Latest News Briefs – Page 94
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News briefs
YouTube Shorts has 1.5 bn monthly users
YouTube, the U.S. online video sharing and social media platform owned by Google, said that its Shorts service now has over 1.5 billion active, signed-in monthly users. The service enables to show videos of up to 60 seconds. It started in test mode in September 2020, followed by a full-blown ...
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News briefsExpo Riva Schuh attracts more than 8,000 visitors
Expo Riva Schuh & Gardabags, which was held from June 11 to 14 in Riva del Garda, Italy, attracted more than 8,000 visitors from 103 countries. Visitors from Italy represented 34 percent of the total, followed by Germany (10 percent), France (6 percent), Spain (5 percent) and the United Kingdom ...
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News briefs
VDL urges to use leather to avoid microplastics
The German leather association VDL presented a strong case of using leather as a means to avoid microplastics, which are plastic particles smaller than 5 millimeters. In a statement, VDL noted that the most common sources of microplastic pollution are polypropylene (PP) in packaging materials and polyethylene terephthalate (PET) used ...
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News briefs
Zalando buys Highsnobiety
Zalando has acquired a majority stake in Highsnobiety, a German media brand. No further details were released about the transaction. Highsnobiety was founded in Berlin in 2005 by David Fischer as a blog. The company currently comprises a publishing arm, creative consultancy and a commerce platform. ”Teaming up with Highsnobiety ...
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News briefs
Timberland Construct: 10061 now available in the metaverse
In collaboration with Epic Games’ Unreal Engine and Conceptkicks, Timberland has unveiled an innovative design experience that blends the physical and virtual worlds. The partnership centers on Timberland Construct: 10061, which invites shoe lovers to immerse themselves in the universe of design, creation and innovation via a playable experience in ...
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News briefs
OrthoLite expands O-Therm range
OrthoLite announced the expansion of its thermal foam, OrthoLite O-Therm. Previously limited to a thickness of 2mm, the first and only aerogel-infused, open-cell PU foam cold block solution in the market is now available in a thickness range from 2mm to 20mm, providing a more customizable cold block solution for ...
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News briefs
Expo Riva Schuh attracts over 1,000 exhibitors
Expo Riva Schuh & Gardabags, scheduled from June 11 to 14 in Riva del Garda, Italy, will host more than 1,000 exhibitors from 41 countries. They will display collections, featuring some 4,000 products, over the 25,000 square meters of the fairgrounds. Italy, China, Turkey, India, Pakistan, Brazil, Spain, Portugal and ...
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News briefs
StockX defends itself against Nike
While online resale platform StockX continues to claim that Nike has a fundamental misunderstanding of NFT, as it originally argued, the company defended its anti-counterfeiting measures in response to Nike’s amended complaint. In a June 6 filing, StockX said the platform has one of the strongest authentication processes in the ...
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News briefs
Rocky Brands to cut non-manufacturing headcount
Rocky Brands will close the Boston office it obtained with the acquisition of Honeywell International’s lifestyle footwear business as well as cut the non-manufacturing headcount related to the acquired brands by approximately 13 percent. The actions are expected to result in $3.0-$4.0 million in annualized savings for the company that ...
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News briefs
Kohl’s in talks to be bought by Franchise Group
Kohl’s has entered into exclusive negotiations with Franchise Group for a period of three weeks. The decision comes after Franchise proposed to acquire the U.S. chain of department stores for $60.00 per share. The purpose of the exclusive period is to allow Franchise and its financing partners “to finalize due ...
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News briefs
ABL Group buys the sneaker brand Tonakai
ABL Group, an Italian producer of leather goods, has bought an 80 percent stake in the sneaker brand Tonakai, as its develops its brand portfolio. Founded in 1947, ABL initially produced white label caused and launched its first own brand, the handbag label Rebelle, a year ago. Rebelle is expected ...
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News briefs
OR Group undergoes a restructuring
The Russian footwear retailer OR Group, formerly known as Obuv Rossii, announced that its online marketplace Westfalika temporarily stopped accepting orders, as a part of an anti-crisis program embarked on by the company. OR Group has also started restructuring its retail network, closing the least profitable stores. In particular, three ...
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News briefs
DSM sells engineering materials business
The Dutch group Royal DSM reached an agreement to sell its engineering materials business to Advent International and Lanxess for an enterprise value of €3.85 billion. The business represented €1.5 billion of DSM’s total annual net sales and €334 million of its total adjusted Ebitda for 2021. DSM expects to ...
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News briefs
Arklyz buys Shoe City
Arklyz Group, the owner of the athletic specialty footwear and lifestyle retailer, The Athlete’s Foot (TAF), has bougth Shoe City, a Baltimore-based sneaker and streetwear lifestyle retail chain together with an online platform www.ycmc.com. Shoe City is an established local business, having started with one location in Baltimore in 1949. ...
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News briefs
Vivobarefoot partners with Bundlee
Footwear brand Vivobarefoot is partnering exclusively with Bundlee, a U.K.-based rental platform for children’s clothing, which is for the first time expanding its service to shoes. Founded in 2018 by Eve Kekeh, Bundlee offers children’s clothing on a rental subscription basis. The clothes are returned when the child grows up ...
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News briefs
S&P revises outlook for Wolverine Worldwide
S&P Global has revised its outlook on Wolverine Worldwide to negative but maintains its BB rating on the issuer credit rating. Wolverine ended the first quarter with a debt-to-equity ratio of 5.2x due to last year’s acquisition of Sweaty Betty, a $30 million settlement related to PFAS contamination at a ...
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News briefs
Record loss for Footway in Q1
After the company’s profit warning in March due to supply chain problems and decreased demand, the Swedish Footway Group has now published its Q1 financial report. The Ebit result landed at a negative71.2 million Swedish kronor (€-6.8m), compared to a loss of SEK 12.8 million in the first quarter of ...
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News briefs
DuPont Biomaterials sold, reincorporated as Covation Biomaterials
Following the completion of the purchase from DuPont for approximately $240 million, the Chinese Huafon Group has reincorporated former DuPont Biomaterials as a stand-alone company under the name Covation Biomaterials headquartered in the U.S. state of Delaware. Covation aims to create sustainable building blocks for customers to make innovative bio-based ...
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News briefs
Amazon not seen liable for sale of counterfeit Louboutin shoes
The advocate general of the Court of Justice of the European Union (CJEU), Maciej Szpunar, estimates that Amazon is not liable for the sale of counterfeit Christian Louboutin shoes on its platform. In 2019, Louboutin sought an injunction against the U.S. online retailer in courts in Luxembourg and Belgium on ...
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News briefs
Prada names Roberto Massardi as chief business development officer
Prada appointed Roberto Massardi as chief business development officer in May. He is responsible for the strategic development of the group through the pursuit of new business opportunities. At the start of his career, Massardi held different positions at Italian tyre manufacturer Pirelli before joining a first time Prada in ...
