Latest News Briefs – Page 75
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News briefs
Snipes invests in a new logistic center
The sports and lifestyle retailer Snipes is building a new service and logistics center in Bedburg, Germany, in order to be positioned for the planned expansion of the company. The construction is the largest logistics investment ever made by the sneaker and streetwear retailer. According to the company, Snipes is ...
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News briefsBoohoo revamps executive incentive plan after share price drop
Boohoo has launched a new performance plan for senior managers after deciding previous targets were too hard to reach given the collapse in the company’s share price. The British online fashion retailer said its existing incentives had “little or no value” as shares had to reach at least £5 (€5.62) ...
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News briefs
Desenrasco launches sustainable, resoleable sneakers
The German footwear brand Desenrasco has embarked on the path of sustainability with the launch of a new welted sneaker that is intended to blend durability with repairability. The limited-edition sneaker, which is made entirely of vegetable-tanned leather in a family-run factory in Portugal, can be resoled. The ...
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News briefs
Spain clears paid menstrual leave
The Spanish parliament has approved legislation authorizing a paid menstrual leave for women suffering severe period pain. It is the first European country to introduce such a measure. Lawmakers also cleared legislation allowing anyone aged 16 or more to change their gender on their national identity card with a simple ...
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News briefsKering’s FY sales rise by 15% driven by Yves Saint Laurent
Kering’s 2022 revenues rose by a reported 15 percent, and by a like-for-like 9 percent, to €20.351 billion. Comparable sales for the directly-operated stores of the French luxury goods group increased by 10 percent, driven by Western Europe and Japan. Among the group’s leading brands, comparable revenues inched up ...
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News briefs
Louis Vuitton names Pharrell Williams as creative director for the men’s collection
Louis Vuitton has appointed the American singer and fashion designer Pharrell Williams as the creative director of its men’s collection with immediate effect. His first collection with the French fashion house will be revealed in June during the men’s fashion week in Paris. ”Pharrell Williams is a visionary whose creative ...
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News briefsCaleres’ FY sales reach nearly $3bn
After a stronger-than-anticipated performance during the year-end holiday season, Caleres is providing preliminary results for fiscal 2022 that exceed its previous expectations and set another record year for the company. Caleres now expects consolidated sales of approximately $2.97 billion, up by 7 percent year-over-year. Previous expectations were for growth of ...
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News briefsOTB continues to grow and mulls an IPO
The Italian fashion group OTB posted a double-digit growth rate in sales last year and announced that it is open to the possibility of an initial public offering. In 2022, revenues grew by 14 percent to €1.743 billion, while net sales rose by 12 percent to €1.630 billion, driven by ...
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News briefs
Walmart may close 3 technology hubs in the U.S.
Walmart plans to close three of its U.S. technology hubs, according to The Wall Street Journal citing memo sent by Suresh Kumar, the global chief technology officer of the American retailer, to staff. The hubs that are due to be closed are located in Austin, Carlsbad and Portland. Walmart will ...
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News briefs
Snipes appoints a COO
Peter Buse has been appointed chief operating officer of Snipes, a new role at the Cologne-based sneaker and streetwear retailer. Most recently, Buse held the same role at Momox, from July 2019 to July 2022. He previously worked at Netrada, also as COO, and at Arvato as logistics manager. This ...
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News briefs
Skechers opens 2 more stores in Spain
Skechers is planning to open new stores in the Spanish cities of Jerez de la Frontera and Valencia this year, according to Palco23. The store in Jerez will have a surface area of 256 square meters while the one in Valencia, within the Bonaire Outlet shopping mall, will have a ...
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News briefsNice Footwear’s key shareholders own 97.47% of the company
Following a public tender launched to delist Nice Footwear, 97.47 percent of the capital of the Italian footwear company is owned by its key shareholders as well as 94.94 percent on warrants. The public tender launched by the Italian private equity firm Palladio Holding. It started on Jan. 9 and ...
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News briefs
Hong Kong Jiahe International obtains financing for Java factory
Hong Kong Jiahe International, a wholly-owned subsidiary of the Taiwanese shoe manufacturer Yuqi International, which produces outdoor footwear for customers such as Under Armour, Decathlon and The North Face, has obtained funding to build an $83 million shoe factory in Indonesia, Footwearbiz reported. The loan, provided by a pool of ...
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News briefsIndian footwear exports surge
In the nine months running from April to December 2022, Indian exports of leather products and footwear rose by 16.55 percent year-over-year to $4.092 billion. In rupee, the increase reached 24.99 percent, according to the Council For Leather Exports (CLE). During the period, exports of leather footwear grew by 26.56 ...
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News briefs
U.K. online footwear sales rise 4.7%
Footwear posted a 4.7 percent year-on-year rise in online sales in the U.K. in January, the only subcategory in clothing to enjoy an annual increase during the month, according to the IMRG Online Retail Index. Total online sales in clothing were down by 4.5 percent year-over-year in January. Overall ...
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News briefsAsos hires ex Matchesfashion finance boss as interim CFO
Asos has appointed former Matchesfashion chief financial officer Sean Glithero as its new interim CFO as the British online fashion retailer pursues its ‘Driving Change’ transformation programme. Glithero will replace the current interim CFO Katy Mecklenburgh, who leaves in May. He has already joined the company to allow for a ...
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News briefs
Piquadro sees FY sales at €170-175m
Piquadro reported revenues of €126.8 million in the first nine months ended Dec. 31, up by 15.9 percent compared to the year earlier. The figures were in line with preliminary figures released in January. Piquadro’s net financial positive was positive for €14.6 million, compared with a positive figure of €13.9 ...
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News briefsVibram's FY sales up over 30%
Vibram recorded sales of €300 million in 2022, representing an increase of more than 30 percent from 2021, FashionNetwork.com reported. The increase was driven by sales growth across all the main markets and product categories. The U.S. market accounted for 50 percent of the company’s sales. E-commerce sales accounted for ...
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News briefsSaucony turns 125 and celebrates with new release
Saucony is celebrating its 125th anniversary with the release of its “lightest, fastest and energy-efficient shoe.” Endrophin Elite Source: Saucony The Endorphin Elite combines PWRRUN HG foam with an articulated and forked carbon plate, an upper of knitted fabric and mesh, and a “race-ready” midfoot webbing. The ...
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News briefsSosandar plans to raise £4.5m
Sosandar plans to raise gross proceeds of £4.5 million (€5.6m) by issuing new ordinary shares. The British fashion brand plans the placing of at least 18,181,818 new ordinary shares via an accelerated bookbuild at a price of 22 pence (€0.25) per share in order to raise minimum gross proceeds of ...
