Latest News Briefs – Page 87
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News briefs
Norway wealth fund asks invested firms for net zero by 2050
Norges Bank Investment Management, Norway’s sovereign wealth fund, will ask the over 9,000 companies in its investment portfolio to reach net zero emissions by 2050. ”We set a target of net zero emissions by 2050 at the latest for all companies,” said Carine Smith Ihenacho, chief governance and compliance officer ...
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News briefs
German producer prices at record highs
In August, German producer prices for the domestic market rose by 7.9 percent month-on-month and grew by 45.8 percent year-on-year, according to the statistics office Destatis. The monthly and annual readings are the highest on record. Annual producer price growth reached 37.2 percent in July and 32.7 percent in June. ...
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News briefs
Mike Ashley to quit Frasers Group’s board
Mike Ashley, the founder of Frasers Group, will not be standing for re-election as a director at the forthcoming annual general meeting (AGM) of the British retailer. He will therefore step down from the board upon the conclusion of the AGM on Oct. 19. Ashley will continue to be available ...
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News briefs
On unveils first shoe made from carbon emissions
In partnership with LanzaTech, Borealis and Technip Energies, Swiss sports brand On is launching a shoe called Cloudprime. Described by the company as “the first-ever shoe made from carbon emissions,” the Cloudprime is made of CleanCloud ethylene vinyl acetate (EVA) foam, which uses industrially emitted carbon as a raw material. ...
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News briefs
Global footwear market seen reaching $543.9bn by 2030
The global footwear market is expected to reach a size of $543.9 billion by 2030, thanks to a compound annual growth rate (CAGR) of 4.3 percent between 2022 and 2030, according to a report by Grand View Research, Inc. The research called “Footwear Market Size, Share & Trends Analysis Report ...
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News briefs
H&M’s Q3 sales decline in local currencies
In the third quarter ended Aug. 31, H&M generated net sales of SEK 57.450 billion (€5.38bn), up by a reported 3 percent, but down by 4 percent in local currencies. “The third quarter got off to a weak start, in common with the industry in many of the group’s major ...
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News briefs
Prada buys a stake in the tannery Superior
Prada has purchased a 43.65 percent stake in Superior, a Tuscan tannery specialized in calfskin processing, for an undisclosed amount. Superior has recently focused its investments on process digitization and a sustainable development plan centered on the circular economy, energy efficiency and water resource protection. According to the terms of ...
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News briefs
EU court hold ups decision to fine Google
The European Union’s General Court has upheld a decision made by the European Commission to fine the U.S. research engine Google and its parent company Alphabet for abuse of dominant position but cut the compensation to €4.125 billion from €4.340 billion. Alphabet is jointly and severally liable in the amount ...
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News briefs
EU plans to ban products made with forced labour
The European Commission has proposed to prohibit products made with forced labour on the European Union market. The proposal covers all products, including those made in the EU for domestic consumption and exports, and imported goods, without targeting specific companies or industries. “This comprehensive approach is important because an estimated ...
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News briefs
Instagram makes changes to its e-commerce options
Meta, the parent company of Instagram and Facebook, has announced another change to Instagram’s e-commerce options. According to an internal memo quoted by The Information, it plans to remove the platform’s “Shopping” page due to “shifts in company priorities.” Instagram plans to pivot toward a less personalized version of the ...
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News briefs
Economic sentiment worsens in Germany
In September, the economic sentiment index in Germany fell by 6.6 points to -61.9, as the economic outlook worsened significantly, according to the latest survey released by think tank ZEW. The assessment of the economic situation in Germany decreased sharply and currently stands at -60.5 points, 12.9 points lower than ...
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News briefs
Kolektive buys the U.K. footwear distributor 33 Joints
The investment company Kolektive Ventures, which trades under the name Projekt Indigo in the U.K., has bought a majority stake in the British footwear distributor 33 Joints in a move to establish its presence in the U.K. footwear market. Kolektive aims to help 33 Joints build up awareness for the ...
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News briefs
BasicNet to open “Basic Village” in Milan
The Italian group BasicNet will open its “Basic Village” in Milan on Sept. 21 during Fashion Week. The 4,500-square meter space will feature offices, showrooms, restaurants, commercial activities and lofts. BasicNet Group is the parent company of the Kappa, K-Way, Sebago and Superga brands. K-Way accounts for 65 to 70 ...
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News briefs
Spanish exports up 19.2% in first five months of 2022
In the first five months of 2022, Spanish exports rose by 19.2 percent year-over-year to €1,225.3 million. The data is also 3.3 percent above the first five months of 2019, before the outbreak of the Covid-19 pandemic, according to the Spanish footwear association Fice. Year-over-year, exports rose in all main ...
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News briefs
Volumental sales up 86%
Volumental, a Sweden-based global platform offering 3D foot scanners, announced that it has seen an 85 percent increase in revenue this year and that it scans half a million feet per month. With poor fit being the most common reason for shoe returns, stores that have implemented Volumental’s foot scanning ...
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News briefs
Saucony to boost its retail presence in Spain
Saucony, a brand of Wolverine Worldwide, is planning to open around 20 shop-in-shops at El Corte Inglés’ department stores across Spain between 2022 and 2023, Modaes has reported. Specifically, between ten and twelve units will open in the fourth quarter of 2022, devoted to its Originals product line. Six or ...
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News briefsGerman footwear manufacturers plan to increase prices
German companies intend to increase their prices ”on a large scale”, including footwear manufacturers, according to the latest survey from the economic research institute Ifo. A particularly large number of clothing manufacturers plan to raise their prices, with the indicator rising to 89.2 points, up from 84.6 points in July. ...
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News briefs
Calzedonia buys Antonio Marras
The Italian group Calzedonia has bought an 80 percent stake in the fashion house Antonio Marras. No financial details were released. Calzedonia said that it will help the development of the fashion house thanks to its expertise in retailing and production, as well as its financial strength. The designer Antonio ...
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News briefs
Unbound Group names a new CFO
The British retailer Unbound Group said that its chief financial officer (CFO), Dan Lampard, intends to step down from the role and the board from Oct. 1, to take up the position of CFO with another business. Gavin Manson, currently a non-executive director of the company, will take over as ...
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News briefs
Superga in co-branding venture with Alaïa
The Belgian fashion designer Pieter Mulier, Alaïa’s creative director since 2021, has reinterpreted two of Superga’s sneakers as part of a co-branding initiative between the fashion house established by the Franco-Tunisian stylist Azzedine Alaïaz and the Italian shoe brand owned by BasicNet. The 2750 and 2790 sneakers were chosen as ...
