Latest News Briefs – Page 91
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News briefs
Zalando names new head for German-speaking countries
Christoph Lütke Schelhowe, a former McKinsey associate principal, is Zalando’s new general manager for the German-speaking markets. Schelhowe has been with the company for almost ten years in different positions, most recently VP, demand – customer acquisition and engagement. He replaces Florian Jodl, who resigned.
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News briefs
CMA CGM cuts freight rates for French imports, exports
The French shipping company CMA CGM is cutting freight costs for imports and exports to and from France. The company is cutting freight rates by €750 per container for imports from Asia to metropolitan France and for all imports by French overseas territories. CMA CGM is also reducing the cost ...
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News briefs
Bernard Arnault to reinforce control over LVMH parent company
The French businessman Bernard Arnault plans to transform Financière Agache, a family holding company which controls the French luxury goods conglomerate LVMH, into a limited partnership. The move will enable the businessman and his five children to maintain control over the group. “The LVMH group is a family-based group whose ...
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News briefs
Coats completes the acquisition of Texon
On July 21, the British industrial thread manufacturer Coats announced that it had completed the acquisition of Texon, a U.S. footwear solutions provider. Coats bought Texon at an enterprise value of $237 million and a total net cash consideration of $211 million. The acquisition is based on an Ebitda multiple ...
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News briefs
French footwear sales plunge in June after a strong May
Footwear sales dropped by 9.0 percent month on month in June, on a seasonally and working-day adjusted basis, the sharpest decline among the categories monitored by the Bank of France to gauge retail trade. In May, footwear had been the best performing category with a 7.5 percent rise. Overall retail ...
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News briefs
Aldo completes its restructuring
On July 14, Aldo Group exited from its restructuring process initiated in May 2020 when it filed for protection under Canada’s Companies’ Creditors Arrangement Act. “It is with great relief that we put this process behind us, and with excitement that we now look ahead. The work and restructuring we’ve ...
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News briefs
EU starts membership talks with Albania, North Macedonia
On July 19, 2022, the European Union started membership negotiations with Albania and North Macedonia. “What a historic moment. Today, Albania and North Macedonia are opening the accession negotiations to the European Union,” said Ursula von der Leyen, the President of the European Commission. “You and your citizens, you and ...
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News briefs
FootBalance appoints a chief people officer
FootBalance has appointed Kukka Salomaa as its first chief people officer. She joins the Helsinki-based company with over 15 years of global HR directorial experience, working across travel, distribution and retail industries. Salomaa will report to FootBalance’s CEO, Klaus Rauhansalo. The Finnish manufacturer of custom insoles is present in more ...
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News briefs
Aerosoles signs a licensing agreement with Orly to expand into men’s products
The American luxury comfort footwear brand Aerosoles has signed a licensing agreement with Orly Corporation for the distribution of men’s slippers, men’s and ladies flip flops, hanging footwear, men’s socks and roller skates for men, women and youth. The collections will complement the brand’s assortment of classic women’s styles. The ...
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News briefsDesigner Brands enters licensing agreement with Le Tigre
Designer Brands has entered a licensing agreement with Le Tigre 360 Global, that will add the Le Tigre label to its portfolio of ”owned brands”. The Ohio-based footwear company aims to double sales of the owned brands category by 2026. The current portfolio includes Vince Camuto, Reebok, Hush Puppies, Jessica ...
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News briefs
H&M pulls out of Russia
H&M announced that it would start winding down its business in Russia. The move will cost the Swedish apparel retailer about SEK 2 billion (€190m), of which SEK 1 billion will impact its cash flow. The amount will be accounted as a one-time cost in the company’s third-quarter results. The ...
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News briefs
Richemont Q1 sales up 12% in local currencies
In the first quarter ended June 30, Richemont generated €5.264 billion in sales, up by a reported 20 percent year-over-year and 12 percent higher at constant exchange rates. At constant currency rates, retail sales for the Swiss luxury goods group were up by 18 percent, online retail sales rose by ...
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News briefs
Görtz revisits its purchasing strategy
The German footwear chain Görtz has revamped its purchasing strategy and underwent a management change to match its positioning as an omnichannel retailer. According to the Hamburg-based company, the traditional way of planning purchases by brands is being replaced by purchases based on trends and a new management position ...
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News briefs
Deckers appoints a new head for the fashion lifestyle division
On July 11, Anne Spangenberg started as president of fashion lifestyle at Deckers Brands. She will serve on the company’s executive leadership team, reporting directly to Dave Powers, chief executive officer and president of Deckers Brands. Most recently, Spangenberg was chief merchant for Nike. She will lead Deckers’ fashion lifestyle ...
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News briefs
Crocs wins a counterfeit case
Crocs has announced a judgment against USA Dawgs and Double Diamond Distribution stemming from the sale of counterfeit Crocs shoes by the two companies. In the case, Crocs also obtained damages of $6 million and $55,000, respectively, against the companies. The case is the culmination of years of litigation between ...
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News briefsHeydude unveils new logo and look
After being acquired by Crocs for $2.5 billion earlier this year, the casual footwear brand Heydude has on July 11 unveiled a new logo via its social media accounts that was co-determined by the brand’s fans through focus groups in the U.S., a consumer survey and discussions in online forums. ...
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News briefs
GM Leather is listed on the Milan stock exchange
GM Leather, an Italian leather manufacturer, was listed on the Milan stock exchange on July 13. In its debut on the Euronext Growth Milan, the stock closed 1.63 percent higher compared to its initial public offering price (IPO) of €1.75 per share after having reached an intraday high of ...
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News briefs
Dr. Martens trading in line with its expectations
Dr. Martens said that trading since the start of its fiscal year is in line with its expectations and reiterated its full-year guidance. The company’s fiscal year runs from April 1 to March 31. The British shoemaker previously said that it expected full-year revenue growth reaching a high-teen rate thanks ...
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News briefs
Walmart buys 4,500 electric delivery vehicles
Walmart has signed an agreement with Canoo, a U.S. mobility company, to purchase 4,500 all-electric delivery vehicles, beginning with the Lifestyle Delivery Vehicle (LDV), with the option to purchase up to 10,000 units. No financial details were released. The vehicles will be used to deliver online orders and will also ...
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News briefs
Gap’s CEO steps down amid flagging sales
Gap’s president and chief executive officer Sonia Syngal has stepped down from her position and from the company’s board, and will depart the company following a brief transition. Syngal has been with the company for 18 years and was CEO since March 2020. She leaves as Gap suffers declining sales. ...
