All News briefs articles – Page 102
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News briefs
Diadora and Ducati announce multi-year deal
Diadora and Ducati have announced a multi-year sponsorship agreement that includes clothing and footwear for the team. As the technical partner and official supplier for the Ducati Lenovo Team, Diadora will provide clothing, accessories and footwear for all occasions during the championship, including travel and representation, all activities on the ...
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News briefs
Ukraine conflict to have 2-3% impact on luxury goods market
The conflict between Russia and Ukraine is expected to impact by 2-3 percent, or at least €7 billion, global spending in personal luxury goods, according to an estimate made by consultancy Bain & Company. The percentage corresponds to the estimated annual expense of Russian consumers in luxury clothing, accessories, ...
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News briefs
Michael Kors' CEO leaves
Joshua Schulman stepped down as the head of Michael Kors only seven months after taking the job. Schulman was also slated to take over the helm of Capri Holdings, the parent company of the U.S. fashion brand and owner of Versace and Jimmy Choo. Schulman joined Capri in August 2021, ...
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News briefs
Russia allows to repay foreign debt in rubles
The Russian government has established a list of “hostile” countries whose debt towards Russian individuals and corporations can be repaid in rubles. The list includes member states of the European Union, Australia, the U.K., Canada, Monaco, South Korea, the U.S., Switzerland and Japan. Under the new legislation, Russians will be ...
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News briefsLenzing opens world’s largest Lyocell plant in Thailand
Lenzing has announced the completion of its €400 million Lyocell expansion project in Thailand. The new plant, which is described by the company as the largest of its kind in the world, has a nameplate capacity of 100,000 tons per year. Construction work started in the second half of 2019 ...
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News briefs
German retail supply problems worsen in February
Supply problems in German retail have worsened again in February but the clothing industry faired better than other sectors, according to a survey by the research institute ifo. In February, 76.3 percent of overall retailers said that they did not receive all the goods they ordered. In January, the figure ...
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News briefs
Hotter Shoes partners with True Fit
Hotter Shoes has entered a partnership with True Fit, a customer experience platform that decodes fit and size, to help customers shop online. The British footwear brand claims that 90 percent of new clients are now acquired through digital channels. True Fit will leverage its AI-powered algorithm to enable Hotter ...
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News briefs
Unbound Group hires a chief product officer
Unbound Group, the owner of the footwear brand Hotter Shoes, has appointed Sarah Davies as chief product officer. Davies, who has over 20 years of experience in the fashion retail industry will oversee strategy and product development for Hotter, as well as lead on the development of Unbound’s apparel categories. ...
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News briefs
ECB warns that SberBank units in the EU are failing
The European Central Bank (ECB) has assessed that the units of Russian lender SberBank in Austria, Slovenia and Croatia are failing or likely to fail because of a decrease in their liquidity. SberBank Europe, which is based in Austria, and its two subsidiaries in Slovenia and Croatia, have experienced ”significant ...
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News briefs
Wildberries books record sales of fashion items
A record 336 billion rubles (€3.85bn) in fashion goods were sold on Russia’s largest e-commerce marketplace, Wildberries, in 2021. Revenues are 55 percent higher than in the previous year, partially thanks to an increase in demand for warm clothing and footwear. Growth was underpinned by an increase in shopping frequency. ...
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News briefs
Superfeet makes management changes
Washington-based insole manufacturer Superfeet has announced a series of promotions and a new hire. In addition to hiring a new chief financial officer, Cambria Schmidt, five employees were promoted to VP level: Matt Gooch is now VP Product & Innovation, Frits Kuper VP International Sales, Michael Lindeman VP IT, Brian ...
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News briefs
Frasers acquires troubled online retailer Studio Retail
Frasers Group, the parent company of Sports Direct, announced today it has acquired Studio Retail Limited and certain other assets of Studio Retail Group plc. The British online retailer Studio Retail Group had filed for administration earlier this month for itself and its wholly-owned subsidiary Studio Retail Limited after failing ...
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News briefs
ABG partners with New Guards for Reebok in Europe
Authentic Brands Group (ABG) has appointed Milan-based luxury fashion manufacturing and distribution holding company New Guards Group as its operating partner for the Reebok brand in Europe. Under the agreement, New Guards, which is owned by U.K.-based international e-commerce company Farfetch Limited, will operate retail stores and e-commerce for the ...
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News briefsGeopolitical tensions impact the Russian shoe market
The price of footwear in Russia is expected to rise by at least 15 to 25 percent in 2022 due to rising production costs and the depreciation of the Russian ruble, the Russian analytical agency Fashion Consulting Group forecast. The ruble hit a 15-month low against the dollar after the ...
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News briefs
Versarien provides graphene-enhanced elastomers to Flux
Versarien, a British provider of advanced materials, will be supplying graphene-enhanced elastomers to U.S.-based Flux Footwear. The material will be used to bring to market AdaptMid, an improved model of Flux’s Adapt shoe. Under the terms of the partnership between the two companies, the Adapt barefoot athleisure model has been ...
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News briefs
Fire breaks out at an Alpargatas site
In the early morning of Feb. 21, a fire broke out at an Alpargatas plant located in the city of Santa Rita, in the Brazilian state of Paraíba. So far the company has not identified casualties and staff was released before the beginning of the work shift at the site. ...
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News briefs
Hermès' full-year results surge
In 2021 Hermès posted sales of €8.982 billion, up by 30 percent compared with the pre-pandemic year of 2019. The operating margin reached a record 39.3 percent in 2021, compared with 34 percent in 2019 and 31 percent in 2020. The net profit was €2.445 billion, nearly €1 billion higher ...
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News briefs
Designer Brands invests $2 m in black-owned factory
Designer Brands, the parent of the shoe retailer DSW Designer Shoe Warehouse, is investing $2 million in the first Black-owned footwear factory in the United States – JEMS by Pensole – to produce shoes designed by graduate students of the Pensole Lewis College of Business & Design (PLC). The shoes ...
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News briefs
Pikolinos streamlines its structure
Pikolinos has streamlined its structure by absorbing its leather supplier Pies Cuadrados, which like Pikolinos is owned by the Perán family. Through the reorganization, the company Molicopi, which owned Pies Cuadrados is being liquidated. In 2019, Pikolinos already modified its structure with a partial spin-off of its parent company. The ...
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News briefs
Crocs completes the acquisition of Heydude
Crocs completed the purchase of the privately-owned casual footwear brand Heydude on Feb. 17. The acquisition was funded by $2.05 billion in cash and 2,852,280 Crocs shares issued to Heydude’s founder. Heydude is expected to deliver annual revenues of $700 to $750 million, including the period of time prior ...
