Latest Headlines
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ArticleTencel launches e-commerce platform
The Lenzing group’s Tencel textile brand has launched the Tencel eShop. This first e-commerce site from a sustainable fiber manufacturer “bridges the divide between manufacturers and the end-consumer by curating a diverse mix of apparel and home goods made of Tencel branded fibers,“ the company said. The debut ...
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Expo Riva Schuh rescheduled to July 18-20
The 95th edition of Expo Riva Schuh and the 6th edition of Gardabags have been pushed back to July 18-20 “to enable the workers in this sector to get back together in person and in total safety.” The summer editions of the joint footwear and handbag trade shows, ...
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LVMH, Prada and Cartier launch a blockchain for luxury goods
LVMH, Prada and Cartier , a unit of the Swiss luxury goods group Richemont , have joined forces to develop the Aura Blockchain Consortium , a global luxury blockchain. LVMH said that the collaboration “between competitors represents a single, innovative solution to shared challenges of communicating information ...
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Birkenstock assigned a ‘B’ rating by S&P
The rating agency S P Global assigned a ‘B’ rating with a stable outlook to BK LC Lux Finco 1 Sàrl , the parent company of Birkenstock . The rating comes after the private equity firm L Catterton and its affiliates, including Financière Agache , the investment ...
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Sequential Brands cannot comply with its covenants
Sequential Brands , a U.S. group that has a portfolio of consumer brands including Heelys , Avia and DVS , said that it is not expected to be able to comply over the next twelve months with certain of its financial covenants. It noted that if it fails ...
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Texon presents “ground-breaking” ProWeave technology
Texon presented ProWeave , a “ground-breaking” jacquard weaving technology which it claims makes it possible to seamlessly integrate functional and design weaving into a single sheet of material. It commented that ProWeave opens up “infinite new design possibilities” by enabling the production of continuous woven substrates with the ...
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Aktiv Schuh’s restructuring plan is approved by creditors
Less than nine months after Aktiv Schuh filed for bankruptcy, creditors unanimously approved its restructuring plan. As the Berlin-based company’s reorganization is about to be completed, Aktiv Schuh - a 120-year-old family business that employs around 200 people - expects self-administration proceedings to be lifted this month. On ...
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Online sales exceed €100 billion in German-speaking countries
In 2020, the outbreak of the coronavirus pandemic led revenues from e-commerce to exceed the €100 billion threshold for the first time in the German-speaking countries of Germany, Austria and Switzerland, according to BEVH , the German E-Commerce and Distance Selling Trade Association. Orders averaging €1,000 were placed by customers ...
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Top footwear brands gain 9% in value
Footwear is the only subsector of the Brand Finance Apparel 50 2021 survey to increase in brand value year-on-year, posting a 9 percent increase on average to $5.0 billion. New entrants in the ranking, Timberland and Converse, recorded 47 percent and 8 percent increases in brand value ...
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Most consumers have changed shopping habits with the pandemic
In its latest Fast-Moving Consumer Goods ( FMCG ) Report 2021 , London-based data and analysis company YouGov surveyed more than 19,000 consumers in 17 markets worldwide to find out about their shopping behavior. The study reveals differences between the various markets, but also similarities. A 59 percent ...
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Bavaria enforces a lockdown, England re-opens
While Bavarian shoe stores were forced to close down again as of April 12, all types of non-essential retailers, including shoe stores, were allowed to re-open in England and Wales. The British Retail Consortium has estimated that non-food stores have lost some £27 billion (€31bn-$37bn) in sales from ...
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Activist shareholder seeks to take control of Genesco’s board
Legion Partners Asset Management , which owns 5.6 percent of Genesco ’s capital, is seeking to take control of the eight-member board of the American footwear firm with the intention of boosting the company’s earnings and share performance. Legion is proposing the election of seven nominees - Marjorie Bowen ...
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Kering unveils new logistics hub in Italy
Kering has presented its new logistics hub located in Trecate, about 50 kilometers west of Milan in the province of Novara, and managed by XPO Logistics . The French luxury goods group said that it was its largest investment in Italy but without indicating the amount. The site ...
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Stocks of U.S. footwear companies rebound sharply in Q1
The shares of the American footwear companies rebounded sharply in the first quarter of 2021 as the sector recovers from the market turbulence caused last year by the Covid-19 pandemic. American footwear companies are benefiting, like the rest of the equity market, from cheap and abundant money provided by ...
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Spanish footwear manufacturers seek to avoid U.S. tariff
The Spanish footwear association Fice is seeking to fend off a possible 25 percent tariff imposed by the U.S. on Spanish footwear. The trade organization said that it held a meeting on April 8 with Juan Martínez , the general director of Spain’s trade policy, to express “the enormous ...
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Valentino Shoes Lab to resume production in May after fire
Valentino Shoes Lab is scheduled to resume production on May 3 after its manufacturing unit located in the industrial estate of Bucine, Tuscany, was 90 percent destroyed in a fire during the night between April 1 and 2. Production will be distributed over several sites as the reconstruction ...
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Italian tanners warn about the rising cost of raw materials
The Italian tanners’ association, Unic , is warning about the “destabilizing” impact of a sharp increase in the price of raw materials. In recent weeks, the cost of raw hides and skins has increased in “a generalized and almost unreasonable way” while tanneries face a sharp decrease in demand, ...
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Vietnam sees 2021 leather and footwear exports reaching $20 billion
Vietnam’s Leather, Footwear and Handbag Association (Lefaso) expects its industry to achieve exports of more than $20 billion this year after suffering from a decline last year due to the impact of the Covid-19 pandemic on supply chains, consumption and trade. Last year, Vietnam’s export turnover of footwear ...
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German consumers are ready to spend more, despite the lockdowns
German consumers are known to be keen on saving money when there is an economic crisis. Faced with what they call the “Corona crisis,” they have saved an estimated €230 billion since March 2020, when the crisis began, but they are said to be eager to spend more again once ...
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VF’s new fulfillment center in the U.K. begins operations
VF Corp. , through its local subsidiary VF Northern Europe Limited , has begun operations at its new fulfillment center in Bardon, Leicestershire, which will employ about 250 people at peak times. The new 55,800-square-meter center will have “state-of-the-art automation capabilities putting it at the forefront of the footwear ...
