement on the previous quarter and the slowest rate of sales decline for the year. Sales were down by 6 percent when service brand sales, ...
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ArticleKlingel sells the Wenz and Impressionen brands to Witt
The insolvent mail order company Klingel Group has sold the Wenz and Impressionen brands to the omni-channel retailer Witt, which is part of the Hamburg-based Otto Group, as it continues the disposal of its assets. The sale was approved by the creditors’ committee and the parties now wait for ...
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ArticleSteve Madden’s Q4 results beat expectations
In the fourth quarter of 2023, Steve Madden’s revenues and bottom line come in above the group’s expectations. Quarterly sales increased by 10.4 percent year-on-year to $519.7 million, while the gross profit margin slipped to 41.3 percent from 42.2 percent. The adjusted gross profit margin was 41.7 percent. The turnover ...
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ArticleAldo to produce bags under the Hunter brand
Aldo Group has entered into another licensing agreement with Authentic Brands Broup (ABG). Under the deal, the Canadian footwear company will take on the design, production and distribution of bags and small leather goods for men and women in the US and Canada. Hunter’s bag collection will launch for the ...
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ArticleGerman shoemakers expect a challenging 2024
The German footwear and leather goods industry is facing “a challenging 2024” but a turnaround is possible towards the end of the year, according to Manfred Junkert, the general manager of the German footwear and leather goods trade association, HDS/L. “In spite of manufacturers having considerable resilience and creativity, a ...
