Latest News Briefs – Page 91
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News briefsDesigner Brands enters licensing agreement with Le Tigre
Designer Brands has entered a licensing agreement with Le Tigre 360 Global, that will add the Le Tigre label to its portfolio of ”owned brands”. The Ohio-based footwear company aims to double sales of the owned brands category by 2026. The current portfolio includes Vince Camuto, Reebok, Hush Puppies, Jessica ...
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H&M pulls out of Russia
H&M announced that it would start winding down its business in Russia. The move will cost the Swedish apparel retailer about SEK 2 billion (€190m), of which SEK 1 billion will impact its cash flow. The amount will be accounted as a one-time cost in the company’s third-quarter results. The ...
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News briefs
Richemont Q1 sales up 12% in local currencies
In the first quarter ended June 30, Richemont generated €5.264 billion in sales, up by a reported 20 percent year-over-year and 12 percent higher at constant exchange rates. At constant currency rates, retail sales for the Swiss luxury goods group were up by 18 percent, online retail sales rose by ...
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Görtz revisits its purchasing strategy
The German footwear chain Görtz has revamped its purchasing strategy and underwent a management change to match its positioning as an omnichannel retailer. According to the Hamburg-based company, the traditional way of planning purchases by brands is being replaced by purchases based on trends and a new management position ...
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Deckers appoints a new head for the fashion lifestyle division
On July 11, Anne Spangenberg started as president of fashion lifestyle at Deckers Brands. She will serve on the company’s executive leadership team, reporting directly to Dave Powers, chief executive officer and president of Deckers Brands. Most recently, Spangenberg was chief merchant for Nike. She will lead Deckers’ fashion lifestyle ...
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News briefs
Crocs wins a counterfeit case
Crocs has announced a judgment against USA Dawgs and Double Diamond Distribution stemming from the sale of counterfeit Crocs shoes by the two companies. In the case, Crocs also obtained damages of $6 million and $55,000, respectively, against the companies. The case is the culmination of years of litigation between ...
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News briefsHeydude unveils new logo and look
After being acquired by Crocs for $2.5 billion earlier this year, the casual footwear brand Heydude has on July 11 unveiled a new logo via its social media accounts that was co-determined by the brand’s fans through focus groups in the U.S., a consumer survey and discussions in online forums. ...
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GM Leather is listed on the Milan stock exchange
GM Leather, an Italian leather manufacturer, was listed on the Milan stock exchange on July 13. In its debut on the Euronext Growth Milan, the stock closed 1.63 percent higher compared to its initial public offering price (IPO) of €1.75 per share after having reached an intraday high of ...
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Dr. Martens trading in line with its expectations
Dr. Martens said that trading since the start of its fiscal year is in line with its expectations and reiterated its full-year guidance. The company’s fiscal year runs from April 1 to March 31. The British shoemaker previously said that it expected full-year revenue growth reaching a high-teen rate thanks ...
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Walmart buys 4,500 electric delivery vehicles
Walmart has signed an agreement with Canoo, a U.S. mobility company, to purchase 4,500 all-electric delivery vehicles, beginning with the Lifestyle Delivery Vehicle (LDV), with the option to purchase up to 10,000 units. No financial details were released. The vehicles will be used to deliver online orders and will also ...
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Gap’s CEO steps down amid flagging sales
Gap’s president and chief executive officer Sonia Syngal has stepped down from her position and from the company’s board, and will depart the company following a brief transition. Syngal has been with the company for 18 years and was CEO since March 2020. She leaves as Gap suffers declining sales. ...
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U.K. retail sales drop in June
In June, U.K. retail sales fell by 1.0 percent from a year earlier and were 1.3 percent lower on a like-for-like basis, a rate of contraction not seen since the depths of the pandemic, as inflation continues to bite, and households cut back spending, according to the latest Retail Sales ...
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Italian Trade Agency joins forces with Zalando
The Italian Trade Agency, referred to as ITA in English and ICE in Italian, has partnered with the German fashion online retailer Zalando to promote Italian fashion goods and cosmetics abroad. ITA invested more than €1 million to create the gallery “Made In Italy” on Zalando’s platform and help select ...
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News briefs
German economic sentiment collapses
The ZEW Indicator of Economic Sentiment for Germany slumped by 25.8 points month-on-month to minus 53.8 points in July. The assessment of the economic situation in Germany also decreased sharply and currently stands at minus 45.8 points, 18.2 points lower than in the previous month, according to the ZEW ...
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News briefs
Fly Flot’s daily production reaches 18,000 pairs
Fly Flot, a company based in Calvisano, in the Northern Italian province of Brescia, has reached a daily production of 18,000 pairs, beating its target of 15,000 pairs set for 2022. “Our production has increased to 18,000 pairs per day in a few months thanks to the summer and winter ...
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News briefsFarfetch posted a strong increase in sales of sustainable products in 2021
Farfetch experienced 92 percent growth year-over-year in gross merchandise value (GMV) for “conscious products” in 2021, with 7.4 percent of GMV being “conscious,” according to the 2021 ESG Report of the British online fashion retailer. It noted that there was an 84 percent increase of conscious products available on its ...
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News briefs
Red Wing launches online purchase of PPE
Red Wing Shoe Company has said that its unit Red Wing for Business has launched a service to order personal protective equipment (PPE) online. Clients can now purchase PPE at over 1,200 Red Wing retailers, over 170 mobile stores and online, according to the company. Established in 1905 in Red ...
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Tallinna Kaubamaja Grupp completes the restructuring of its footwear business
The Estonian group Tallinna Kaubamaja Grupp said that it is completing the restructuring of its footwear business. After closing the ABC King and SHU physical retail networks during 2022, the group’s wholly owned subsidiary TKM King will merge its remaining footwear wholesale business with Selver, which is also fully controlled ...
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News briefs
Argentina sees 2022 footwear output around 125 million pairs
On the basis of orders already received, Argentina expects 2022 footwear production to return to 2015 levels of 125 million pairs, according to the Minister of Productive Development, Daniel Scioli. Last year, Argentine footwear production totalled 107 million pairs.
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Lululemon enters Spanish market
Lululemon Athletica Inc. has announced its expansion into the Spanish market. Spain is the brand’s first new market in Europe since 2019. A dedicated Spanish-language e-commerce platform will go live at the end of July. In addition, two new brand stores will open in September on Calle Serrano in the ...
