All News briefs articles – Page 106
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News briefs
Paul Green has a new management team
Paul Green has appointed a team of new managing directors as part of a generational change at the Austrian footwear manufacturer, which specializes in women’s shoes. From Jan. 1, Barbara Aichinger, who is responsible of sales and marketing, Jürgen Posch, who oversees production, Torsten Tesche, who is charge of ...
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News briefsEastman to invest $1bn in a plastic recycling facility in France
French President Emmanuel Macron and Mark Costa, Eastman Chemical Company’s board chairman and CEO, jointly announced on Jan. 17 that the U.S.-based specialty materials company plans to invest up to $1 billion in a material-to-material molecular recycling facility in France. The facility would use Eastman’s polyester renewal technology to recycle ...
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News briefs
Stella's full-year sales rise to $1.5 bn
A sales increase in consolidated revenues of 44.9 percent to $405.8 million in the fourth quarter of 2021 is expected to lead to an increase of 35.6 percent to around $1.5 billion for the full financial year, said Stella International, thanks to a continued recovery in orders for its shoe ...
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News briefs
Dozens of shoe stores damaged in Kazakh unrest
Several dozens of shoe stores were damaged by the unrest in Kazakhstan during the first week of January, according to local reports. The National Chamber of Entrepreneurs of Kazakhstan calculated at 88.1 billion tenges (€178m- $200m) the damage caused to businesses by the rioters. More than 90 percent of the ...
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News briefs
Sada Dostluk makes a debut on the Russian market
The Turkmenistan footwear company Sada Dostluk has reached an agreement to export shoes under the Sada brand to Russia, with deliveries slated to begin this year. Founded in 2018, Sada Dostluk is one of the largest shoe companies in Central Asia, manufacturing 140,000 pairs of shoes a month. The company ...
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News briefs
Jupiter halves stake in Boohoo after profit-warning
Jupiter Fund Management has slashed its holding in Boohoo to 4.7 percent from 9.99 percent, according to a stock market filing. The investment firm was Boohoo’s second largest institutional shareholder after T Rowe Price International. No reasons were given for the disposal, but the move comes less than a month ...
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News briefs
Online and wholesale revenues up at Oliver Sweeney
According to Draper’s, Oliver Sweeney enjoyed a 31 percent year-on-year increase in online sales for the eight weeks ended on Dec. 26. Wholesale revenues were up “significantly” year-on-year as well. The U.K. footwear retailer reportedly accomplished this with less promotion than usual. Drapers reported in 2020 that Oliver Sweeney had ...
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News briefsEcco USA with new CEO
Source: Ecco USA Tom Berry Danish footwear brand Ecco has appointed Tom Berry as president and CEO of Ecco USA, based in Londonderry, New Hampshire, effective immediately. After more than 20 years with the brand, former president Dave Quel had announced his retirement last summer, with CFO ...
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News briefs
France to invest €2.3bn in industrial startups
The French government presented a plan to invest €2.3 billion over five years to help the development of industrial startups as part of an effort to re-industrialize the country. The programme includes the creation of a new fund with an endowment of €1 billion to invest in the equity of ...
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News briefs
Prada FY sales up 41%
In 2021, Prada posted sales of €3.364 billion, up by 41 percent from 2020 and by 8 percent from 2019 at constant currency rates driven by its retail business. In the second half of 2021, the Italian fashion house enjoyed a sharp improvement in sales, operating margins and cash generation. ...
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News briefs
Coats launches Lattice Lite Eco for footwear
Coats is launching Lattice Lite Eco, a fiber-laying technology using sustainable materials to create footwear composite materials. The British industrial thread manufacturer described the technology as “revolutionary” as it enables yarns to be precisely positioned in the required place and direction. ”This means the thickness, flexibility, torsion and rigidity of ...
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News briefs
Amazon reverses ban on U.K. Visa cards
Amazon has suspended a decision to ban the use of Visa credit cards in the U.K. The decision to ban the use of the cards from Jan. 19 was announced in November and was blamed on “high cost of payments”. The American online retailer said “we are working closely with ...
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News briefs
Schwan-Stabilo buys a stake in Doghammer
The German Schwan-Stabilo group has taken a minority stake in Doghammer, a young outdoor footwear brand. The agreement was signed shortly before the end of 2021. Further details of the transaction were not disclosed. Doghammer was established in 2015 by Matthias Drexlmaier and Maximilian Hundhammer in Rosenheim in Bavaria. Since ...
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News briefs
Sorel offers three styles on Zappos Adaptive
Sorel is partnering with Zappos.com, a subsidiary of Amazon, to launch three styles on Zappos Adaptive, which offers products that combine fashion and function to meet the needs of people with disabilities. Sorel chose the styles Explorer II Joan Dual Zip, Emelie II Chelsea Heel Zip and Explorer Boot Dual ...
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News briefs
S&P has a negative credit outlook for Crocs
Having completed its review of Crocs following its $2.5 billion takeover of Hey Dude, Standard & Poor’s gave a negative outlook to the company, in contrast with the stable outlook assigned by Moody’s. S&P indicated that it might downgrade Crocs if it fails to integrate the casual footwear brand as ...
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News briefs
Next cuts sick pay for unvaccinated staff isolating after Covid contact
The British fashion retailer Next is cutting sick pay for unvaccinated staff who must self-isolate due to exposure to Covid-19. The move means that unvaccinated workers required to isolate after being identified as a close contact of someone with Covid could receive as little as the UK’s statutory sick pay ...
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News briefs
StockX is reportedly working on its IPO
StockX, the fast-growing auction platform for heritage sneakers and other collectibles, has started working on a public offering with Morgan Stanley and Goldman Sachs, said Bloomberg, quoting “people with knowledge of the matter.” The report, which could not be confirmed, comes a couple of months after StockX announced its first ...
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News briefs
Rodolfo Zengarini obtains Bikkembergs license
Rodolfo Zengarini has obtained a five-year license to produce footwear under the Bikkembergs brand, starting with the 2023 spring/summer collection. The companies have however already started a partial collaboration on the forthcoming autumn/winter collection. The license was previously held by Hong Kong-based Global Brands Group (GBG) that went bankrupt last ...
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News briefs
Sergio Rossi appoints Evangelie Smyrniotaki as artistic director
The Italian shoe maker Sergio Rossi has appointed Evangelie Smyrniotaki, the founder in 2011 of the fashion blog Style Heroine, as its new artistic director. Smyrniotaki has frequently collaborated with high-end fashion brands such as Chanel, Prada and Versace. She will manage the brand’s image, including the supervision of the ...
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News briefs
Premiata launches a ready-to-wear collection
Premiata launched its first ready-to-wear collection at the 101st edition of Pitti Immagine Uomo, held in Florence from Jan. 11 to 14, as part of its product diversification. The Italian footwear company known for its sneakers launched a collection of backpacks early last year. The cloths are genderless and manufactured ...
