Latest Headlines – Page 18
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Shein calls for review of U.S. “de minimis” trade rule in a move to stem criticism
Shein, the Singapore-based online fashion retailer, has proposed to work with the U.S. retail industry in order to jointly propose a new framework for Section 321 of the Tariff Act of 1930, known as the “de minimis” exemption. The company said that in a letter sent to the American Apparel ...
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Authentic Brands Group takes over Rockport
Authentic Brands Group (ABG) is taking over the troubled U.S. footwear firm The Rockport Company, following a decision by the United States Bankruptcy Court for the District of Delaware, and will rely on Marc Fisher Footwear to develop the brand in the United States. Further partnerships for Rockport are expected ...
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Footway applies for voluntary company reorganization due to ‘acute’ liquidity situation
Footway Group, a Swedish operator of specialized online stores, has applied for voluntary company reorganization. According to the company, the decision is based on “the very challenging conditions that the sports retail industry in Sweden and Norway has faced in recent months,” which have led to an “acute” liquidity situation. ...
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Richemont buys controlling stake in Gianvito Rossi
Richemont has acquired a controlling stake in Gianvito Rossi, an Italian luxury shoemaker. No financial details were released. Gianvito Rossi, the founder, CEO and creative director of the eponymous brand, will retain a stake in the company and continue to “nurture and develop” the brand in partnership with Richemont, the ...
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Concern about a slowdown at Heydude weighs on Crocs
Crocs Inc. generated more than $1 billion in second-quarter revenues on 12 percent constant-currency growth. The company increased its annual revenue guidance on to surpass the $4 billion mark, but the company’s share price plummeted 14 percent on the day on worries that the group’s pace of revenue growth, particularly ...
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Hoka paces Deckers in Q1, company lifts FY guidance
Deckers Brands, intent on growing both its direct-to-consumer and international businesses in the months ahead, generated a 42 percent increase in net income to $63.6 million in the first quarter ended June 30 versus $44.8 million a year earlier. Operating income was 26 percent higher year-over-year at $70.7 million. ...
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Tod’s’ H1 sales rise 21.7%, Ebit expected to double
Tod’s released preliminary sales data for the first half of 2023 that come in at €569.1 million, up by 21.7 percent year-on-year on a reported basis and by 22.8 percent at constant currency rates. The figure was in line with market expectations. Financial analysts expect that the Italian fashion house ...
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Prada’s footwear sales rise 20% in H1
In the first half of 2023, footwear sales for the Prada group in the retail channel rose by 20 percent at constant currency rates to €374 million. Shoes represented 19 percent of the group’s quarterly retail sales. The group posted growth in all footwear collections: lifestyle, sneakers and formal. Growth ...
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Görtz’s insolvency proceedings are over, CK Technology is the new owner
A long period of uncertainty may have come to an end for the Hamburg-based shoe retailer Görtz with the completion of insolvency proceedings and a new owner. According to the Frankfurter Allgemeine Zeitung newspaper, the district court of Hamburg has declared that all proceedings were over, with all debts registered ...
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C-Suite interview: Pablosky ready to leave the beaten track to explore new markets
Even though Spain remains its main market, Pablosky, a Spanish company specialized in children’s shoes, has been very active over the past decades at developing its international reach. And in doing so, it often abandoned the beaten track to explore new geographies. The company, which was founded in 1969, first ...
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Global footwear market seen growing nearly 6% annually to 2027
The size of the global footwear market is set to grow by $133.09 billion from 2022 to 2027 and register a compound annual growth rate (CAGR) of 5.69 percent, according the estimates in Technavio’s latest market research report. The market is forecast to grow by 4.73 percent in 2023 and ...
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French footwear manufacturing revenues rise 10% in 2022
Revenues for French footwear manufacturers rose by 10 percent to €651 million in 2022 from €590 million in 2021, according to the trade association Conseil National du Cuir. In volume, footwear production rose by 0.4 million pairs to 15.2 million last year from 14.8 million in 2021. The manufacturing industry ...
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The Brazilian trade show BFShow to hold its first edition Nov. 21-23
Brazilian Footwear Show-BFShow, promoted by the Brazilian footwear association Abicalçados in partnership with NürnbergMesse Brasil, will hold its first edition on Nov. 21-23 in Porto Alegre at the FIERGS exhibition center. The trade fair also has the support of the Brazilian export and investment promotion agency Apex Brasil and of ...
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Hotter Shoes rescued by WoolOvers in £6.7m sale
Hotter Shoes has been rescued from collapse by the natural knitwear brand WoolOvers, in a pre-pack administration deal worth £6.7million (€7.7m). WoolOvers had approached Unbound Group, the parent company of the British footwear retailer, in March with an initial bid valuing the group £6.8 million but the proposal was rejected ...
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Stella Q2 sales momentum improves in Q2
Stella International, the Hong-Kong based footwear manufacturer and retailer, said that in the second quarter of 2023 it posted a 3.1 percent decline in manufacturing revenues to $419.5 million from $432.8 million as footwear shipments dropped by 6.7 percent to 14.0 million pairs from 15.0 million a year earlier. The ...
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Unbound appoints administators to sell Beaconsfield Footwear
Unbound Group, the owner of British footwear retailer Hotter Shoes, said that it has decided to appoint administrators for its main operating subsidiary, Beaconsfield Footwear Limited, after having failed to find a buyer for the business or to raise fresh cash to restructure it. The appointment of the administrators is ...
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U.S. footwear imports to plunge in 2023 due to bloated inventories
U.S. footwear imports are likely to plummet to below 2.0 billion pairs this year after a nearly 30 percent growth in 2022 to nearly 2.75 billion pairs, according to data from the U.S. International Trade Commission and a forecast from the The Footwear Distributors & Retailers of America (FDRA). Correspondingly, ...
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Footway launches a capital hike as its liquidity is under pressure
Footway announced a SEK100 million (€8.7m) capital increase and a reduction of its inventory as its liquidity “is under pressure” due to tighter credit terms from suppliers in an ”already weak market.” On July 14, Swedish e-commerce company had a market capitalization of SEK 825 million (€72m). During the first ...
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Italian shoemakers increase Q1 revenues by 13.6%
Italian shoemakers increased their revenues by an estimated 13.6 percent year-over-year in the first quarter of 2023, according to a survey carried out by Confindustria Moda’s research center among members of the Italian footwear association Assocalzaturifici. The survey showed that 53 percent of companies enjoyed an increase in revenues during ...
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The French brand Heschung is taken over
The French footwear company Heschung is being taken over by PPL Finance following a court ruling issued on July 5. On April 11, the nine stores of the Alsace-based brand had been placed into receivership while a liquidation process was launched for the production site situated in Steinbourg, about 40 ...