Latest News Briefs – Page 113
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News briefs
JD Sports buys Greek firm Cosmos Sport
JD Sports Fashion, the UK retailer of sports, fashion and outdoor brands, has acquired 80 percent of Cosmos Sport. No financial details were released. Based in Crete, Greece, Cosmos was founded in 1982 by Fragiskos Tsiknakis. Prior to the purchase, Cosmos was 70 percent owned by the Tsiknakis family with ...
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News briefs
Wildberries enters the Baltic states
Russia’s largest online retailer Wildberries is expanding in Latvia, Lithuania and Estonia, but the marketplaces are only available in English and Russian. The company also announced that iOS and Android mobile applications would soon be available in the three Baltic countries. Wildberries indicated that orders in the countries are delivered ...
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News briefs
Sales of premium fashion tripled in Russia
Sales of premium apparel, footwear and accessories in Russia tripled value in the first three quarters of 2021 compared to the same period of the previous year, according to the Russian data provider ODF. “April to June [2020] was the period of the toughest lockdown in Russia. Therefore, it was ...
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News briefs
Burberry appoints a new CEO
The British luxury fashion company Burberry has appointed Jonathan Akeroyd as chief executive and executive director, effective April 1, 2022. He will replace Marco Gobbetti, who is stepping down on Dec. 31 to join Salvatore Ferragamo as CEO and general manager. Burberry’s chairman Gerry Murphy will chair the company’s executive ...
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News briefs
Caleres hires a new head of customer marketing
Suzy Cirulis has joined Caleres as senior vice president in charge of customer marketing. In this role, she will lead the company’s customer marketing efforts across the entire Caleres portfolio including customer relationship marketing, customer insights and customer analytics. She was most recently chief marketing officer at Crate and Barrel. ...
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News briefs
Softstar launches a hiking boot
Renowned since the late 1980s for its in-house designed and hand-made, minimal, leather footwear featuring the “barefoot” feel, and zero-drop soles, Softstar is now launching a hiking boot. Privileging high-quality, flexible, responsibly sourced materials that allow for free and natural movement and comfort, the Switchback boot is due to be ...
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News briefs
Allbirds opens 2 stores in the U.S.
Allbirds, the B Corporation certified Californian brand of footwear and apparel, has opened two new stores in the U.S. It opened a 2,892-square-foot retail store and community center in Cambridge on Oct. 15. It is the brand’s second store in the Boston area. On Oct. 12, the brand opened a ...
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News briefs
H&M considering sourcing in Russia
The Swedish retailer Hennes & Mauritz (H&M) is considering the possibility of buying goods from Russian producers, Saed El-Ashkar, the company’s general director in Russia, told the news agency Interfax. “H&M does not have its own factories and places orders with independent suppliers worldwide, from India, Bangladesh, China to Turkey ...
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News briefs
Sheme to consolidate its position in China and Germany
Sheme, a Chinese brand of luxury women’s shoes which attracted the spotlight by being the first Chinese footwear brand to have attended the fashion weeks in London, Paris and New York, aims to consolidate its positions in its existing markets of China, which represents about 90 percent of sales, and ...
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News briefs
China to increase coal production by nearly 6%
China is due to increase coal production by nearly 6 percent to address power shortages affecting the country, the news agency AFP reported citing the country’s National Development and Reform Commission (NDRC). China is the world’s main coal producer and polluter, as well as the largest manufacturer of footwear, and ...
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News briefs
Saks Fifth Avenue plans to float e-commerce business
The e-commerce business of the American luxury department store chain Saks Fifth Avenue is aiming to go public soon at a valuation that is roughly triple what it was pegged at earlier this year, The Wall Street Journal reported. Saks is interviewing underwriters this week for a possible initial public ...
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News briefs
Poshmark buys a sneaker authentication platform
Poshmark, a California-based social marketplace for the purchase and selling of new and secondhand clothing, shoes and accessories has acquired the sneaker authentication platform Suede One. The deal marks Poshmark’s first acquisition and no financial details were released. ”Suede One has built impressive capabilities in virtual authentication that will allow ...
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News briefs
SBTi approves eBay’s ambitious climate action goal
eBay’s ambitious greenhouse gas (GHG) reduction targets were approved by the Science Based Targets initiative (SBTi). The U.S. e-commerce company commits to cut its own (scope 1 and scope 2) emissions by 90 percent by 2030 from a 2019 base year, in line with limiting global temperature warming to 1.5°C ...
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News briefs
Chinese power crunch adds to viral and shipping problems
Alarming new reports are coming in about serious shortages of components and finished products made in China, which may prevent brands, distributors and retailers in all the sectors to respond to a surge in post-pandemic demand ahead of the critical Christmas selling season. One major cause is a big shortage ...
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News briefs
LVMH fashion and leather goods organic sales up 57%
Organic sales of the fashion and leathergoods division of the French luxury goods conglomerate LVMH rose by 57 percent year-over-year in the first nine months of 2021. On a reported basis, sales for the division were up by 53 percent to €21.315 billion. When compared with the first nine months ...
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News briefs
Sequential will be able to honor its debts
The bankrupt Sequential Brands Group is now expected to be able to pay its $435.1 million in liabilities through the auction of its assets. With You, a company that owns a 37.5 percent interest in the Jessica Simpson brand, has launched a bid for the remaining shares owned by SQBG ...
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News briefs
Adidas loses appeal about H&M’s two stripes
Ending a trademark dispute that began in 1997, the Dutch Supreme Court has dismissed an appeal by Adidas against a lower court’s ruling that a two-stripe logo used by Hennes & Mauritz did not infringe on its iconic Three Stripes. A key factor in H&M’s success was a market research ...
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News briefs
NURVV Run gets help to develop its smart insole
NURVV Run, the six-year-old, London-based developer of running wearables, has received an award for funding and intensive mentoring for its next phase of research on smart insoles from the creative R&D program of Business of Fashion, Textiles and Technology (BFTT). As a result, it will have access this year and ...
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News briefs
Vietnam woes penalize Yue Yuen and other producers
Yue Yuen’s revenues were down by 24 percent to $541.5 million year-on-year in September, with decreases of 22 percent in manufacturing and 25 percent at retail. Total revenues were still up by 6 percent to $6.44 billion for the first nine months of this year. The company relies on Vietnam ...
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News briefs
VF and WaterAid partner to vaccinate Cambodians
In an effort to protect workers’ health and keep the supply chain steady, VF is supporting the distribution of Covid-19 vaccines in Cambodia. VF’s Worker and Community Development program, partnering with the nonprofit WaterAid to support the rollout of the Cambodian government’s Covid-19 response plan. More than 20,000 factory workers ...
