Latest News Briefs – Page 66
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News briefs
Santoni appoints Eraldo Poletto as CEO
Santoni has appointed Eraldo Poletto as chief executive, the first non-member of the Santoni family to hold the position. With the appointment, Giuseppe Santoni transitions to chairman and executive president of the family-owned Italian brand of high-end shoes. Poletto, who is already a member of Santoni’s board, is a veteran ...
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Piquadro FY net profit up 46%
Piquadro said that in the full year ended March 31 its net profit rose by more than 46 percent to €6.5 million euros as sales grew by 17.5 percent to €175.6 million euros. EBITDA totaled €27.7 million euros, up from €25.3 million a year earlier, while adjusted EBITDA increased by ...
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News briefs
Bally names Simone Bellotti as design director
Bally has appointed Simone Bellotti as design director, replacing Rhuigi Villasenor who left the company in May after a tenure of just over a year. He will debut his first collection during the Milan Fashion Week in September. Bellotti spent 16 years at Gucci before joining Bally in October 2022. ...
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VF launches its largest distribution center
VF Corporation launched operations at its new distribution center in Ontario, California, employing approximately 550 people during peak periods. The new 1.2 million square foot facility is the largest and most efficient within the group’s global network of 46 distribution centers, according to VF. The facility has the capacity to ...
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Permira reportedly mulls selling Golden Goose
The private equity Permira is exploring the sale of Golden Goose for over €2.5 billion, according to the news agency Bloomberg. In 2020, the private equity bought the Italian sneaker brand from Carlyle for €1.28 billion.
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News briefs
Holding Moda plans to buy 2 Italian manufacturers of shoe uppers
Holding Moda, the investment vehicle created in 2018 by Hind-Holding Industriale, plans to buy two Italian producers of shoe uppers, said Claudio Rovere, the founder and chairman of Hind in an interview with the daily MF. Earlier this year, Holding Moda bought a majority stake in Beste, an Italian manufacturer ...
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New insole material from coffee grounds
Performance foam manufacturer Dahsheng Chemical has launched Dreamcell Xpresso, a foam technology made with spent coffee grounds. The company described the eco-friendly insole material that results from the Dreamcell Xpresso polyurethane open-cell foam as “a superior footwear product.” More in Outdoor Industry Compass.
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News briefs
Scarpa's FY sales reach €169m
Scarpa posted consolidated sales of €169 million for 2022, which marks a 26 percent increase from 2021. The Ebitda of €21.5 million compares to an Ebitda of €18.8 million in 2021. In 2022, the Italian outdoor footwear specialist further strengthened its commitment to sustainability through the launch of LIFE Re-Shoes, ...
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New Balance invests $65m to expand factory in Maine
New Balance has announced a $65 million investment to expand its current athletic footwear manufacturing facility in Skowhegan, Maine. The expansion consists of an 11,150 square meter single-story addition to the existing five-story factory building, set for completion by the end of 2024, with around 1,900 square meters of the ...
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Shoe Zone sees FY adj pretax profit of at least £10.5m
Shoe Zone expects adjusted profit before tax for the financial year ending Oct. 2 to be not less than £10.5 million (€12.2 m). In the fiscal year that ended Oct. 1, 2022, reported pre-tax profits rose to £13.6 million from £9.5 million a year earlier, while adjusted pretax profit stood ...
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News briefs
Asos suppliers reportedly cutting ties over credit insurance worries
Suppliers to Asos are reportedly cutting ties with the fast fashion retailer over credit insurance concerns. They are responding to insurers reducing or withdrawing trade credit insurance following a slide in earnings at the British online fashion retailer. Allianz Trade is understood to have withdrawn cover entirely, while Atradius has ...
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Coats appoints BNP Paribas as joint broker
Coats, the British manufacturer of industrial thread and footwear components, has appointed BNP Paribas as its joint corporate broker alongside Peel Hunt, its existing corporate broker, with immediate effect.
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News briefs
Vibram launches eco-friendly FiveFingers models
Vibram, the Italian manufacturer of high-performance soles, continues to reduce its environmental footprint by “sustainably making over” two of its Vibram FiveFingers barefoot shoe models, the FiveFingers KSO Eco and the Vibram FiveFingers Vi-B Eco. To do so, the R&D department has developed eco-friendly rubber compounds and is using new, ...
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News briefs
Sorel’s president steps down
Columbia Sportswear Company announced that Mark Nenow, president of the Sorel brand, has resigned to focus on his health. Nenow joined the company in 2007 to lead footwear. He recognized a unique opportunity to transform the Sorel brand, from primarily a men’s winter work boot to a fashion-forward, all-season women’s ...
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Asos out of fashion as shares dumped from FTSE 250
The British fast fashion retailer Asos, once valued at more than £7 billion (€8bn), has been relegated from London’s FTSE 250 index of mid-sized companies, a sign of how its performance has declined in the post-Covid pandemic recovery. Its shares were worth 333 pence each on June 1, giving it ...
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Asos reportedly received a more than £1bn takeover approach in December
The Sunday Times reported that Asos had last December received a more than £1 billion (€1.5bn) approach from Trendyol, a Turkish company backed by the Chinese online giant Alibaba. A deal would have valued the British retailer at between £10 (£11.6) and £12 (13.9) per share, valuing the company at ...
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Gabor’s CEO Achim Gabor resigns
Achim Gabor, the CEO of the German shoe manufacturer Gabor Shoes AG, announced that he will be leaving the company by mid July 2023 for health reasons. Business operations will continue without restrictions, the Rosenheim-based company said in a statement. “All our customers, suppliers and partners can rely ...
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News briefs
Reno’s Swiss subsidiary also files for bankruptcy
Just weeks after Reno and its Austrian subsidiary filed for bankruptcy, the German shoe retailer’s Swiss subsidiary has followed suit at a cantonal court in Zug. The future of the company’s 65 employees and 16 branches is now uncertain. Reno’s Swiss subsidiary was caught up with the same problems ...
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News briefs
Uwe Decker joins Solidus as CEO
The German shoe retailer Solidus announced a change at its helm. The Tuttlingen-based company has appointed an industry veteran, Uwe Decker, as CEO, succeeding Yvonne Breinlinger-Scheuring effective from Aug. 1, according to a statement. Over the course of his long career, Decker has held various management positions at well-known ...
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News briefs
German retail association cuts 2023 online sales forecast
HDE, the German retail association, has cut its online sales forecast as persistently high inflation has dampened consumer sentiment amid a continued reluctance to spend. For 2023, HDE has slashed its forecast to €89.4 billion, a nominal increase of 5.8 percent from the 2022 level. The previous forecast was ...
