Latest News Briefs – Page 95
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News briefs
OR Group undergoes a restructuring
The Russian footwear retailer OR Group, formerly known as Obuv Rossii, announced that its online marketplace Westfalika temporarily stopped accepting orders, as a part of an anti-crisis program embarked on by the company. OR Group has also started restructuring its retail network, closing the least profitable stores. In particular, three ...
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News briefs
DSM sells engineering materials business
The Dutch group Royal DSM reached an agreement to sell its engineering materials business to Advent International and Lanxess for an enterprise value of €3.85 billion. The business represented €1.5 billion of DSM’s total annual net sales and €334 million of its total adjusted Ebitda for 2021. DSM expects to ...
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News briefs
Arklyz buys Shoe City
Arklyz Group, the owner of the athletic specialty footwear and lifestyle retailer, The Athlete’s Foot (TAF), has bougth Shoe City, a Baltimore-based sneaker and streetwear lifestyle retail chain together with an online platform www.ycmc.com. Shoe City is an established local business, having started with one location in Baltimore in 1949. ...
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News briefs
Vivobarefoot partners with Bundlee
Footwear brand Vivobarefoot is partnering exclusively with Bundlee, a U.K.-based rental platform for children’s clothing, which is for the first time expanding its service to shoes. Founded in 2018 by Eve Kekeh, Bundlee offers children’s clothing on a rental subscription basis. The clothes are returned when the child grows up ...
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News briefs
S&P revises outlook for Wolverine Worldwide
S&P Global has revised its outlook on Wolverine Worldwide to negative but maintains its BB rating on the issuer credit rating. Wolverine ended the first quarter with a debt-to-equity ratio of 5.2x due to last year’s acquisition of Sweaty Betty, a $30 million settlement related to PFAS contamination at a ...
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News briefs
Record loss for Footway in Q1
After the company’s profit warning in March due to supply chain problems and decreased demand, the Swedish Footway Group has now published its Q1 financial report. The Ebit result landed at a negative71.2 million Swedish kronor (€-6.8m), compared to a loss of SEK 12.8 million in the first quarter of ...
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News briefs
DuPont Biomaterials sold, reincorporated as Covation Biomaterials
Following the completion of the purchase from DuPont for approximately $240 million, the Chinese Huafon Group has reincorporated former DuPont Biomaterials as a stand-alone company under the name Covation Biomaterials headquartered in the U.S. state of Delaware. Covation aims to create sustainable building blocks for customers to make innovative bio-based ...
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News briefs
Amazon not seen liable for sale of counterfeit Louboutin shoes
The advocate general of the Court of Justice of the European Union (CJEU), Maciej Szpunar, estimates that Amazon is not liable for the sale of counterfeit Christian Louboutin shoes on its platform. In 2019, Louboutin sought an injunction against the U.S. online retailer in courts in Luxembourg and Belgium on ...
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News briefs
Prada names Roberto Massardi as chief business development officer
Prada appointed Roberto Massardi as chief business development officer in May. He is responsible for the strategic development of the group through the pursuit of new business opportunities. At the start of his career, Massardi held different positions at Italian tyre manufacturer Pirelli before joining a first time Prada in ...
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News briefsUFG in license agreement with Paul Frank
Unlimited Footwear Group (UFG) reached a license agreement to design, produce, market and distribute Paul Frank branded footwear in 50 countries including the entire European Union, Eastern Europe, the U.K., Switzerland and Scandinavia. The brand will be managed by UFG’s unit Heritage Footwear Company, which plans to launch two ...
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News briefs
Vietnam’s footwear exports up nearly 13%
Vietnam’s footwear exports rose by 12.6 percent year-over-year in the first four months of 2022, generating more than $7.3 billion dollars in revenues, according to the country’s Ministry of Industry and Trade. In the whole of 2021, Vietnam generated $17.6 billion from the export of footwears, up by 4.9 percent.
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News briefs
Indian leather exports up by a third
Indian exports of leather and leather products rose by a third to reach $4.4 billion in the 11 months to February 2022, according to the Council for Leather Exports (CLE). India’s fiscal year runs from April to March. Exports of leather footwear rose by 39 percent to $1.8 billion and ...
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News briefs
Vans opens a new store in Milan
Vans has opened a three-story, 300-square-meter shop in Milan’s Via Orefici at the Orefici11 retail space, which also hosts brands like The North Face, Timberland and Napapijri. It is Vans’ 36th store in Italy and its fifth in Milan.
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News briefs
Piquadro names Francesco Giovagnoni as general manager
The Italian leather goods group Piquadro has appointed Francesco Giovagnoni as its new general manager. Giovagnoni comes to Piquadro with a lengthy experience in the luxury goods sector, having held management positions at Sara Lee Branded Apparel, Bulgari, DBApparel, Damiani and Campo Marzio. He said this is a ”decisive moment” ...
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News briefs
Italy fashion sector revenues up by 19.3% in Q1
Revenues in Italy’s fashion sector in the first quarter of 2022 increased by 19.3 percent compared to the year earlier, above expectations of 14 percent growth, according to data from the research office of the trade association Confindustria Moda. In the same period, orders in the fashion sector were 15 ...
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News briefs
Timberland renews eyewear agreement with Marcolin
Timberland, the footwear brand owned by VF Corp, has renewed until December 2026 its license agreement with the Italian eyewear manufacturer Marcolin. The companies have worked together since 2003. Under the agreement, Marcolin oversees the design, production and global distribution of sunglasses and optical frames with the Timberland name. At ...
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News briefs
Chinese economic situation worse than in 2020
The Chinese Prime Minister Li Keqiang said that the country is facing a “critical moment” with difficulties that are worse, to a certain extent, than in 2020 when the Covid-19 pandemic emerged. China is tackling a resurgence of the pandemic and has applied a zero-Covid policy resulting in restrictions, including ...
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News briefs
Camel Active Footwear licensee HC Footwear files for bankruptcy
HC Footwear, a unit of Hamm Market Solutions which holds the Camel Active license for footwear, has filed for bankruptcy. Supply chain disruptions, soaring freight costs and extended lockdowns drove the Osnabrück-based company into insolvency, HC Footwear said in a statement. The war in Ukraine and a decline in ...
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News briefs
Nicowa launches a footwear, accessories collection
After opening at the end of last year an office in Verona to optimize production processes in northern Italy, Nicowa is expanding to include shoes and accessories for the autumn/winter 2022/23 season. Since April, Anna Boutachkova has been on board with the Munich womenswear label as head of design for ...
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News briefs
Pakistan footwear exports up 11.5% in 10 mths
Pakistan exported 15.7 million pairs of shoes, up by 11.5 percent in volume, in the first ten months of the country’s fiscal year ending in June. Export revenues grew by 21 percent to $130 million over the period, according to the Pakistan Bureau of Statistics.
