Latest News Briefs – Page 90
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News briefs
Pollini’s H1 sales surge
Pollini, the luxury footwear brand owned by the Italian fashion house Aeffe, posted sales of €16.5 million in the first half of 2022 compared with €11.2 million a year earlier. Meanwhile, Aeffe booked revenues of €176.5 million during the period, up by 13.9 percent on the year earlier on a ...
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News briefs
Rebag expands into shoes
The luxury re-commerce platform Rebag is expanding into two new categories, shoes and apparel. The company said that the move will enable it to offer ”all luxury accessories for both men and women.” Rebag will buy and sell shoes, including sandals, sneakers, heels, boots, and loafers, as well as select ...
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News briefs
Footwear was Prada’s fastest growing category in H1
Footwear was the fastest growing category for the Prada Group in the first half of 2022, rising by 39 percent year-over-year at constant currency rates to represent €320 million in retail sales. Meanwhile, ready-to-wear was up by 31 percent to €461 million and leather goods increased by 18 percent to ...
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News briefs
Hermès H1 sales up 29%
In the first half of 2022, Hermès’ attributable net income rose to €1,641 million from €1,174 million a year earlier as revenues reached €5,475 million, up by 29 percent at current rates and by 23 percent at constant rates. Sales for the leather goods and saddlery business totaled €2,358 million, ...
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News briefs
Most Americans to spend more on shoes during back-to-school season
A survey carried out by the Footwear Distributors and Retailers of America (FDRA) and First Insight showed that 78 percent of American families plan to spend more or the same as last year on children’s shoes during the back-to-shool season. According to a survey of 691 households with children attending ...
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News briefs
Merrell’s ReTread take-back program starts in Europe
Merrell’s sustainability initiative “This Is Home,” launched earlier this year in the U.S. and Canada, has been introduced in Europe. As part of the “This Is Home” initiative, Merrell is rolling out, in partnership with ReCircled, a multinational product take-back and resale program called Merrell ReTread to save ...
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Aquafil and Genomatica advance on plant-based nylon-6
Aquafil and Genomatica have been collaborating to produce pilot-scale quantities of plant-based nylon-6 and have announced that they have now successfully completed the first demonstration-scale production runs. This will help determine the final design of future commercial plants and constitutes a step closer to the commercialization of the material. Plant-based ...
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News briefs
Amazon Q2 sales rise 7%
Amazon significantly increased its revenue in the second quarter despite high inflation and recession worries. Revenues increased by 7 percent year-on-year to $121.2 billion. Although operating profit fell from $7.7 billion to $3.3 billion, it exceeded experts’ expectations. On the bottom line, Amazon posted a net loss of $2.0 billion, ...
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News briefs
Siro Badon resigns as head of Assocalzaturifici
On July 26, Siro Badon resigned as president of the Italian footwear association, Assocalzaturifici. Elected in June of 2019, he resigned for ”personal and professional reasons as a result of his workload in his company, which prevents him from continuing to guarantee constant availability for the association,” Assocalzaturifici said in ...
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News briefs
Shoe Zone improves its FY guidance
Shoe Zone has increased its full-year guidance and now expects adjusted profit before tax to be not less than £9.5 million (€11.5m). The forecast excludes the profit on the sale of freehold property and foreign exchange revaluations. The previous guidance for the full year ending on Oct. 2 was for ...
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News briefs
Kizik raises $20m in a series B fund round
Kizik, based in Lindon, Utah, has completed a $20 million series B funding round led by the private equity The Newcastle Network. The American footwear brand, whose parent company is HandsFree Labs, specializes in slip on shoes. It will use the funds to launch a Kizik Kids line and to ...
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News briefs
Manolo Blahnik wins Chinese trademark battle
Manolo Blahnik has won a 22-year dispute to use its name in China. China is a “first to file” jurisdiction, meaning that the businessman Fang Yuzhou had obtained the rights to the brand’s name in 2000 following an application made in 1999. But in December 2020, the Supreme People’s Court ...
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News briefs
JD Sports like-for-like sales up 5%
JD Sports Fashion said that total sales in like-for-like businesses were up by 5 percent year-over-year in the period ending June 30, which corresponds to the first five months of its fiscal year. The group confirmed its guidance for the fiscal year ending Jan. 28, 2023 of profit before ...
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News briefs
Naot Footwear to open a flagship store in New York
Naot Footwear, an Israeli footwear company, plans to open a flagship store in New York City’s SoHo neighborhood in early fall 2022. The 800 square-foot store will be located 436 West Broadway, in the heart of SoHo, alongside the city’s most iconic boutiques. The brand claims it ”has long had ...
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News briefs
Zalando names new head for German-speaking countries
Christoph Lütke Schelhowe, a former McKinsey associate principal, is Zalando’s new general manager for the German-speaking markets. Schelhowe has been with the company for almost ten years in different positions, most recently VP, demand – customer acquisition and engagement. He replaces Florian Jodl, who resigned.
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News briefs
CMA CGM cuts freight rates for French imports, exports
The French shipping company CMA CGM is cutting freight costs for imports and exports to and from France. The company is cutting freight rates by €750 per container for imports from Asia to metropolitan France and for all imports by French overseas territories. CMA CGM is also reducing the cost ...
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Bernard Arnault to reinforce control over LVMH parent company
The French businessman Bernard Arnault plans to transform Financière Agache, a family holding company which controls the French luxury goods conglomerate LVMH, into a limited partnership. The move will enable the businessman and his five children to maintain control over the group. “The LVMH group is a family-based group whose ...
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News briefs
Coats completes the acquisition of Texon
On July 21, the British industrial thread manufacturer Coats announced that it had completed the acquisition of Texon, a U.S. footwear solutions provider. Coats bought Texon at an enterprise value of $237 million and a total net cash consideration of $211 million. The acquisition is based on an Ebitda multiple ...
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News briefs
French footwear sales plunge in June after a strong May
Footwear sales dropped by 9.0 percent month on month in June, on a seasonally and working-day adjusted basis, the sharpest decline among the categories monitored by the Bank of France to gauge retail trade. In May, footwear had been the best performing category with a 7.5 percent rise. Overall retail ...
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News briefs
Aldo completes its restructuring
On July 14, Aldo Group exited from its restructuring process initiated in May 2020 when it filed for protection under Canada’s Companies’ Creditors Arrangement Act. “It is with great relief that we put this process behind us, and with excitement that we now look ahead. The work and restructuring we’ve ...
