Latest Headlines – Page 3
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ArticleDeichmann continues to grow in 2023
Deichmann continued to grow in 2023 despite difficult business conditions, especially in its home market. The German footwear retailer, which is present in 34 countries, generated gross revenues of €8.7 billion, or a net €7.4 billion, in 2023, up by just over 7 percent on a currency-adjusted basis. Like-for-like sales, ...
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ArticleGabor’s sales are steady
The German shoe manufacturer Gabor Shoes reported steady sales in the fiscal year 2023 after a sharp rebound in 2022 and announced a management reorganization. The company, based in Rosenheim, in Upper Bavaria, said that total sales of all brands including licenses reached €322 million last year, less than 1 ...
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ArticleKazakhstan sees a rise in footwear imports as local production remains low
Kazakh footwear manufacturers only covered a tiny part of domestic demand, and their market share is shrinking, a recent research showed. In 2023, Kazakh footwear companies manufactured 1.8 million pairs of shoes, up by 3.6 percent compared with the previous year, according to the Bureau of National Statistics. But last ...
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ArticleShoepassion’s creditors clear its restructuring plan
Shoepassion’s creditors have cleared its restructuring plan, the insolvent Berlin-based footwear company said. The plan was confirmed by the Berlin-Charlottenburg district court. The omnichannel company started insolvency proceedings under self-administration on March 6 last year, joining a host of footwear companies swept away by a tidal wave of bankruptcies ...
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ArticleHeydude is the hottest casual footwear brand in the US - Brand Heat Index
Heydude is the hottest casual footwear brand, both among men and women in the US, while Allbirds fell out of the top 10 both for men and women, according to the 2024 U.S. Footwear and Apparel Brand Heat Index released by L.E.K. Consulting. “In 2024, competition in the footwear space ...
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ArticleYue Yuen’s profit, sales slip in 2023
Yue Yuen, the globe’s largest manufacturer of footwear, suffered a down year in 2023 due to inventory de-stocking by retailers worldwide and conservative ordering by its portfolio of brand clients that include Nike, Adidas, Asics and New Balance, among others. Yue Yuen’s annual Ebit declined by 5.6 percent to $390.2 ...
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ArticleZalando aims to resume growth and cover 15% of the European fashion market
Zalando posted lower sales in 2023 but expects to at least stabilize revenues this year and resume growth from 2025. The German online fashion group also outlined its long-term plans to cover 15 percent of the European fashion market. In 2023, the gross merchandise volume (GMV) decreased by 1.1 percent ...
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ArticleInditex posts record full-year sales and earnings
Inditex posted record sales and earnings in the full year ended Jan. 31 and announced an extraordinary plan to invest €1.8 billion over the next two years to increase its logistics capacities. Full-year sales rose by 10.4 percent to €35.9 billion. The top line grew by 14.1 percent at constant ...
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ArticleAllbirds names a new CEO as losses continue to grow
Allbirds appointed its chief operating officer, Joe Vernachio, as its new CEO and member of the board of directors, effective March 15. He succeeds Joey Zwillinger, the co-founder and CEO, who will continue to serve as a member of the board and as a special advisor to the company. With ...
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ArticleHow returns can be an opportunity to boost sales
Returns represent a significant cost for online retailers and a scourge for the environment. In the US alone, e-commerce customers returned 17 percent of goods for a total value of $816 billion (€754bn) in 2022, according to the National Retail Federation. The figure is even higher in the EU, where ...
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ArticleRussian footwear brands adapt their product range to better suit online marketplaces
As e-commerce consolidates its dominance in the Russian footwear market, brands are looking into opportunities to improve their positioning in this segment. In 2023, one of the key trends on the Russian market of fashion goods was that brands were designing new collections specially for online marketplaces, according to a ...
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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 ...
