Latest News Briefs – Page 144
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News briefsANWR to hold hybrid trade fairs in 2021
The German footwear buying group ANWR is planning its 2021 trade fairs in hybrid form, with physical shows in Mainhausen, near Frankfurt, and virtual events. The events in Mainhausen will only take place if the coronavirus situation allows. Regardless of possible ongoing coronavirus-related restrictions, ANWR is planning to rely ...
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News briefs
Pierre Cardin dies at 98
The French designer Pierre Cardin died at the age of 98 at the American hospital in Neuilly-sur-Seine, near Paris. He was born in Italy, but to escape fascism his family moved to France when he was two. Cardin “never forgot his origins while having an unconditional love for France,” his ...
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News briefs
China launches an anti-trust probe against Alibaba
The Chinese government’s State Administration for Market Regulation (SAMR) has launched an anti-trust investigation against the Alibaba Group to verify charges that its marketplaces require merchants to sign exclusive agreements that prevent them from offering products on other internet platforms. Separately, the People’s Bank of China said that Ant, Alibaba’s ...
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News briefs
Zalando hires a “circularity director” away from H&M
Laura Coppen, who has been a major contributor to H&M’s sustainability efforts for almost five years, is joining Zalando to serve as “circularity director,” charged with implementing a program to promote greater transparency among its partner brands in the area of environmental protection. Her appointment follows a number of initiatives ...
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News briefsL.K. Bennett debt restructuring plan cleared
The company voluntary agreement (CVA) of the upmarket British retailer L.K. Bennett was approved by creditors. It will result in five stores closing down and the remaining shops switching to turnover-based rents. The chain has 18 standalone stores. Among the creditors who voted against the CVA was the property company ...
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News briefs
FDRA promotes Thomas Crockett to vice president
The U.S. trade association Footwear Distributors & Retailers of America (FDRA) has promoted Thomas Crockett to vice president in charge of government affairs. Crockett has served the last six years as director overseeing government and regulatory affairs. He is currently responsible for managing FDRA’s advocacy on issues impacting ...
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News briefs
TÜV SÜD introduced vegan product certification
TÜV SÜD has introduced vegan product certification to ensure that apparel, footwear and textiles are neither made of, nor finished with, animal-derived materials – such as leather, fur, fibers (wool, silk), glue, dyes and chemical substances (beeswax, carmine dye extracted from cochineal insects). The German company tests, audits and monitors ...
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News briefs
Schuh obtains £19 million refinancing
Schuh, the British footwear retailer owned by the U.S. firm Genesco, has obtained a £19 million (€20.9m-$25.5m) financing facility with Lloyds Bank. The funding is part of the U.K. Treasury’s Coronavirus Large Business Interruption Loan Scheme (CLBILS). Schuh already had a credit facility with Lloyds and the refinancing will boost ...
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News briefsBoohoo appoints PKF Littlejohn as auditor after PwC resignation
Boohoo has appointed PKF Littlejohn as its auditor after the resignation of PwC in October in the wake of a scandal over working conditions at some suppliers to the fast-fashion e-tailer. The company came under scrutiny earlier this year after allegations that workers making Boohoo clothes were paid below the ...
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News briefs
Asso obtains 4US license for kids’ shoes
The Italian shoe maker Asso signed a worldwide license agreement with the Italian footwear designer Cesare Paciotti for the production and distribution of children’s shoes under the 4US brand from the current autumn/winter season. Asso will offer boy and girl shoes for children aged from six to 13 years old, ...
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News briefsKlarna enters partnership with Verifone
Klarna, the Swedish online payments group which offers ”buy now, pay later” solutions, has entered a partnership with Verifone, a California-based provider of hardware products for payment processing, that will make Klarna available to millions of Verifone devices in the U.S. and Europe. The ongoing Covid-19 pandemic has impacted shopping ...
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News briefs
Shoe Carnival launches new $50 million share buyback
Shoe Carnival’s board authorized a new share repurchase program of up to $50 million, effective from Jan. 1. The share buyback will replace the existing $50 million share buyback that was cleared on Dec. 12, 2019. Currently, $43.1 million remain available under the existing program and additional purchases may still ...
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News briefs
Mexico hikes minimum wage by 15%
The Mexican government increased of the minimum daily wage by 15 percent for 2021 to 141.70 pesos (€5.80-$7.10) from 123.22 pesos (€5.05-$6.18) currently. Conasami, the commission in charge of the minimum wage, noted that the wage had already been risen by 16 percent in 2019 and 20 percent in 2020 ...
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News briefs
StockX valued $2.8 bn in new financing round
StockX, the online reseller of sneakers and other cult products, has raised an additional $275 million in a Series E funding round that values the Detroit-based company at $2.8 billion. StockX says its sales were up by 75 percent to more than $100 million in the third quarter, leading to ...
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News briefsBrazilian footwear exports lifted by slippers
In November, Brazilian footwear exports grew by 13.8 percent year-over-year to 9.55 million pairs thanks to a 52 percent increase in slipper exports, according to Abicalçados, which represents the local footwear industry. But in revenues, exports declined by 23.8 percent to $53.4 million during the month partially due to a ...
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News briefs
H&M sales resume decline from end Oct due to Covid resurgence
In the fourth quarter running from Sept. 1 to Nov. 30, Hennes & Mauritz (H&M) saw net sales decrease by 10 percent year-on-year in local currencies. For the whole financial year, net sales declined by 18 percent in local currencies due to the impact of the Covid-19 pandemic, according to ...
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News briefs
Ashley and ABG vie for Debenhams and Arcadia
Mike Ashley, the acquisitive boss of Frasers Group who is bidding for Debenhams, the biggest and oldest British department store chain, is reportedly interested now also in some of the assets of Arcadia, the bankrupt fashion retailing group that holds the largest number of concessions in Debenhams stores. His interests ...
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News briefs
New anti-Covid measures in Germany
In concert with the governments of the individual Länder, the federal government of Germany has ordered the lockdown of all the brick-and-mortar stores that sell non-essential products, starting on Wednesday, Dec. 16. The new restrictions came after a spike in new contaminations from Covid-19. They will last until at least ...
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News briefsPremiata sees 2020 sales stable at €60 million
The Italian shoe maker Premiata expects to finish the year with sales of some €60 million, in line with 2019 and after a 17 percent rise in 2018. For next year, the company has decided to be more selective in Italy and trim its client portfolio, which will result in ...
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News briefsSteve Madden has a new CFO as company veteran leaves
Steve Madden has promoted Zine Mazouzi, currently chief accounting officer and senior vice president of finance and operations, to the position of chief financial officer, replacing Arvind Dharia, who has been in the job since October 1992. The appointment is effective on Jan. 1. To ensure a smooth transition, Dharia ...
