Latest News Briefs – Page 60
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News briefs
Russia’s former New Balance distributor launches a new chain
Jamilco, the former Russian distributor of New Balance, announced the launch of the multi-brand footwear retail chain Trendzone. Initially, the company will open 32 stores at sites formerly run under the New Balance banner. The company has already opened an online store, trendzone.ru, to which users are automatically redirected from ...
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News briefs
Görtz’s CEO has left
Görtz’s CEO Frank Revermann has left the company after almost eight years at the helm. Revermann, who joined the Hamburg shoe retailer in November 2015 after working for the textile retailer Bonita, stepped down at the end of July “at his own request”, according to reports. Tobias Volgmann ...
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News briefs
Impo International names a new chief revenue officer
The Californian footwear company Impo International has appointed Bruce Kaplan as its new chief revenue officer. Kaplan has over 45 years of experience in retail and wholesale. Most recently, he was executive vice president of Ara North America.
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News briefs
VF appoints a new chief people officer
VF Corp. has named Brent Hyder chief people officer (CPO), effective Sept. 5. Hyder will report to president and CEO Bracken Darrell and will be a member of the company’s leadership team. He succeeds Anita Graham, who departed to join Labcorp earlier this year. Hyder joins VF after spending nearly ...
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News briefs
Frankie4 expands its presence in North America
Two years after launching its U.S. e-commerce platform, Frankie4, is expanding its presence in North America thanks to wholesale partnerships and the opening of a flagship store. The Australian women’s footwear brand rolled out in August wholesale partnerships with Nordstrom and J.Jill. In September, it will be opening a 1,300-square-foot ...
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News briefs
Psudo launches a new style in partnership with Blumaka
The Los Angeles-based sneaker brand Psudo said that it is launching its latest style, Psudo blu in partnership with Blumaka, a shoe and insole manufacturer allowing brands to develop foam parts that have up to 85 percent recycled content. Psudo blu sneakers will be produced at Blumaka’s solar-powered factory in ...
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News briefs
ANWR and Sabu cooperate towards long-term strengthening of footwear retail sector
The German footwear buying group ANWR and the German shoe retail cooperative Sabu have joined forces, launching an in-depth cooperation aimed at developing new industry solutions and fostering innovation to boost sales potential. The partners will focus on two “strategic fields of action”: revitalizing the trade fair landscape and ...
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News briefs
Pittards prolongs creditor protection as sale proceeds
On Aug. 22, Pittards, a British producer of leather and luxury leather goods, filed a second notice of intention to appoint administrators to provide protection against creditors for a further 10 business days while a buyer for the business and assets is sought. On Aug. 8, the company announced the ...
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News briefsA Nike factory opens in Uzbekistan
The Chinese group SinoInternational has started a factory for manufacturing Nike footwear in Andijan, Uzbekistan, the Uzbek association of leather, footwear and fur products, Uzcharmsanoat, said on its website. Nike granted permission to build the factory in 2019, but construction was delayed by the Covid-19 pandemic. In addition, it took ...
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News briefs
U.S. retail rents at highest level in a decade
Asking rents for retail space in the U.S. are at their highest in at least a decade, averaging more than $23 a square foot, according to CBRE. The Wall Street Journal reports that the increase is largely the result of a drop in retail construction since the 2008-09 financial crisis, ...
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News briefs
OrthoLite Cirql has a new general manager
Performance footwear insoles OrthoLite has announced that Matt Thwaites is the new vice president and general manager of OrthoLite Cirql, the footwear solution that enables circularity for brands and factories. Thwaites brings more than two decades of experience in sales and operations in the textile industry to his new role. ...
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News briefs
Farfetch reports Q2 loss, small revenue drop
Farfetch reported an adjusted Ebitda loss of $30.6 million and a 1.3 percent drop in revenues to $572.1 million for the second quarter ended June 30. The net loss at the internet platform for luxury goods was $281.3 million against a profit of $67.7 million. Gross merchandise value (GMV) inched ...
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News briefs
Footway’s creditors consent to continuation of reorganization
The creditors of the Swedish Footway Group AB, operator of specialized online stores, which has been in reorganization since July 25, have given the go-ahead for the continuation of the ongoing reorganization until Oct. 25 at the Solna District Court. Despite historic profitability and strong growth, the publicly traded company ...
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News briefs
British Footwear Development Trust launches training grant scheme
The British Footwear Development Trust (BFDT) has launched the Footwear Education and Training Grant Programme. The scheme is designed to “support individuals and businesses to reach their full potential within the dynamic U.K. footwear landscape,” BFDT said in a statement available on the website of the British Footwear Association. The ...
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News briefs
Oofos president Steve Gallo leaves
The recovery footwear brand Oofos said that its president, Steve Gallo, has left the company he had joined in 2018. “While we are very sorry to see Steve Gallo leave Oofos, we are extremely grateful for his contributions and the immense impact he has had in building this brand and ...
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News briefs
Designer Brands launches the first Le Tigre footwear line
Designer Brands, a U.S. designer, producer and retailer of footwear and accessories, launched on Aug. 14 the first-ever footwear line by Le Tigre. Le Tigre, along with the recent acquisitions of Keds and Topo Athletic, enables Designer Brands “to grow its brand portfolio in the increasingly important athletic and athleisure ...
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News briefs
Crocs refinances $1.18bn in debt and lowers the borrowing rate
Crocs repriced $1.18 billion in debt under its Term Loan B facility through a refinancing amendment. The move has lowered the facility’s borrowing rate by 0.50 percent. “I am very pleased with the outcome of this refinancing transaction. We successfully achieved a 0.50 percent reduction in our Term Loan B ...
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News briefs
Heydude has new content creator partner
Casual footwear brand Heydude has announced a partnership with content creators Dude Perfect. In what is a long-term partnership, the American sports and comedy group Dude Perfect will work in lockstep with Heydude on upcoming brand campaigns and creating bespoke content for the brand. The five members of Dude Perfect ...
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News briefs
Allbirds’ Q2 operating loss rises slightly
Allbirds, which continues to move forward with its “strategic transformation plan” announced in March, intends to complete distribution agreements with partners in Canada and South Korea during the second half of 2023. In the second quarter of 2023, total sales fell 9.8 percent to $70.5 million from $78.2 million, ...
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News briefs
Advent takes over Zimmermann
The U.S. private equity firm Advent International has reached an agreement to buy a majority stake in Australian fashion brand Zimmermann from the Italian private equity Style Capital. No financial details were released but according to Reuters, the transaction valued Zimmermann about 14 times its core profit, or more than ...
