Latest Headlines – Page 19
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ArticleHotter Shoes’ parent considers bankruptcy as funding crisis deepens
Unbound Group, the owner of British footwear retailer Hotter Shoes, has admitted it is considering going into administration, the U.K.’s form of bankruptcy, unless it can resolve its funding crisis. The company was forced to issue a statement to the London Stock Exchange after media reports suggested it was scrambling ...
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ArticleThe outlook for global footwear consumption improves
The outlook for global footwear consumption has improved significantly, based on the findings of the latest survey of experts published in the current Business Conditions Survey of World Footwear. The members of the panel expect footwear prices to increase by an average of 7.3 percent worldwide and the quantity of ...
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ArticleHow Turkey is rebuilding Antakya’s shoe cluster after the earthquake
Where footwear factories once stood in Antakya, the city in southeastern Turkey devastated by an earthquake in February 2023, name tags and signboards are the only traces left in the flattened and desolate landscape. But 40 kilometers away, in a town called Reyhanlı, Turkish authorities have installed container shelters and ...
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ArticleHow Portugal is planning to spend €120m to boost its footwear industry
Portuguese footwear producers are working on two projects to modernize the country’s industry with critical financing provided by Portugal’s recovery plan. The Agile, Intelligent, Sustainable and Technological Factory (FAIST) and the BioShoes4All projects rely on funds from Portugal’s €16 billion Recovery and Resilience Plan (PRR), part of the European Union’s ...
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ArticleSafeSize beefs up its management team
SafeSize, a retail tech company providing shoe fitting solutions for physical and online stores, has appointed three senior members to its sales and operations team as part of its international push. Bote Galema joins as strategic account director for Northern Europe, Roel van der Wielen as strategic account director for ...
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ArticleThe family office MKCP takes over Bama
Bama, the German supplier of shoe care products and insoles that is part of the Serafin group, has found a new investor. MKCP, a Hamburg-based family office, has taken over the firm and its assets as part of an insolvency procedure, Bama announced. The company applied for self-administration ...
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ArticleJD Sports expands into Middle East through a franchise deal
JD Sports Fashion signed the first franchise agreement for the JD banner with GMG, a Dubai-headquartered company. The partnership will enable the group ”to deliver on the roll out of its ‘JD Brand First’ strategy and is a pivotal move in the continued expansion into underpenetrated markets,” the British ...
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ArticleThe stocks of footwear companies slip led by British firms
The prices of stocks monitored by Shoe Intelligence fell by 7 percent in the second quarter of 2023 compared with the previous three months, when the cohort gained about 5 percent. Shares were driven lower by British constituents of the panel. Some companies were hit by worrisome financial situations, but ...
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ArticleTitan Industries buys Clergerie
On June 29, a Paris-based commercial court approved the takeover of Maison Clergerie by the California-based footwear company Titan Industries. The French maker of luxury footwear was placed into receivership on March 29 after failing to reach an arrangement between shareholders and creditors. Titan Industries is acquiring Clergerie for €700,000 ...
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ArticleCoats launches a new footwear division
Coats, the U.K.-based manufacturer of industrial yarns and structural components for apparel and footwear, has launched a new footwear division following its acquisition of Texon and Rhenoflex in 2022. Following a period of integration, Coats Footwear was launched, offering an expanded range of components and material solutions to footwear and ...
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ArticleAllbirds is giving away the secrets of its net-zero shoe
Allbirds has released the details of its net zero carbon shoe, M0.0NSHOT, and, in a bid to encourage competitors to create their own version, is giving away its entire methodology. M0.0NSHOT, set to launch commercially in spring 2024, is a high-top shoe wrapped in carbon-negative regenerative wool. The midsole features ...
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ArticleC-Suite interview: Autry’s owner looks to cash in on success as it puts the brand up for sale
The owner of the fast-growing sneakers brand Autry is looking to cash in on its success with a sale to a new investor. The private equity Made in Italy Fund, managed by the Italian asset management company Quadrivio and the fashion consultancy Pambianco, acquired a controlling stake in Autry along ...
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ArticleUnbound can’t find a buyer, mulls a capital increase
Shares in Hotter Shoes’ owner Unbound Group plunged after the company said it had taken itself off the market after receiving no buyout offers and was now looking at an equity raising to support a restructuring plan. The shares were down by over 18 percent on the day. “No potential ...
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ArticleJD Sports’ growth slows down in May
JD Sports Fashion said that it benefited from ”further positive trading in all regions” through May with overall growth in organic sales at constant exchange rates up around 8 percent year-on-year. In the first three months of the company’s fiscal year, which ends on Feb. 3, 2024, growth in organic ...
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ArticleExpo Riva Schuh to expand its exhibition surface for the 100th edition
With its 100th edition, scheduled from Jan. 13 to 16, 2024, Expo Riva Schuh & Gardabags will be expanding to include Riva del Garda’s congress center (Centro Congressi) and the adjacent PalaVela facility, which will add on aggregate approximately 3,500 gross net square meters of exhibition space (some 2,000 net ...
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ArticleVans replaces The Vault with OTW by Vans as its new top product category
Vans has unveiled its new top category called OTW by Vans. The VF Corp. brand explains that it is a “new platform where the brand’s most elevated product expressions and brand experiences come together with the innovators of art, design, style, skate culture and entertainment.” As a result, the previous ...
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ArticlePrimark’s Q3 sales up 13%
In the 12 weeks to May 27, corresponding to its third fiscal quarter, Primark’s sales rose by 13 percent at constant currency rates to £1,998 million (€2,327m), with like-for-like sales up by 7 percent, thanks to higher average selling prices. In the first nine months of the fiscal year, revenues ...
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ArticleShein is about to roll out its market place in Germany, Spain, France, Italy
Shein, the Singapore-based fast-fashion online retailer, announced that it is expanding its marketplace to Mexico, and that launches in Germany, Spain, France and Italy “will soon follow suit.” The marketplace was previously rolled out in Brazil and the U.S. Shein noted that the local marketplaces offer products from third parties ...
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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 ...
