Latest News Briefs – Page 116
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News briefs
Canada Goose to start selling footwear on Nov. 12
Canada Goose announced the widely expected market launch of its first footwear line on Nov. 12, starting with two luxury-priced snow and hiking boots offered at suggested retail prices of $750 and $1,295. The new product launch follows six months of testing by a group of 40 men and women ...
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News briefsThe athletic shoe market dipped by 8.2% in 2020
The athletic footwear market has been performing generally better than the market for sports apparel and sports equipment in the last decade. Apparently, the opposite happened last year because of the Covid-19 pandemic, as many consumers didn’t buy a new pair of sneakers, except for running or exercizing, as they ...
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News briefs
Nike cuts guidance as supply chain woes worsen in Q1
The Nike group cut its guidance for fiscal year 2022 despite strong consumer demand, as it warned of inventory shortages over the next few quarters in the face of continuing supply chain headwinds that already took their toll on its sales performance in the first quarter ended Aug. 31. Nike’s ...
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News briefs
Asos enters the e-sports arena through Fnatic
Asos has signed a three-year deal with Fnatic, an e-sports brand with 30 million users, many of them members of Gen Z. As Asos’ chief growth officer, Robert Birge, explains, “gaming and fashion are both passions for young adults,” and “Gen Z-ers increasingly express their style in both the physical ...
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News briefs
Court sets an Oct. 28 deadline to bid for Sequential’s brands
The auction being supervised by U.S. Bankruptcy Court for the District of Delaware for the bankrupt Sequential Brands Group is set to start next month. Interested parties have been given a deadline of Oct. 28 to submit bids for any of its assets to be added to those already filed ...
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News briefs
Wildberries denies go-slow strike
The Russian online retailer Wildberries denied reports that some workers have engaged into a go-slow to protest against pay conditions. Anfisa Ronzhina, the company’s public relations manager, said that the company’s pick-up points are working normally. In a petition posted at change.org, Wildberries employees complained about the introduction of new ...
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News briefs
Euro Shoes launches B2B site
The Russian company Euro Shoes, an organizer of Euro Shoes footwear exhibition in Moscow, has launched the B2B marketplace Euroshoes.market. “The marketplace provides an opportunity [for producers] to demonstrate brand products and for buyers and retailers to place orders online,” Euroshoes.market said in a statement, adding that at the start ...
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News briefs
FLO takes over distribution in Russia
The Turkish shoe company FLO is opening an office in Russia in order to directly sell five brands in the country, said Alexey Davydov, the sales manager in Russia. So far, FLO has been present in Russia through a partner. The company will take over the distribution of U.S. Polo ...
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News briefs
Keen launches loyalty program focused on civic engagement
The Portland-based footwear company Keen launched Keens Corps, a loyalty rewards program providing points for volunteering, donating to grass roots organizations and shopping. The program rewards its members efforts through exclusive branded products, unique events and special shopping access. Individual and collective dashboards allow members to track their efforts. The ...
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News briefs
Lenzing to use carbon-zero Tencel fibers for Refibra
Celebrating the first anniversary of the launch of carbon-zero Tencel branded fibers, the Austrian Lenzing Group announced the expansion of carbon-zero Tencel branded fibers to Refibra technology to address growing industry demand to achieve circular fashion and carbon neutrality. The first carbon-zero Tencel branded Lyocell and Modal fibers have continued ...
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News briefs
Percassi opens another Nike store in Barcelona
Last year Nike made Italy’s Percassi Group its preferred partner in southern Europe, opening six stores with the Italian firm in Greece, Italy and Portugal as well as a flagship on a major thoroughfare in Barcelona, Paseo de Gracia. According to Palco23, a Spanish news service covering the sports business, ...
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News briefs
Sugi is licensing Sergio Tacchini footwear for Europe
Sergio Tacchini Europe has signed a long-term licensing deal with Sugi International for the development, production and distribution of a new line of Sergio Tacchini footwear that will “significantly upgrade the quality and breadth” of the line, while expanding its distribution. The deal covers many countries in Europe, including Russia, ...
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News briefs
New Balance faces new complaint over its made in USA label
A consumer advocacy organization, truthinadvertising.org, has filed a complaint with the U.S. Federal Trade Commission (FTC), asking it to investigate the validity of New Balance’s “made in USA” label, which it uses in at least a dozen models of footwear. According to the complaint, NB claims “a domestic value of ...
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News briefs
Martinsen family hikes stake in Arkk Copenhagen
The Martinsen family, one of Denmark’s richest business dynasties, has doubled its stake in the local sneaker company Arkk Copenhagen by buying out Winnie Liljeborg and Per Enevoldsen, founders of the Danish jewelry firm Pandora, according to the financial website Finans. The acquisition was carried out by Friheden Invest, an ...
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News briefs
Genesco obtains North American license for Starter
Genesco signed a three-year licensing agreement for the athletic brand Starter with Iconix Brand Group. With the agreement, Genesco becomes the exclusive footwear licensee in the U.S. and Canada. The deal includes a three-year renewal option, which would extend the partnership through Dec. 31, 2027. “Starter has been part of ...
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News briefs
Vestiaire Collective raises €178m
The French online reseller of second-hand luxury goods Vestiaire Collective has raised €178 million in a new funding round valuing it €1.45 billion. The funding round was led by SoftBank Vision Fund. Other investors include Generation Investment Management, co-founded and chaired by former U.S. vice president Al Gore, and Vestiaire ...
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News briefs
Spanish minimum wage to be above 60% average in 8 regions
Spain’s minimum wage, referred to as salario mínimo interprofesional (SMI), will already exceed 60 percent of the average regional wage in eight regions, including Valencia, where the footwear cluster of Elche is located, according to the daily Cinco Dias. The government is expected to approve in the coming days an ...
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News briefs
Crocs is changing the material contents of its Classic Clog
In a quest to halve its carbon footprint and achieve net zero emissions by 2030, Crocs has begun using a bio-based material that it has trademarked under the name Croslite. The brand’s idea is to change not the design but the composition of its signature product, the Classic Clog. This ...
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News briefs
New investor for FootBalance
FootBalance, a Finnish manufacturer of custom insoles, has entered into a partnership with a new investor, London-based IPGL Limited. IPGL has acquired Scope Growth II L.P.’s shares in the company. “FootBalance has during our ownership evolved from a local provider of insoles to become a global category leader in foot ...
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News briefs
Shoe Carnival appoints a new board director
Shoe Carnival has appointed Diane Randolph to its board of directors. With her appointment, the board of the U.S. footwear retailer is composed of seven directors, of which five are independent. From 2014 to 2020, Randolph held the position of chief information officer of U.S. beauty retailer, Ulta Beauty. Prior ...
