Latest News Briefs – Page 68
-
News briefs
European consumer confidence picked up in April
Consumer confidence in Europe gained momentum in April, buoyed by cooling inflation, Dow Jones Newswires reported citing Morning Consult data. Confidence improved month-on-month in 13 of the 16 European economies tracked in data-intelligence company Morning Consult’s Index of Consumer Sentiment, ahead of 12 that improved in April. “The ...
-
News briefs
Richemont FY sales up 19%
Richemont said that in the year ended March 31, sales reached a record high of €19.953 billion, up by a reported 19 percent and 14 percent higher at constant currencies driven by the retail business, up by 22 percent and 17 percent, respectively. The retail division represented 68 percent of ...
-
News briefs
Allbirds’ co-CEO Tim Brown demoted to chief innovation officer
According to a filing with the U.S. Securities and Exchange Commission, Allbirds indicated that its co-founder Tim Brown was stripped of his role of co-CEO and transitioned on May 4 to the non-executive position of chief innovation officer. With the decision, Joey Zwillinger, who was already co-CEO, becomes the sole ...
-
News briefs
Austria’s cities are losing retail space
Last year, the equivalent of 80 soccer fields of retail space, representing a total of 500,000 square meters, was lost nationwide in Austria, the annual S+M City Retail Health Check showed. Retail areas in the country’s city centers fell by 5 percent in 2022, while the vacancy rate increased to ...
-
News briefs
U.S. luxury spend continued to fall in April
Luxury spending in the U.S. continued to decline in April, with the lower end particularly hit, Citi said, citing its credit-card data. Spending on luxury goods in the country dropped by 18 percent year-over-year in April, the same pace as in March. ”Whether European local demand will follow the same ...
-
News briefs
JD Sports appoints a new CFO
JD Sports Fashion has announced the appointment of Dominic Platt as its new chief financial officer (CFO) and as a member of the board. Platt is expected to join the British retailer later this year. Platt is currently CFO of BGL Group, one of the U.K.’s leading digital distributors of ...
-
News briefs
THG ends talks to be bought by Apollo
THG has terminated talks to be taken over by the private equity Apollo Global Management. On April 17, THG announced that it had received “a highly preliminary and non-binding indicative proposal” from Apollo to acquire its entire share capital. Following the proposal, THG entered into a short period of discussion ...
-
News briefs
Sneaker re-selling platform WeTheNew launches a €20m funding round
French-based limited-edition sneaker re-selling platform WeTheNew has announced a €20 million capital funding round. The Series B funding round was led by C4 Ventures, along with Singular, the company’s historical investor and the investment arm of Chalhoub Group, Chalhoub Ventures & Acquisitions. Also supporting the venture is French national team ...
-
News briefs
Next’s Total Platform has a bright future
Next’s Total Platform is expected to boost the long-term financial estimates and valuation for the British fashion retailer, according to the broker RBC Capital Markets. The platform offers brands Next’s infrastructure and online services, including next day delivery, quick refunds and AI-driven search and recommendations, the broker pointed out. Currently ...
-
News briefs
Farfetch launches Reebok's European e-commerce
Farfetch, a leading platform provider for the luxury fashion industry, has announced that the partnership with Reebok to run its European e-commerce sites, announced following the sports retailer’s acquisition by Authentic Brands Group from Adidas in 2022, has now been implemented. The partnership announced at the time involves restructuring the ...
-
News briefsScarpe&Scarpe aims for €230m in revenues this year
Scarpe&Scarpe’s sales rose by 15 percent to €207 million in 2022 from €180 million a year earlier. The Italian footwear retailer said that sales started to pick up in the fourth quarter, when they reached €75.3 million. Scarpe&Scarpe expects to increase its sales to €230 million in 2023 as well ...
-
News briefsWhite Mountain and Cliffs in licensing deal with Iconic Footwear
White Mountain and its sister brand Cliffs by White Mountain have signed a licensing agreement with Iconic Footwear for the distribution of slippers, hanging flip flops, aqua socks and water shoes for women, men and kids. This new collections will mark White Mountain and Cliffs’ first foray into new product ...
-
News briefs
FitFlop in India opens 2 more stores
FitFlop in India, the division of the Indian footwear retailer Metro Brands Limited which distributes the British footwear brand FitFlop in the Asian country, said that it has opened two more stores in the cities of Ahmedabad and Coimbatore. The stores are located in the Palladium Mall, Ahmedabad, and ...
-
News briefs
Ted Baker in licensing agreement with Aldo
The American brand management company Authentic Brands Group (ABG) signed a long-term licensing agreement regarding the Ted Baker brand with the Aldo Group, a Canadian fashion retailer and wholesaler. Under the ageement Aldo will take on design, production and distribution of Ted Baker footwear and handbags at wholesale throughout ...
-
News briefs
The German shoe maker EOD files for bankruptcy
The German footwear manufacturer EOD, known for the Groundies shoe brand, has filed for bankruptcy. The company applied for insolvency proceedings with the Freiburg District Court as it seeks to continue restructuring to get back on a stronger footing. EOD was already undergoing restructuring after liquidity came under pressure ...
-
News briefsBoohoo reportedly asks suppliers for discounts in bid to cut costs
The British fast fashion retailer Boohoo has reportedly asked suppliers for discount on orders as it looks to manage costs. The Times newspaper reported that all suppliers received a call on Thursday requesting a 10 percent discount on all delivered and undelivered clothing orders. “This is major self-harm. They are ...
-
News briefs
BasicNet’s Q1 direct sales lifted by K-Way France acquisition
BasicNet’s Ebit was flat at €10.8 million in the first quarter while Ebitda improved by 5.5 percent to €14.8 million for the period that ended March 31. Consolidated revenues grew by 27.7 percent to €108.0 million, including 36 percent direct sales growth to €91.4 million, aided by the group’s April ...
-
News briefs
Lanvin increases its FY contribution profit
The Chinese luxury goods Lanvin Group, which owns various brands including the Italian shoemaker Sergio Rossi, said that its contribution profit, which corresponds to the gross profit less selling and marketing expenses, rose to €13.2 million in 2022, an improvement of about €9 million from the €4.4 million posted in ...
-
News briefs
Bangladesh’s footwear exports rise slightly but miss government’s targets
In the nine months from July 2022 to March 2023, Bangladesh’s exports of leather footwear fell by 0.88 percent year-over-year to $534.23 million but missed the government’s export target by 10.59 percent. Meanwhile, overall exports of leather and leather products rose by 2.56 percent over the period to $919.73 million ...
-
News briefs
Kering’s Q1 sales rise slightly
In the first quarter of 2023, Kering’s revenues totalled €5,077 million, up by 2 percent as reported and by 1 percent on a comparable basis. Revenues in the directly operated store network, including e-commerce, rose by 4 percent on a comparable basis. The increase was driven by good momentum in ...
