Latest News Briefs

  • News briefs

    Burberry hires a new chief creative officer

    2022-09-29T09:24:00Z

    Burberry has appointed Daniel Lee as its new chief creative officer. He will join the company on Oct. 3 reporting to chief executive Jonathan Akeroyd. Lee replaces Riccardo Tisci, who is leaving the company at the end of this month after almost five years in the job. Lee was the ...

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    Sales of Russian e-tailers surge

    2022-09-28T07:05:00Z

    Russian online marketplaces are continuing to enjoy a surge in sales. Wildberries, Ozon, AliExpress Russia, SberMegaMarket and Yandex.Market jointly processed 400 million orders in the second quarter of 2022, up by 80 percent year-over-year. In value, turnover hit an all-time quarterly high of 500 billion rubles (€8.2bn), Moscow-based analytical agency ...

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    Vapesol launches soles made from factory waste of nitril gloves

    2022-09-27T17:46:00Z

    The Portuguese company Vapesol, which manufactures more than five million pairs of soles yearly (according to its website), has teamed with the nitril glove company Raclac to produce of footwear soles from industrial waste. Raclac claims to be the only manufacturer of nitril examination gloves in Europe. Waste from its ...

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    NFW Footwear Collective is growing

    2022-09-27T16:41:00Z

    New Balance and Wolverine Worldwide have joined Natural Fiber Welding’s Footwear Collective, a cooperative platform aiming to reduce the environmental impact of footwear across the value chain. Curect members include Allbirds, Camper, Deckers and Ralph Lauren. Katy O’Brien, senior manager of innovation at New Balance, said: “We have been ...

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    Micam and sister fairs attract 35,470 visitors

    2022-09-26T08:28:00Z

    The September edition of Micam, along with the three shows held with the Milan-based footwear trade fair, attracted 35,470 visitors, up by 20 percent from the event held in March 2022. Micam highlighted that there was strong presence of visitors from Spain, France and Germany as well as of buyers ...

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    U.K. to introduce VAT-free shopping for foreigners

    2022-09-23T17:09:00Z

    During the presentation of new budgetary measures, Kwasi Kwarteng, the U.K.’s newly appointed finance minister, officially referred to as the chancellor of the exchequer, said that the government has decided to introduce VAT-free shopping for overseas visitors. “We will replace the old paper-based system with a modern, digital one. And ...

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    FedEx to hike rates from Jan. 2

    2022-09-23T09:55:00Z

    FedEx said its FedEx Express, FedEx Ground and FedEx Home Delivery will increase rates by an average of 6.9 percent effective January 2, 2023 as the the U.S. courier service tries to align costs with demand. Meanwhile, FedEx Freight rates will increase by an average of 6.9 percent to 7.9 ...

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    U.K. consumer confidence at record low - GfK

    2022-09-23T09:55:00Z

    In September, consumer confidence in the U.K. fell to -49, the worst overall index score since records began in 1974, and down from -44 in August and -13 a year ago, according to the latest survey released by market research firm GfK. The component on personal finances in the coming ...

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    Turkish lira falls to record low against the dollar

    2022-09-23T06:06:00Z

    The Turkish lira fell to a record low against the U.S. dollar after the Turkish central bank cut its policy rate, the one-week repo auction rate, to 12 percent from a previous 13 percent, as it pointed to a global economic slowdown and the increased risk of recession. The currency ...

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    Alibaba’s Tmall Luxury Pavilion enhances metaverse experience

    2022-09-22T11:42:00Z

    Tmall Luxury Pavilion, the Alibaba luxury shopping platform, introduced a so-called Meta Pass and hosted an augmented reality fashion show in Shanghai. As Alibaba reported, Luxury executives tried on AR glasses, held a virtual item (such as a digital luxury bag), and placed it in a gift box. When they ...

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    The Russian fashion market has nearly halved

    2022-09-22T10:10:00Z

    Between February and August of 2022, the sales of shoes, clothes and accessories in Russia plummeted by 40.5 percent against the same period of the previous year, according to Anush Gasparyan, spokesperson for the Moscow-based think tank Fashion Consulting Group. As many as 23 percent of the Russian customers surveyed ...

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    More than half of German clothing retailers hit by supply issues

    2022-09-21T11:05:00Z

    Overall German retailers are “very concerned” about the replenishing of their inventories and the situation could continue into the Christmas season, according to a survey carried out by the ifo Institute. In August, on average 77.5 percent of retailers complained about supply problems, up from 77.3 percent in July. Retailers ...

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    World faces a winter of discontent - UN

    2022-09-20T15:58:00Z

    The secretary general of the United Nations, António Guterres, warned that the world will face a difficult winter due to the effects of the multiple ongoing crises including the war in Ukraine, increasing poverty and inequality, and the impact of global warming. “These crises threaten the very future of humanity ...

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    Norway wealth fund asks invested firms for net zero by 2050

    2022-09-20T15:58:00Z

    Norges Bank Investment Management, Norway’s sovereign wealth fund, will ask the over 9,000 companies in its investment portfolio to reach net zero emissions by 2050. ”We set a target of net zero emissions by 2050 at the latest for all companies,” said Carine Smith Ihenacho, chief governance and compliance officer ...

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    German producer prices at record highs

    2022-09-20T10:07:00Z

    In August, German producer prices for the domestic market rose by 7.9 percent month-on-month and grew by 45.8 percent year-on-year, according to the statistics office Destatis. The monthly and annual readings are the highest on record. Annual producer price growth reached 37.2 percent in July and 32.7 percent in June. ...

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    Mike Ashley to quit Frasers Group’s board

    2022-09-20T10:07:00Z

    Mike Ashley, the founder of Frasers Group, will not be standing for re-election as a director at the forthcoming annual general meeting (AGM) of the British retailer. He will therefore step down from the board upon the conclusion of the AGM on Oct. 19. Ashley will continue to be available ...

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    On unveils first shoe made from carbon emissions

    2022-09-20T09:16:00Z

    In partnership with LanzaTech, Borealis and Technip Energies, Swiss sports brand On is launching a shoe called Cloudprime. Described by the company as “the first-ever shoe made from carbon emissions,” the Cloudprime is made of CleanCloud ethylene vinyl acetate (EVA) foam, which uses industrially emitted carbon as a raw material. ...

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    Global footwear market seen reaching $543.9bn by 2030

    2022-09-20T07:32:00Z

    The global footwear market is expected to reach a size of $543.9 billion by 2030, thanks to a compound annual growth rate (CAGR) of 4.3 percent between 2022 and 2030, according to a report by Grand View Research, Inc. The research called “Footwear Market Size, Share & Trends Analysis Report ...

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    H&M’s Q3 sales decline in local currencies

    2022-09-17T10:22:00Z

    In the third quarter ended Aug. 31, H&M generated net sales of SEK 57.450 billion (€5.38bn), up by a reported 3 percent, but down by 4 percent in local currencies. “The third quarter got off to a weak start, in common with the industry in many of the group’s major ...

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    Prada buys a stake in the tannery Superior

    2022-09-17T10:22:00Z

    Prada has purchased a 43.65 percent stake in Superior, a Tuscan tannery specialized in calfskin processing, for an undisclosed amount. Superior has recently focused its investments on process digitization and a sustainable development plan centered on the circular economy, energy efficiency and water resource protection. According to the terms of ...