Latest News Briefs – Page 108
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News briefs
Metro Brands IPO 3.64 times subscribed
The initial public offering (IPO) of the Indian footwear retailer Metro Brands, which ran from Dec. 10 to 14, was subscribed 3.64 times. The portion reserved to qualified investors was subscribed 8.49 times and the remainder of the IPO 3.02 times.
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CPC sells JackRabbit to Fleet Feet
CriticalPoint Capital (CPC), a Californian private investment firm, has completed the sale of JackRabbit, a running specialty retailer in the U.S., to Fleet Feet, an American franchisor of locally owned and operated running stores. CPC entered the footwear industry in early 2017 with the acquisition of JackRabbit. In October 2020, ...
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Shoe Carnival pledges $100,000 to tornado victims
Shoe Carnival pledged to donate $100,000 to the American Red Cross. The donation will benefit relief efforts for those affected by the tornadoes that devastated portions of the South and Midwest of the U.S. from late Dec. 10 to early Dec. 11. Shoe Carnival stores in Arkansas, Illinois, Indiana, Kentucky, ...
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News briefs
Brian Atwood launches a new collection
Brian Atwood is launching a new footwear collection with his brother Zak Rodriguez. The new collection will be called Il Fratellino (the little brother in Italian) and is scheduled to be launched in spring 2022. It will target young customers and will be inclusive and sustainable, according to the designers. ...
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Genesco to hold Etonic license in U.S., Canada
Genesco has signed a three-year licensing agreement with the running brand Etonic making it the exclusive footwear licensee in the U.S. and Canada. The deal includes two three-year renewal options, which would extend the partnership through to Jan. 31, 2030. Genesco will design and manufacture Etonic brand lifestyle footwear for ...
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News briefs
Skechers extends and expands its credit facility
Skechers has expanded its senior unsecured credit facility from $500 million to $750 million, extending its maturity date from November 2024 to December 2025. It will retain a $250 million accordion feature that allows the company up to $1 billion worth of liquidity. The syndicate of lenders features Bank of ...
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News briefs
H&M returns to pre-Covid levels
In the fourth quarter ended Nov. 30, the Swedish fashion retailer H&M posted fourth quarter-revenues of SEK 56.813 billion (€5.53bn-$6.22bn), up by 8 percent from a year ago, while in the full year the top line was up by 6 percent to SEK 198.967 billion (€19.38bn-$21.79bn). In local currencies, fourth-quarter ...
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Francesco Russo to create a capsule with Charles de Vilmorin
The Italian shoemaker Francesco Russo, which is a supplier of the Italian fashion house Salvatore Ferragamo, has teamed up with the French designer Charles de Vilmorin to create a capsule of five shoe styles. The collection, retailing from €595 to €1,500, will be available on Francesco Russo’s website and at ...
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News briefs
Michele Norsa to leave Ferragamo at year end
Salvatore Ferragamo’s executive vice chairman Michele Norsa will leave on Dec. 31, 2021, ahead of the arrival of the company’s new chief executive, Marco Gobbetti, who starts on Jan. 1, 2022. Norsa was the company’s CEO from 2006 to 2016. He rejoined the company in May 2020 to help ...
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News briefs
RVRC launches hiking shoes
The Swedish retailer of outdoor clothing RevolutionRace (RVRC) launched a line of hiking shoes. The company describes the Phantom Trail Mid, its first-ever footwear model, as being a waterproof hiking boot for men and women with the flexibility of a trail running shoe, designed for various activities all year round. ...
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News briefs
Rizzo makes offer to creditors
Rizzo Group has made an offer to its creditors to avoid bankruptcy. The Swedish retailer’s composition offer, which also applies for its subsidiary Rizzo International, involves the entire payment of unsecured debt up to SEK 2,000 (€195-$220) and 25 percent of any excess amount. The company has been in corporate ...
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News briefs
Huntsman and Shincell create fully recyclable TPU foam
The American chemical group Huntsman said that it has developed a new thermoplastic polyurethane (TPU), which is fully recyclable, UV protected and can be extruded into a film and then expanded into foamed sheets. The TPU was developed in conjunction with the Chinese firm Shincell New Material Company, which is ...
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News briefs
Sequential settles with the SEC
The U.S. Securities & Exchange Commission (SEC) has reached a settlement with the bankrupt Sequential Brands Group, ending a pending civil suit against the American licensing company. Based on its reported assets and liabilities in the bankruptcy case, Sequential will have to pay no penalties. The SEC had accused Sequential ...
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News briefs
Former Nike footwear product manager joins Arc’teryx
Arc’teryx has appointed Ovidio Garcia as vice president of footwear. He will be reporting directly to Katie Becker, Arc’teryx’ chief creative officer. Garcia brings 15 years of experience at Nike in product management, merchandising and product operations for footwear on a global scale, most recently as global footwear product operations ...
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News briefs
Kingmaker posts a negative gross margin due to Covid
The mandatory payment of minimum wages to factory workers idled by the Covid pandemic caused Kingmaker to post a negative gross margin for the first half of its fiscal year ended Sept. 30, leading it to report a net loss of 15.5 million Hong Kong dollars (€1.8m-$2.0m) compared with a ...
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Higg appoints a chief strategy officer to lead the platform’s expansion
Higg, the environmental software platform responsible for the Higg Index, has appointed James Schaffer as chief strategy officer to lead business development and partnerships. Schaffer’s experience in developing industry initiatives in the apparel sector, where Higg’s platform is widely used, is expected to be instrumental in guiding the company’s expansion ...
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News briefs
Veja opens a second Parisian store
Veja, the French brand of eco-sneakers, has opened a second store in Paris. Located in the hilltop quarter of Montmartre, the store was designed by the Veja studio and the architect Hugo Haas. While it has retained many of the elements already present – the premises were formerly occupied by ...
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OR Group reports a surge in Black Friday sales
OR Group, formerly known as Obuv Rossii, reported a substantial rise in online sales during Black Friday, held on Nov. 26. Online sales jumped by 44 percent in volume and by 30 percent in value, compared to a year earlier, the company said, not providing any additional details. OR Group ...
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Euro Shoes and CPM to be held together in Feb
The leading Russian fashion trade shows Euro Shoes and CPM will be held jointly from Feb. 21 to 24 at the Expocentre exhibition hall in Moscow. “It will be an unprecedented exposition of fashionable clothes and shoes in terms of diversity and vastness,” the companies said in a joint statement, ...
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News briefs
Amazon fined €1.129bn in Italy
The Italian fair trade agency, AGCM, has fined U.S. online retailer Amazon €1.129 billion for abuse of dominant position in order fulfilment. The regulator fined the companies Amazon Europe Core, Amazon Services Europe, Amazon EU, Amazon Italia Services and Amazon Italia Logistica. It noted that Amazon has a position of ...
