Latest Headlines – Page 5
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ArticleSergio Rossi posts a decline in FY revenues due to a weak H2
Sergio Rossi, the Italian shoemaker owned by the Chinese luxury goods firm Lanvin Group, finished 2023 with a 4 percent decline in revenues to €60 million after suffering a 24 percent drop in the top line to €27 million during the second half of the year. During the first six ...
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ArticleCCC Group posts record Q4 sales as margins rise sharply
CCC Group generated revenues of 2.5 billion zloty (€579.4m) in its fourth quarter ended Jan. 31, 2024, a new quarterly record and up from the PLN 2.4 billion posted the year earlier, as off-price banner Halfprice continued to lead the way with 53 percent growth in its top line. The ...
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ArticleUFG files for bankruptcy
Unlimited Footwear Group (UFG) has unexpectedly filed for bankruptcy in the Netherlands. The proceedings started on Feb. 20 and a Breda-based court appointed an administrator. The announcement comes as a shock as UFG’s stand was bustling with activity at Expo Riva Schuh & Gardabags, an international trade show specializing in ...
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ArticleHow a French startup helps to manage unsold stocks
The clearance of unsold stock is a financial and environmental conundrum for manufacturers and retailers and the issue is likely to become more acute in the current poor business environment and amid growing pressure to avoid waste and promote a circular economy. Data by the Federal Reserve Bank of St. ...
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ArticleMicam attracts 40,821 visitors
Micam, the footwear fair which ran from Feb. 18 to 21 at the Fieramilano Rho exhibition center at the outskirts of Milan, along with the trade shows Mipel, The One Milan and Milano Fashion&Jewels attracted 40,821 visitors, from 150 countries. The trade fairs, which are held biannually, attracted 48,276 visitors ...
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ArticleWolverine makes progress on turnaround but more bumps likely
Six months on the job, Wolverine World Wide’s president and CEO, Chris Hufnagel, had to oversee changes in many aspects of the group’s overall business, including excess inventory, shedding businesses, lowering debt levels, and improving the supply chain. Progress has been made, but the turnaround will take more time ...
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ArticleFor Ever to produce compostable soles with Balena’s technology
For Ever, a Portuguese sole brand created in 1973, is joining forces with Balena to produce compostable soles. Balena is a circular economy startup founded in 2020 and located in Tel Aviv. The collaboration, unveiled on Feb. 20 during the Milan-based trade show Lineapelle, will combine For Ever’s mold injection ...
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ArticleItalian shoemakers concerned about the first half of 2024
After having experienced a decline in revenues in the second part of 2023, Italian footwear manufacturers expect the negative trend to continue during the first half of 2024. After gains posted in the first half of 2023, driven by a 13.6 percent year-over-year surge in the first quarter and a ...
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ArticleVF to extend its board in agreement with Engaged Capital
VF Corporation has appointed Caroline Brown to its board in agreement with its shareholder Engaged Capital. The activist investor has been pushing for an aggressive turnaround for the US apparel and footwear company. ”This appointment follows constructive engagement with VF’s shareholders, including Engaged Capital, LLC. VF also intends to ...
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ArticleHow Cortina wants to disrupt the sneaker market with its new SJ brand
Simultaneously in Europe and in Asia, Cortina launched the SJ brand, which it expects will disrupt the sneaker market and help it make the transition from a private label business to a brand-centric entity. The new label was showcased at Expo Riva Schuh & Gardabags, an international trade show specializing ...
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ArticleCrocs brand starts 2024 with momentum but $5bn sales target will take longer to reach
The Crocs brand has started 2024 “with momentum,” after sales in 2023 jumped by 14 percent to $3.0 billion, but management now expects it will take a bit longer to reach a $5.0 billion 2026 sales target unveiled in 2021. “I don’t think it’s realistic to achieve the $5 billion ...
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ArticleShoe Carnival buys Rogan Shoes
Shoe Carnival has acquired Rogan Shoes, a 53-year-old work and family footwear company with 28 stores in Wisconsin, Minnesota and Illinois which trade under the Rogan’s Shoes banner, for a purchase price of $45 million. The US footwear retailer expects the acquisition to be immediately accretive to its fiscal 2024 ...
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ArticleTown Team is seeking to expand its footwear offer
Town Team, a fast-growing Egyptian retailer, is seeking for new suppliers to enhance its footwear range as it faces competition from fast-fashion brands such as Zara and Bershka, both owned by the Spanish behemoth Inditex, and LC Waikiki, a Turkish chain also known as LCW. Town Team, which offers men’s ...
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ArticleMicam attracts over 900 brands
Micam will host 923 brands at its forthcoming edition, scheduled from Feb. 18 to 21, with 464 labels coming from Italy and 459 from abroad, mainly Spain, Turkey, Brazil, Germany and Portugal. Micam, which will be held at the Fieramilano Rho exhibition center at the outskirts of Milan, will showcase ...
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ArticleBasicNet’s revenues inch up 3%
BasicNet generated consolidated revenues of €398.6 million in 2023, up by 2.7 percent from the year earlier, as aggregate group brands revenues slipped by 10.4 percent to €1.14 billion, preliminary results show. The Italian company, which is the parent of such brands as Kappa, Robe di Kappa, K-Way, Superga and ...
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ArticleSam Edelman expands into four categories, including handbags and kids’ shoes
Sam Edelman, a leading brand in the portfolio of the US footwear company Caleres, has entered into partnerships with four new licensees to expand all three of its brands – Sam Edelman, Circus NY by Sam Edelman and Sam & Libby – into new categories. The new licensing partners are ...
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ArticleKenyan footwear producer seeks a partner to launch leather-shoe production
Saagar Shah, whose family owns and manages Kenya Suitcase Manufacturers (KSM), is planning to enter the leather-shoe market and is seeking a partner with skills in the production of uppers. The Mombasa-based company generates half its revenues from the production of rubber boots, polyvinyl chloride (PVC) shoes, for adults and ...
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ArticleHow Starlet continues to develop its fashion line as it grapples with adverse forex
The Starlet group, a Pakistani shoemaker based in Lahore, has continued to develop its line of fashion shoes, with a foray into women’s footwear, while having to deal with the consequences of a sharp devaluation of the local currency. Between early 2022 and September 2023, the Pakistani rupee declined by ...
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ArticleNew delisting attempt for Tod’s
After failing at the end of 2022, Tod’s’ key shareholders are trying again to delist the Italian company by offering a higher price. Financial analysts are divided on whether the new attempt will be successful. Under the current offer, Crown Bidco, a company controlled by L Catterton, a private equity ...
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ArticleAlpargatas’ Q4 results hit by write-offs
Write-offs totalling 64 million Brazilian reais (€12.0m) in raw materials and finished goods affected fourth-quarter adjusted Ebitda at Alpargatas. The Brazilian footwear group ramped up its capital discipline in the latter months of 2023 because of a “significant reduction” in sell-ins, itself due to high levels of inventory at retail. ...
