Latest News Briefs – Page 64
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News briefs
Authentic Brands Group raises $500m from General Atlantic
Authentic Brands Group (ABG) has announced a $500 million primary follow-on investment from global growth equity firm General Atlantic, its current investor. The continued partnership with General Atlantic is meant to support ABG’s worldwide expansion. General Atlantic first partnered with ABG in October 2017. The latest investment brings General Alantic’s ...
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News briefs
SportsShoes.com's Q1 sales up 20%
SportsShoes.com has announced sales figures for its first quarter of the fiscal year that began March 1, 2023. According to the report, the British e-tailer, which was founded in 1982, saw its sales surge by 20 percent year-on-year to £83.8 million (€97.3m). At the same time, it added 140,000 new ...
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News briefs
Vans appoints former Nike, Timberland executive as global marketing chief
Vans has appointed Drieke Leenknegt as global chief marketing officer, effective July 5. In her new role, she will report directly to Kevin Bailey, Vans global brand president. Leenknegt has held marketing and communications roles for more than 20 years. Most recently, she has served as global CMO at Timberland ...
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OrthoLite appoints new GM for India
OrthoLite, the U.S.manufacturer and provider of insoles and material solutions for footwear, announced the appointment of Vikash Bajargyan as the new general manager of OrthoLite India (OIN). In his new position, Bajargyan will oversee OIN’s overall operations. This includes leading manufacturing and business development, as well as building and managing ...
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News briefs
Zalando challenges the EU on its designation as a VLOP
Zalando said that on June 27 it filed a legal challenge with the Court of Justice of the European Union (CJEU), contesting its designation by the European Commission, under article 33 of the Digital Services Act (DSA), as a “Very Large Online Platform” (VLOP) because it has more than 45 ...
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News briefs
Global personal luxury goods market may rise 5-12% this year - Bain
Bain & Company and Altagamma’s 2023 spring luxury study showed that the global personal luxury goods market is projected to grow 5-12 percent in 2023 to between €360 billion and €380 billion, following a record year in 2022, despite uncertain economic conditions. Last year, the market generated estimated revenues of ...
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News briefs
Crocs launches virtual store with first 3D shoe customizer
Crocs has launched a new virtual store in partnership with 3D e-commerce platform Obsess. The Crocs Jibbitz Experience is “a virtual storytelling arena centered around self-expression, personalization, gamification and education.” It includes the brand’s first-ever 3D Jibbitz Customizer, a feature developed by Obsess to provide consumers with a mix-and-match tool ...
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News briefs
German data indicate recession continued in Q2 - economist
The latest data regarding Germany’s economy, indicate that the European power house was in a recession during the second quarter of 2023, marking the third negative quarter in a row, according to Franziska Palmas, senior Europe economist at Capital Economics. According to Palmas, German GDP fell by 0.5 percent in ...
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News briefs
Safilo, Jimmy Choo end eyewear agreement
Safilo, the Italian eyewear manufacturer, said that its license agreement to design, produce and distribute eyewear under the Jimmy Choo brand will expire on Dec. 31, 2023 and will not be renewed. Safilo and the footwear company, which is owned by the the luxury goods group Capri Holdings, will continue ...
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News briefs
Skechers sues Steve Madden for alleged trademark violation
Skechers sued fashion company Steve Madden in a Los Angeles federal court on June 20, claiming that the “S” logo in Steve Madden’s Kennie line of sneakers violates its trademark rights. According to the lawsuit, No. 2:23-cv-04869 filed with U.S. District Court for the Central District of California, Skechers claims ...
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News briefs
Hunter insolvent, new Wellies expected from ABG
Scottish company Hunter Boots, known for its original Wellington boot, went into administration in the UK on June 5 and changed its name to HBL Realisations Limited on June 14. U.S.-based Authentic Brands Group (ABG) announced on June 2 that it had acquired Hunter’s intellectual property. Documents filed by ...
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News briefs
Vuori launches footwear in collaboration with Clae
California-based activewear brand Vuori, founded in 2015, is launching a sustainable sneaker line in collaboration with Clae, a footwear brand also from California. The collection’s first silhouette – the Vuori x Clae’s Malone Lite – is based on Clae’s Malone sneaker and features a variety of eco-friendly materials, including a ...
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News briefs
Manolo Blahnik hires Elodie Bougenault as chief commercial officer
Manolo Blahnik has appointed Elodie Bougenault as chief commercial officer, effective June 26. She replaces Andrew Wright, who will ”focus permanently on delivering the significant long-term growth plans for the Americas.” In 2019, Wright became president of the Americas for the brand on top of his position as chief commercial ...
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News briefs
Brazilian exports suffer from weaker dollar, economic slowdown, Chinese competition
In May, Brazilian footwear exports fell by 18.7 percent year-over-year in volume to 8.53 million pairs and by 5.6 percent in value to $98.2 million due to the weakness of the U.S. dollar against the Brazilian real, the slowdown of the global economy and increased competition from Chinese producers as ...
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News briefs
Tecnica Footwear restructures DACH sales team
Following the establishment of the new Tecnica Footwear business unit under the leadership of Adriano Rossato in February, the Italian footwear manufacturer has restructured its sales team for Germany, Austria and Switzerland. Fabian Steinmetz took over the position of sales manager for Germany on May 1. After working for Blizzard ...
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News briefs
Santoni expects 20% sales growth in 2023
Santoni, the Italian luxury footwear brand, expects to increase sales by 20 percent in 2023 from the €98.8 million posted the previous year. The brand aims to develop direct-to-consumer sales with the opening of monobrand stores in Europe and by increasing the share of online revenues to 12 percent of ...
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News briefs
Toms Shoes founder pledges $100m for psychedelic research
Blake Mycoskie, the founder of Toms Shoes, has pledged to give $100 million to support psychedelic research and access, according to an interview with MarketWatch. ”The money will help fund academic institutions investigating psychedelics’ potential to treat anxiety, depression, post-traumatic stress disorder and other mental-health issues, as well as nonprofits ...
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Primark has room to expand its store network - financial analyst
Primark, the fast fashion retailer owned by Associated British Foods, has room to expand its store network given the low-single-digit market share in European markets and the opening of a second warehouse in the U.S., according to Richard Chamberlain, a financial analyst at RBC Capital Markets. “Our store potential ...
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News briefs
Frasers buys a stake in Boohoo
Regulatory filings showed that Frasers Group bought 63.5 million Boohoo shares, or 5 percent of the capital of the U.K. online fashion retailer. It also bought an 8.9 percent stake in Currys, a British retailer of domestic appliances and electronics. “We see potential synergies and an opportunity to strengthen ...
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News briefs
KKR to purchase €40bn of buy now, pay later European loans from PayPal
Private credit funds and accounts managed by the American investment firm KKR will purchase up to €40 billion of buy now, pay later (BNPL) loan receivables originated by PayPal in France, Germany, Italy, Spain and the U.K.. KKR will acquire substantially all the European BNPL loan portfolio held on PayPal’s ...
