Latest News Briefs – Page 81
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News briefs
Primark on track to open 27 stores in its fiscal year
Associated British Foods, the conglomerate that owns Primark, said that so far in the fiscal year, which started on Sept. 18, 2022, the trading performance of the clothing retailer “has been encouraging.” Primark is on track to open 27 new stores in the fiscal year, ten of them opening in ...
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Christian Dior names Antoine Arnault CEO
The French fashion house Christian Dior, a unit of the luxury goods conglomerate LVMH, has named Antoine Arnault as chief executive and vice chairman of the board, succeeding Sidney Toledano. The company said that the nomination was made in the context of the conversion on Dec. 6 of Financière Agache, ...
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The parcel delivery firm Maergo raises $20m in seed round
Maergo, a U.S. parcel delivery platform previously known as X Delivery, has closed a $20 million seed round. Lead investors included Deep Lake Capital, funds managed by investor and entrepreneur Neel Shah, and ACR Strategic Credi, with participation from RyderVentures, the venture capital arm of Ryder System. With the closing ...
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Rocky Brands names a new director, downsizes its board
Rocky Brands has appointed Dwight E. Smith as a Class I director of the company, effective as of Jan. 1, 2023. Smith has served as the president and CEO of Sophisticated Systems since July 1990. He has also served as a member of the board of The Federal Reserve Bank ...
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News briefs
Birkenstock opens fourth U.S. store
Birkenstock has opened its fourth company-owned store in the U.S. in the Marin Country Mart in Larkspur, California. The German brand’s other U.S. stores are in Brooklyn and SoHo in New York and Venice Beach, California.
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Allbirds announces promotions within its executive leadership team
Allbirds has announced promotions within its executive leadership team. Kate Ridley, chief brand officer, has been promoted to chief brand and product officer. Benny Joseph, chief technology officer, has been promoted to chief technology and culture officer. Co-CEO Tim Brown will expand his focus to include leadership of Allbirds’s innovation ...
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News briefs
Puma appoints a new chief product officer
Puma is appointing Maria Valdes as chief product officer and a member of the board of management effective January 1, 2023. In her new role, Valdes, who is currently the general manager of the German company’s largest business unit Sportstyle, will be responsible for the business units Sportstyle, Motorsport, Teamsport, ...
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China eases Covid-19 restrictions
China announced a general relaxation of Covid-19 health rules, authorizing patients with mild symptoms and for asymptomatic cases to quarantine at home. Previously, such cases were sent to mass quarantine centers. The National Health Commission also indicated that negative PCR test results will no longer be needed for domestic travel ...
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Prada confirms Andrea Guerra’s appointment as CEO
Prada said that it will appoint Andrea Guerra as its next chief executive officer, replacing the current co-CEOs, the designer Miuccia Prada Bianchi and her husband Patrizio Bertelli, confirming reports in the Italian media. The board of the Italian fashion house scheduled on Jan. 26 will recommend Guerra for the ...
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Alibaba launches new marketplace in Spain
Chinese e-commerce giant Alibaba launched a new marketplace called Miravia in Spain on Dec. 1. It connects brands and content creators with consumers. The platform offers fashion, beauty, food and lifestyle products. Earlier this year, Alibaba expanded its existing online marketplace Lazada to Europe, now Miravia was launched in addition. ...
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U.K. faces a year-long recession
The U.K.’s gross domestic product is likely to contract by 0.4 percent in 2023. The country is estimated to have entered into an economic recession in the third quarter of 2022 that will last until the end of next year, according to the Confederation of British Industry (CBI). The CBI ...
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News briefs
Boohoo enters the Indian market with Myntra
Boohoo is entering the Indian market through a partnership with the e-commerce platform Myntra. The British fast fashion group is launching the brands Boohoo, Dorothy Perkins and Nasty Gal on the Indian platform. The three brands will offer over 1,500 styles cross categories such as dresses, tops, bottoms and footwear. ...
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Newly launched SneakerCycle has over 33,000 pairs in stock
The recently launched U.S. resale platform SneakerCycle has more than 33,000 pairs in inventory. The average selling price of its shoes is $45. The business was created by Steven Salstein and Eric Mesa and has a 40,000 square foot warehouse in Miami. The two partners previously created GotSneakers which collects ...
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News briefs
Intershoes Portugal attracts over 195 exhibitors
The first edition of Intershoes Portugal, scheduled from March 14 to 16 at Exponor, Porto’s exhibition center, has attracted more than 195 exhibitors from over 20 countries, according to the organizers, B Group US. The event will bring together professionals from the footwear industry along with providers of leather, leather ...
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Micam holds a road show in December
Micam, the footwear trade fair held at the Fieramilano Rho exhibition center at the outskirts of Milan, is holding a road show to promote the next edition of the event scheduled from Feb. 19 to 22. On Dec. 1, the first of three teaser events scheduled in December was held ...
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Primark unveils €100m Spanish investment plan
Primark plans to invest €100 million in opening new stores and refurbish existing ones in Spain. The Irish clothes retailer, owned by Associated British Foods, will open eight new stores throughout the country, including the island of Lanzarote and the enclave of Melilla, Primark said in a statement. As part ...
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Next buys fashion retailer Joules, saving 1,450 jobs
The British apparel and footwear chain Joules has been bought out of administration by its founder Tom Joule and Next in a deal that will save 1,450 jobs. Next will buy around 100 Joules shops for £34 million (€39.5m) and take a 74 percent stake in the company after a ...
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News briefs
Directa Plus sees FY sales at least €10m
Directa Plus, an Italian producer and supplier of graphene nanoplatelets based products for use in consumer and industrial markets, expects to finish 2022 with sales of at least €10 million, up by 16 percent from the €8.6 million booked in 2021. The company said that it will enter 2023 with ...
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News briefs
Nike stores re-open in Russia under a new banner
The first Nike store was re-opened in Russia under the banner Nike Sport Point in the Outlet Village shopping center in Moscow. On June 23, Nike announced its decision to pull out from Russia in the wake of the country’s invasion of Ukraine. Following the move, the Cheryomushkinsky Court of ...
