Latest News Briefs – Page 166
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News briefs
Lloyd presents new store concept
Lloyd Shoes presented a new store concept at an 80-square meter location in Ludwigsburg on March 12. The format aims to represent the international image of the German footwear brand, making a clear differentiation between product segments, including men’s and women’s shoes, bags and other leathergoods and accessories. The new ...
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News briefs
Schuh restarts e-commerce business
The Scottish footwear retailer Schuh has reopened its e-commerce platform, which new health and safety standards in the U.K. had temporarily closed because of the Covid-19 pandemic. The site will now operate with a maximum staff of 10, two-meter spacing between workers and site sanitization. According to the company, the ...
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News briefs
Debenhams files for administration
On April 6, Debenhams filed a notice of intent to appoint an administrator. The British retailer’s move would provide protection from any legal action that could push the business into liquidation, especially while the nationwide lockdown over the Covid-19 pandemic keeps its 142 department stores shuttered. Debenhams is preparing to ...
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News briefs
Edcon’s liquidity sufficient only to pay wages
Edcon, a South African non-food retailer which offers clothing and footwear throughout Southern Africa, has only sufficient liquidity to pay wages after revenues and cash were 400 million rands (€19.5m-$21.1m) below its forecast in March. “As a result, Econ is unable to honour any other accounts payable during this period,” ...
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News briefs
Superfeet masks
Superfeet and sister company Flowbuilt Manufacturing have started producing PPE (personal protective equipment) masks with 3D-printed elements, using their printing and manufacturing facilities in Ferndale, in the state of Washington. Around 30,000 of these masks will be made and immediately distributed to medical facilities in need in the Pacific Northwest.
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News briefs
Tod’s scraps dividend, chairmen waive 2020 pay
Because of the uncertainty surrounding the Covid-19 pandemic, Tod’s has decided to cancel its full-year dividend. The company had previously declared a dividend of €0.6 per share on its 2019 results. It still plans to spend 1 percent of net profit on solidarity projects. It added that its chairman, Diego ...
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News briefs
Finn Comfort introduces EDI
Finn Comfort, the German brand for comfort shoes that is owned by the Waldi Schuhfabrik, has adopted an electronic data exchange (EDI) program as an option for its clients. Business data can then be exchanged in a fully automated manner via an EDI interface. Finn Comfort will be supported by ...
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News briefs
Clarks temporarily closes stores in the U.K. Ireland and the U.S.
Clarks has closed all of its stores in the U.K., Ireland and the U.S. to help curb the Covid-19 pandemic. According to its general manager for the U.K. and Ireland, Joe Ulloa, store employees will continue to receive pay and benefits, and the company’s online store will remain open. Certain ...
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News briefs
Nilson Group invests in sustainability
Nilson Group, the leading shoe retailer in Sweden, undertook a number of initiatives last year to make its shoe production more sustainable. In addition to introducing the “A Better Choice” collection, made in part from recycled or organic materials, the group increased its support for Human Bridge, which takes used ...
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News briefs
Peta invests in luxury brands
The American animal-rights group People for the Ethical Treatment of Animals (Peta) has taken advantage of the stock market’s decline caused by the Covid-19 pandemic to purchase stakes of undisclosed sizes in approximately 20 companies in the luxury industry, among them Kering, Burberry, Ralph Lauren and Guess. The purpose is ...
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News briefs
Hidesign to expand retail footprint in India
According to an English-language Indian daily, the Deccan Herald, Hidesign will be expanding its retail footprint in its home country of India. The producer of leathergoods will be opening flagships – every one exceeding 1,000 square feet and carrying the brand’s full range of products – in Pondicherry, Mumbai, Delhi, ...
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News briefs
LVMH donates ventilators, makes masks
LVMH, the luxury giant controlled by Bernard Arnault, is donating 261 ventilators to French hospitals to help fight the coronavirus pandemic. Twenty of these devices have already been delivered to hospitals, according to Bloomberg. LVMH has also reopened 12 of its 16 Louis Vuitton handbag factories to sew non-surgical face ...
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News briefs
ID Factory offers free platform access to leathergoods companies
According to the online portal Footwearbiz, the ID Factory of Arzignano, Italy, is offering a six-month access, free of charge, to a basic version of its platform to companies in leather industry. The company provides cloud-based data-sharing systems for businesses in the fashion supply chain, and its service should therefore ...
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News briefs
Tod’s owners help healthcare workers’ families
In an appropriate gesture of solidarity, the family of Diego and Andrea Della Valle, which controls Tod’s, has reportedly allocated €5 million to support the families of healthcare workers who have lost their lives in the fight against Covid-19. The funds will be managed by Protezione Civile, a department of ...
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News briefs
Tourism drought expected to reduce European luxury sales
LVMH said it expects revenues to drop by 10 to 20 percent year-on-year in the first quarter of 2020, as restrictions to combat the Covid-19 pandemic have forced the group to close production sites and stores in several countries. Separately, the bank RBC Europe said that overall global retail sales ...
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News briefs
Rhenoflex names Marco de Gier director of marketing and sales
The German shoe component manufacturer Rhenoflex has appointed Marco de Gier as its new director of marketing and sales for global footwear. His task will be to guarantee “further professionalization of the global sales operations of the Rhenoflex Group, the expansion of international customer relations in the US, Europe and ...
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News briefs
Sanita donation
Sanita, the brand specializing in professional clogs, has announced that it will be donating a part of every purchase from April 3 through the end of the month to support medical providers and hospitality workers, in connection with the ongoing coronavirus crisis. These professional categories also happen to ...
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News briefs
Neiman Marcus debt ‘unsustainable’
The credit rating of the iconic American department store was downgraded by S&P as the U.S. retailing industry suffers the impact of the novel coronavirus Covid-19 pandemic. Meanwhile, Moody’s cut its rating for J.C. Penney.
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News briefs
Havaianas for healthcare workers
Alpargatas, the Brazilian group that owns the Havaianas brand, has converted its production lines to produce clogs for the medical sector. The company will donate 18,000 pairs of shoes designed for use by healthcare professionals in São Paulo hospitals, made in the Havaianas factories in place of flip-flop sandals. Through ...
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News briefs
France faces a significant rise in bankruptcies
A French legal information provider Infolegale, said that France faces the risk of experiencing a first “significant” wave of corporate bankruptcies from the end of April as the most fragile companies succumb to the economic impact of the Covid-19 pandemic. Based on bankruptcy rulings issued between April 1 and 3, ...
