Latest News Briefs – Page 76
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News briefs
Scarpa and Politecnico di Torino collaborate on foot insulation
The Italian outdoor footwear specialist Scarpa and Politecnico di Torino are collaborating on a new project to develop a thermal insulation analysis model for mountaineering boots. To improve footwear performance, the project is defining a scale of thermal comfort for foot insulation in severe cold. To aid development, Scarpa and ...
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JD Sports unveils plans for sales growth, rapid store expansion
JD Sports Fashion has revealed plans to grow revenues and margins by double digits over the next five years alongside a rapid store expansion, The plan also includes capital expenditure of £500-600 million (€560-673m) a year, with 50-60 percent of the spend focused on store expansion in underpenetrated markets. This ...
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Amazon Q4 revenues top forecasts while profit decreases
Amazon posted net sales of $149 billion for its fourth quarter ended Dec. 31, 2022, for a 9 percent increase compared with the fourth quarter of 2021. Revenues topped forecasts and were driven by “a record-breaking holiday season,” the company said. The company expected fourth-quarter net sales of $140.0 to ...
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News briefs
Turkish inflation slows down in January
Turkey’s annual inflation slowed down in January to 57.7 percent from 64.3 percent in December, according to the statistics office Tuik. It is the third month in a row that annual inflation declines. In January, clothing and footwear was the segment with the lowest annual increase, rising by 24.24 percent. ...
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News briefs
Sosandar’s chairman passes away
The British fashion brand Sosandar said that its non-executive chairman, Bill Murray, has passed away. “It is with great sadness that we learned of the passing of Bill over the weekend. He will be deeply missed by all who had the privilege of working with him. Bill has left a ...
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Prada was the hottest brand in Q4
For the first time, Prada was the hottest brand in the world the fourth quarter of 2022, overtaking Gucci that slipped into second position, according to The Lyst Index. Moncler surged to third position from 17th in the fourth quarter and Miu Miu, which is part of the Prada Group, ...
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News briefs
Ara Shoes creates a new sales position to serve retail partners
Ara Shoes reshuffled its sales team, appointing Sven Krafft to the newly created position of “sales manager for specialist retailers Germany” effective from Jan. 1, 2023. With the organizational overhaul, the German shoe company aims to strengthen the specialist trade division in the country following the introduction of the ...
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News briefs
LVMH’s FY fashion and leather goods organic sales up 20%
LVMH saw organic sales of its fashion and leather goods division rise by 20 percent in 2022. On a reported basis, the division of the French luxury goods conglomerate posted increased sales by 25 percent to €38.648 billion. The division’s full-year profit from recurring operations grew by 22 percent to ...
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News briefs
Castañer’s FY sales rise 25%
Castañer posted a 25 percent increase in revenues to €24 million in 2022, lifting the top line of the Spanish footwear company back to pre-Covid-19 levels. The company noted that online sales grew by more than 20 percent year-over-year.
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News briefs
Dee Ocleppo teams up with Titan Industries
Dee Ocleppo Hilfiger, the U.S. American fashion designer and entrepreneur married to Tommy Hilfiger, has joined forces with Titan Industries to expand her Dee Ocleppo collection. The partnership will start with footwear and expand into other categories, including handbags. Titan will oversee sourcing, manufacturing and logistics to expand the brand ...
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News briefs
Paco Rabanne dies at 88
The Spanish designer Paco Rabanne passed away on Feb. 3, 2023, at the age of 88, announced Puig, the Spanish group that owns the brand’s fashion and fragrance businesses. Rabanne died in the village of Portsall, in the French region of Brittany, where he lived. Born in Spain on Feb. ...
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Nike launches a sneaker with Tiffany
Nike and Tiffany & Co. are releasing a Nike x Tiffany & Co Air Force 1 1837 sneaker, with a limited-edition sterling silver accessories range. The collaborative sneaker, made of black suede, features a Tiffany Blue-colored swoosh and sterling silver badges over each heel. The accessories include a shoe horn, ...
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Adidas launches a new label
Adidas has launched a new label, Adidas Sportswear, “curated to serve the next generation.” The spring/summer release includes a reimagined tracksuit, a silk-like striped dress and a shoe made in part with recycled materials. Designed for everyday wear but described as “sporty in essence” the pieces come with added performance ...
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News briefs
JD Sports leaves South Korea but plans major expansion in U.S. and Europe
JD Sports Fashion is leaving South Korea after five years in the market, according to multiple press sources. The decision has reportedly been made in connection with the negative impact of the Covid-19 pandemic. The British sporting goods retailer operated in South Korea through a partnership with Shoemarker, and opened ...
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News briefs
Aku posts 28.6% sales growth in 2022
Aku posted revenues of €29.2 million in 2022, representing a 28.6 percent increase from the previous year, primarily driven by international sales. Export accounted for 82 percent of the company’s sales. Europe recorded a 14 percent sales increase, while Asian sales jumped by 99 percent. In 2022, the Italy-based outdoor ...
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Nike sues Lululemon for alleged patent infringement in footwear
Nike Inc. is suing Lululemon Athletica, claiming that at least four of Lululemon’s footwear products infringe its patents. In a complaint filed in Manhattan federal court, Nike alleges that Lululemon’s Blissfeel, Chargefeel Low, Chargefeel Mid and Strongfeel sneakers infringe on Nike’s patents related to its Flyknit technology, with reference to ...
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Pakistan's inflation at 48-year high
Pakistan’s consumer prices grew by 27.6 percent on a year-on-year basis in January compared to an increase of 24.5 percent in the previous month and a 13.0 percent rise in January 2022, according to the Pakistan Bureau of Statistics. It was the highest annual inflation rate since May 1975. Month-on-month, ...
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Florence buys an Italian shirt maker
Gruppo Florence, an Italian holding company that owns suppliers to the luxury goods industry, has acquired Sipaff, an Italian producer of luxury shirts. Financial details of the acquisition were not disclosed. Sipaff produces over 250,000 shirts a year and is expected to post annual revenues of about €14 million. Sipaff ...
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Legero United fills key management positions
The Austrian-based footwear group Legero United has filled further key positions within its management team. Anna Carbonari, a shoe professional who has been with Legero United since 2011, took over sales management for the entire DACH region, which covers Germany, Austria and Switzerland, including the company’s own-brand stores, as ...
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U.K. competition regulator to probe Farfetch purchase of YNAP stake
The U.K.’s competition regulator is probing Farfetch’s deal to buy a stake in the online retail business Yoox Net-a-Porter (YNAP) from the luxury goods giant Richemont. The Competition and Markets Authority (CMA) is now examining whether the deal to sell a 47.5 percent stake in YNAP to the online retailer ...
