Legal & Institutional – Page 7
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ArticleScarpe & Scarpe seeks debt restructuring agreement with creditors
The Turin-based footwear and apparel retailer Scarpe & Scarpe has entered into a preliminary insolvency procedure, known pre-concordato or concordato preventivo in bianco, granting it temporary protection from creditors while seeking a debt restructuring arrangement. Usually, the procedure provides a company two to four months to reach an agreement with ...
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ArticleCirillo Marcolin takes over presidency of Confindustria Moda
As planned, Cirillo Marcolin has taken over the rotating presidency of Confindustria Moda, the umbrella organization of the Italian fashion industry, replacing Claudio Marenzi. Confindustria Moda comprises Sistema Moda Italia (SMI), which groups the textile and apparel firms operating in the country; Assocalzaturifici, the shoemakers’ association; Assopellettieri, formerly called Aimpes, ...
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Hotter Shoes submits debt restructuring plan to creditors
UK footwear chain Hotter Shoes has reportedly gone ahead with plans to file a company voluntary arrangement (CVA) proposal to creditors and shareholders seeking approval to close 46 stores as it deals with the impact of the coronavirus pandemic. The plan would leave the company, owned by Electra Private Equity, ...
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CTC boosts the support scheme for its members
The Centre Technique du Cuir (CTC), the French-based research and training group that redistributes funds collected among its members to support the national leather industry, has announced a three-fold plan of exceptional measures for this year, in order to assist its members in the post-coronavirus period. A new subsidy will ...
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FFANY to move under FDRA umbrella
The Fashion Footwear Association of New York (FFANY) is set to come under the umbrella of the Footwear Distributors and Retailers of America (FDRA) effective Oct. 1 after the end of FFANY’s current fiscal year. John Heron, the executive director of FFANY, says the long-discussed merger was given a push ...
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Sioux’s wholesale division files for insolvency as coronavirus lockdowns hit sales
Plummeting department store sales amid business-wrecking coronavirus lockdowns and market uncertainty have driven Sioux Group’s wholesale division off the rails.
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Mandatory tagging of shoes will start in Russia on July 1st
There will be no further delays in the introduction of mandatory tagging of footwear products sold on the Russian market, said Victor Evtukhov, Deputy Industry and Trade Minister. All untagged shoes will be banned for sale in the country from July 1, he added. The tags consist of electronic chips ...
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Cambodian manufacturers plead for postponement of EU sanctions
Sales of Cambodian apparel, footwear and travel goods are estimated to fall by 50 to 60 percent in the second quarter year-on-year, according to the Cambodia Footwear Association, the Garment Manufacturers Association in Cambodia and the European Chamber of Commerce in Cambodia. In a co-signed letter sent to the European ...
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La Halle receives 7 offers for 60% of its business
La Halle, the big French low-cost clothing, footwear and accessories retailer owned by Vivarte, will have to be sold piecemeal, while more time is being granted by a court to find a buyer for André, the more high-end shoe retailer, which is currently in bankruptcy proceedings.
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Vivarte turns to courts to save La Halle
To avoid a total collapse of La Halle, hit by the closure of all of its stores due to Covid-19, the Vivarte retail group has opened a ”safeguard procedure” with the Paris Commercial Court. The aim is to restructure the debt of the big French chain of low-priced shoe and ...
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ArticleGlobal footwear consumption seen down by 22.5% in 2020
The Covid-19 pandemic is expected to slash global footwear consumption by 22.5 percent this year and prompt the industry to rethink the organization of the supply chain. Sneakers and e-commerce continue to be viewed as the growing segments of the market over the next three years.
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German suppliers and retailers cooperate in the Covid-19 crisis
The German shoe industry association, HDS/L, is working on a special program for retailers together with the BDSE, the federal association of shoe retailers, according to Schuhkurier. Each brand or manufacturer should define the shoe models from the current, already delivered, spring/summer collection whose sale will be postponed for the ...
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Misaf to hold 2nd edition in June with focus on design, innovation
Misaf, which stands for Milan shoes and accessories fair, plans to hold its second edition from June 10 to June 12, just before Expo Riva Schuh, scheduled for June 13-16. Expo Riva Schuh is held in the Italian town of Riva del Garda and is the world’s leading shoe fair ...
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Micam Milano replaces Micam Americas
Informa Markets, a British organizer of exhibitions and events, has joined forces with the Micam Milano to launch Micam Americas, scheduled to run for the first time from Aug. 17 to 19 in Las Vegas. It will replace FN Platform and run alongside two other important fashion events at the ...
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ArticleEurope has become the “epicenter” of the coronavirus pandemic
The World Health Organization (WHO) has warned that Europe has now become the “epicenter” of the novel coronavirus pandemic as the virus spreads dramatically, prompting nations to totally or partially shut down their economies. On March 22, the Italian government issued a decree imposing the closure of all manufacturing ...
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Germany withstands the disease in better ways
Italy, the largest shoe manufacturing country on the continent, has suffered the highest number of deaths, followed by Spain, the second-largest producer. The official number of deaths related to the epidemic is now higher in Italy than in China, where it started last December. After Italy, Spain became the second ...
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Italy’s 2019 shoe production fell by 3.1% in volume
Italian footwear production fell by 3.1 percent to 178.6 million pairs in 2019 as the industry continued to suffer from a weak domestic market and a decline in export volumes, according to an estimate released by the Italian shoe industry association Assocalzaturifici. The value of the production rose by 1.3 ...
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Lower foreign and domestic sales by German shoe companies
The growth of the German footwear industry weakened in 2019, weighed down once again by lower sales abroad, according to an annual report by the Federal Association of the German Footwear and Leathergoods Industry (HDS/L) and presented at the Gallery Shoes fair in Düsseldorf earlier this month. In 2019, ...
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German shoe retailers post record growth in a difficult market
According to the German Federal Association of Shoe Retailers (BDSE), German shoe retailers recorded an increase of year-on-year 3 percent in their sales in 2019, expanding the total market to around €11.8 billion. The situation for German shoe retailers was positive last year except for a difficult winter, once ...
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Lower attendance at Micam
Attendance at Micam’s 89th edition, held on Feb. 16-19 in Milan, fell by 5 percent as compared to a year ago, largely due exceptional circumstances, according to the organizers, who had actually expected a higher rate of decline, considering especially the reports available at the time about the effect of ...
