Latest News Briefs – Page 16
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News briefs
Vulcabras’ sales rise by double-digits for 13th consecutive quarter
Despite a challenging retail environment and some unfavorable macroeconomic circumstances, the Brazilian Vulcabras group generated record quarterly sales, Ebitda, and gross margin for the period ended Sept. 30. Third-quarter revenues rose by 10.2 percent to 731.4 million Brazilian reais (€136.7m) as Ebit improved by 42 percent to R$149.1 million (€27.9m). ...
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News briefs
Asos posts a full-year loss
Asos posted an adjusted pretax loss of £70.3 million (€80.8m) in the fiscal year ended Sept. 3, compared with a profit of £22 million the prior year, as adjusted revenues fell by a like-for-like 11 percent to £3,538 million (€4,068m). Adjusted Ebitda fell to £124.5 million (€143.1m) from £183.9 million ...
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News briefs
Polygiene posts an operating loss in Q3 due to lower sales
Despite a 30 percent decline in third-quarter revenues to 28.7 million Swedish kroner (€2.4m) and a corresponding operating loss of SEK 2.4 million, Polygiene is optimistic about fourth-quarter results as early orders have exceeded expectations. The group, which said third-quarter results showed signs of a slow recovery, has shifted its ...
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News briefs
Timberland opens its first concept store in Japan
Timberland has opened its first concept store in Japan, in Tokyo’s Daikanyama neighborhood. The store offers footwear, limited-edition items and products created in collaboration with both domestic and international brands and artists, as well as the Japan-only premium line, Timberland +81 3. “With the launch of the Timberland +81 ...
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News briefs
Doucal’s sees 2023 sales above €25m
Doucal’s, a producer of upmarket men’s and women’s shoes located in Montegranaro, in Italy’s Marche region, expects to post sales of more than €25 million this year, a slight increase from 2022. In an interview with the Italian business daily Il Sole 24 Ore, Gianni Giannini, who runs the family-owned ...
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News briefs
A second activist investor targets VF
Los Angeles-based Legion Partners, has acquired an undisclosed stake in VF Corp. and wants the group to divest brands such as Timberland, Bloomberg reported, citing sources familiar with the matter. Previously, the California-based activist investor Engaged Capital outlined that VF is suffering from bloated overhead that is driving down shareholder ...
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News briefs
Frasers sells the Missguided brand to Shein
The British retailer Frasers Group has sold the intellectual property (IP) of the Missguided fashion brand to the online fast fashion retailer Shein. Under the terms of the transaction, Shein will acquire the IP and trademarks of Missguided, while Frasers will retain Missguided’s real estate and employees which have now ...
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U.S. bioPU producer Algenesis raises $5m in funding round
Algenesis Corporation, an American plant-based material science company, has raised $5 million in a funding round. Algenesis claims that its Soleic technology is the world’s first renewable, high performance, fully biodegradable and backyard compostable biopolyurethane (bioPU) made from plants and algae. Unlike petroleum-based polyurethane (PU), Soleic PU can biodegrade in ...
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News briefs
Shein in partnership with ABG’s Forever 21 brand
Authentic Brands Group (ABG) has signed a long-term partnership agreement with Shein for Forever 21, a lifestyle and fashion brand for men and women present globally in 572 locations and online. Through the partnership, the fast fashion online retailer will design, manufacture and distribute a line of Forever 21 apparel ...
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News briefs
Crocs launches Retail Takeback Pilot Program in the U.S.
On Oct. 27, Crocs launched in the U.S. the Retail Takeback Pilot Program to donate or recycle old shoes. Under the program, consumers can bring old Crocs shoes, in any condition, back to all of the brand’s retail stores in 10 states: Colorado, Georgia, Illinois, Michigan, Massachusetts, Minnesota, Ohio, Pennsylvania, ...
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News briefs
Inc.5 Shoes raises $10m in a Series A funding
The Mumbai-based omnichannel footwear brand Inc.5 Shoes has raised $10 million in a Series A funding round led by the local private equity Carpediem Capital. Param Capital and P3 Venture Fund also participated in the found. Created in 1998, Inc.5 Shoes retails through 70 stores and more than 200 shop-in-shops ...
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News briefs
Skechers launches technical basketball shoes
Just in time for the start of the new NBA season, Skechers has unveiled its first line of technical basketball shoes to be sold in North America, the Philippines and China. The first wave of Skechers basketball shoes includes two different mid-top models, SKX Resagrip and SKX Float. Skechers has ...
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News briefs
Hugo Boss issues maiden Schuldschein loan
Hugo Boss has issued its first Schuldschein loan, with a value of €175 million, to finance further investments as part of its ‘Claim 5’ growth strategy. The initial target volume from the Schuldschein – which is similar to a bond but doesn’t need to be registered on a stock exchange ...
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News briefs
Frasers continues to hike its stake in Boohoo
Frasers Group has increased its stake in the online fashion retailer Boohoo to 16.50 percent from 15.12 percent, according to a stock exchange filing. The British retailer has been gradually building up a stake in Boohoo over the past months. It previously said that it saw “potential synergies and an ...
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News briefs
Piquadro H1 sales up by 7.1%
The Italian leather goods company Piquadro reported revenues in the first half ended Sept. 30 of €85.9 million, up by 7.1 percent compared to the year earlier. Revenues from the Piquadro brand jumped by 12.1 percent to €39.5 million, with 17.5 percent growth in the wholesale sales channel and an ...
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News briefs
Zegna to directly manage the South Korean market from Q1
The Italian fashion house Ermenegildo Zegna will buy the entity managing the Zegna brand in South Korea from its local franchise partner. With the transaction, Zegna will directly operate its South Korean business, which comprises 15 stores, from the first quarter of 2024. The brand has been present in South ...
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News briefs
German consumer confidence worsens
In November, consumer confidence in Germany is expected to drop to -28.1 from a revised -26.7 in October with high food prices weakening households’ purchasing power and preventing consumption from supporting the economy, according to the latest survey published jointly by the market research firm GfK and the Nuremberg Institute ...
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EU takes steps to block products made by forced labor
The European Parliament is proposing a new legislation framework to investigate the use of forced labor in companies’ supply chains. If it is proven that a company has used forced labor, all import and export of the related goods would be halted at the European Union (EU)’s borders. Companies would ...
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VF appoints former Nike president to board
Trevor Edwards has been appointed to the board of directors at VF Corp. Edwards, currently a strategic advisor to direct-to-consumer brand and investment firms, began his 25-year career at Colgate-Palmolive in 1986. He currently serves as a strategic advisor to direct-to-consumer brands and investment firms. From 2013 until 2018, he ...
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News briefs
Steve Madden buys Almost Famous to expand its apparel business
In a move to expand its apparel business, Steve Madden has bought Almost Famous, a designer and marketer of women’s apparel, for $52 million in cash, plus an earn-out provision based on future financial performance. Almost Famous markets products under its own brands, primarily Almost Famous, as well as private ...
