Latest News Briefs – Page 89
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News briefsMexico footwear industry faces slow recovery
Mexico’s footwear industry may not return to pre-Covid-19 production levels before 2024, according to Ignacio Irurita, vice president of the local trade association Canaical. The country produced 190.5 million pairs of shoes in 2021, up about 20 percent from 2020 but about 60 million pairs less than in 2019. Irurita ...
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News briefs
U.S. footwear imports rise sharply in H1
Trade data released by the U.S. Census Bureau and the U.S. Bureau of Economic Analysis showed that in first half of 2022, seasonally-adjusted U.S. footwear imports rose to $13,576 million from $9,451 million a year earlier. In the sole month of June, imports reached $2,449 million against $2,580 million in ...
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News briefs
Allbirds appoints a Nike veteran to its board
Allbirds appointed Ann Freeman to its board of directors, effective Aug. 16. Freeman is an industry veteran who spent more than 26 years at Nike, where she held multiple leadership positions across all major global markets. Most recently, she was VP and GM of North America, Nike’s largest market, where ...
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News briefs
Veja launches a shoe repair service in Berlin
On Sept. 1, a sneaker repair shop will come on stream in the newly opened Veja store in Berlin-Mitte. The repair service will be available to Veja sneakers and other brands. Veja’s store is located at Alte Schönhauser Str. 42, and is open Monday through Saturday from 10 am. to ...
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News briefs
TJX’s sales decline in Q2 and are expected to be weak in H2
TJX rerported that in the second quarter ended July 30 net sales fell by 2 percent year-on-year to $11.8 billion as U.S. comparable store sales decreased by 5 percent. Net income for the second quarter was $809 million, and diluted earnings per share (EPS) were $0.69 versus $0.64 a year ...
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News briefsAsos’ COO and CFO Mat Dunn steps down
Asos’s chief operating officer (COO) and chief financial officer (CFO) Mat Dunn and the board of the British fashion online retailer have agreed a phased plan under which the manager will step down from his roles as the company restructures its executive team. The announcement comes two months after the ...
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News briefsVulcabras’ sales, profits soar in Q2
Vulcabras’ net income rose by 207 percent to 95.0 million Brazilian reais (€18.1m) from R$30.9 million for the period ended June 30. Operating earnings (Ebit) increased 73 percent to R$236.2 million (€45.1m). Ebitda was 30 percent higher at R$133.4 million (€25.5m) as the year-on-year gross margin percentage improved to 36.0 ...
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News briefsThredUP loses $28 million in Q2, to axe 15% of headcount
ThredUP, a Californian company operating in the apparel resale market that also provides a platform for third-party brands, announced its financial results for the second quarter ended June 30. Revenues increased by 27 percent to $76.4 million, while active buyers increased by 29 percent to 1.7 million. The gross margin ...
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News briefs
Ferragamo partners with Farfetch
Salvatore Ferragamo has entered into a partnership with Farfetch as part of its plan to widen its audience and engage with younger consumers. The commercial agreement will enable Ferragamo to benefit from a global audience through Farfetch Marketplace and benefit from the services of Farfetch Media Solutions. Marco Gobbetti, Ferragamo’s ...
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News briefsAssocalzaturifici picks Giovanna Ceolini as acting president
Giovanna Ceolini has been appointed acting president of Assocalzaturifici, the Italian footwear association. She replaces Siro Badon, who resigned on July 26 for personal and professional reasons. Ceolini was chosen based on the association’s bye-laws that establishes that in the event of the early resignation of the president, he is ...
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News briefs
McLaren teams up with Athletic Propulsion Labs
British carmaker McLaren Automotive and Athletic Propulsion Labs (APL), a high-performance athletic footwear brand, have teamed up to create a new range of luxury footwear. The first offering from the collaboration is the limited-edition APL | McLaren HySpeed, a new silhouette designed as an all-purpose performance running shoe inspired by ...
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News briefs
Issey Miyake dies at 84
The Japanese designer Issey Miyake has died at the age of 84. Miyake was born in Hiroshima in 1938 and moved to Paris in the 1960s, where he worked with fashion designers Guy Laroche and Hubert de Givenchy. After moving to New York for a short time, he headed back ...
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News briefs
Lane Eight partners with Carbonfact to lower carbon footprint
Lane Eight, a U.S. performance footwear brand, has partnered with Carbonfact to achieve an assessment of its carbon footprint, which it aims to reduce to net zero by 2030. Lane Eight footwear is made using material such as eucalyptus, provided by Tencel, and algae, thanks to Bloom, as well as ...
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News briefs
ThredUP hires a chief marketing officer
U.S.-based company ThredUP, a large online resale service provider and platform for women’s and kids’ apparel, shoes and accessories, has hired Noelle Sadler as its chief marketing officer (CMO). She is the company’s first dedicated CMO in nearly five years and will report to president Anthony Marino, who previously oversaw ...
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News briefs
Spartoo completes minority stake purchase in SAAJ
Spartoo has completed the acquisition of a minority stake in the French brand SAAJ through a capital increase. No further financial details were released. SAAJ is a fast-growing digital native brand, founded in 2016 by Maelys and Jérémy. The investment will enable the SAAJ brand to accelerate its development, according ...
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News briefs
Global apparel and footwear sales to grow 2.6% a year
The size of the global apparel and footwear market is estimated at $1,395,930 million in 2021 and is forecast reach $1,496,720 million by 2028 with a compound annual growth rate of 2.6 percent between 2022 and 2028, according to a survey released by Absolute Reports.
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News briefs
Next Q2 sales ahead of expectations
In the second quarter ended on July 30, Next’s full-price sales rose by 5.0 percent versus last year and were £50 million (€59.4m) more than it had expected. The British apparel retailer maintained its full-price sales growth guidance second half at 1.0 percent. But, Next increased its full-year profit guidance ...
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News briefsCoats’ Apparel & Footwear sales up 21% in H1
The British thread manufacturer Coats posted sales of $801 million in the first half of 2022, up by a reported 14 percent and by 19 percent at constant currency rates driven by its Apparel & Footwear (A&F) division. The top line benefited from favourable underlying market conditions and early pricing ...
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News briefsJD Sports hires former Monoprix head as CEO
JD Sports Fashion has appointed Régis Schultz as its new chief executive officer. From August 2016 to July 2019, he was the head of Monoprix, a French city-center food and fashion retailer that is part of Groupe Casino. During his time there he launched and executed a new digital strategy, ...
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News briefs
Global Payments buys EVO
Global Payments, a U.S. provider of payment technology and software solutions, has reached an agreement to buy EVO for $34.00 per share. The bid represents a $4.0 billion of enterprise value for EVO. “The acquisition of EVO is highly complementary to our technology-enabled strategy and provides meaningful opportunities to increase ...
