All News briefs articles – Page 108
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News briefs
Baffin launches new Canadian made winter boots
The Canadian brand Baffin launched the Territories Collection, a line of winter boots manufactured in Stoney Creek, Ontario. The collection is initially available exclusively on the brand’s website and will be rolled out to wholesale clients in the autumn of 2022. Named after two of Canada’s Territories, the collection contains ...
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News briefs
German, Indian fairs postponed due to Covid-19
The women’s and menswear trade shows Premium and Seek, and the textile trade show Neonyt, which were scheduled to run Jan. 18-20 during the Frankfurt Fashion Week have been postponed to July due to tighter Covid-19 restrictions in Germany. The events Val:ue and The Ground have also been postponed to ...
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News briefs
Shoe Carnival clears new $50m share buyback
Shoe Carnival’s board authorized a new share repurchase program for up to $50 million of its common stock, effective Jan. 1, 2022. It replaces an existing $50 million share repurchase program that was authorized on Dec. 15, 2020, and that expires on Dec. 31, 2021. Additional purchases may be made ...
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News briefs
Skechers takes over its distribution in the Philippines
Skechers has taken charge of its distribution in the Philippines through a subsidiary, Skechers USA Philippines. The current distributor, Trendworks International, will continue to sell Skechers products until the end of this year. According to David Weinberg, chief operating officer of Skechers USA, a “dedicated team focused on growth and ...
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News briefs
LVMH launches €300m share buyback
LVMH has granted an irrevocable mandate to an investment services provider for the acquisition of a maximum of €300 million of its shares over a period starting on Dec. 21 and which could last until Feb. 15. The price of the shares bought under this mandate must not exceed €950 ...
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News briefs
Zegna starts trading on NYSE
On Dec. 20, Ermenegildo Zegna debuted on the New York Stock Exchange through a merger with Investindustrial Acquisition Corp (IIAC), a special purpose acquisition company (SPAC) sponsored by subsidiaries of Investindustrial VII, which is part of the private equity Investindustrial founded by the Italian businessman Andrea Bonomi. Shares in Zegna ...
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News briefs
Camper sees FY sales up 22%
The Spanish footwear company Camper expects sales to rise by 22 percent this year to €146 million after falling by 28 percent to €128 million in 2020 due to the outbreak of the Covid-19 pandemic. The surge in sales was underpinned by e-commerce, with online sales representing half of this ...
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News briefs
Metro Brands IPO 3.64 times subscribed
The initial public offering (IPO) of the Indian footwear retailer Metro Brands, which ran from Dec. 10 to 14, was subscribed 3.64 times. The portion reserved to qualified investors was subscribed 8.49 times and the remainder of the IPO 3.02 times.
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News briefs
Shoe Carnival launches same-day delivery with DoorDash
Shoe Carnival has launched a same-day delivery service in partnership with DoorDash. It is available to all continental U.S. customers who reside within 12 miles of a Shoe Carnival location through the footwear retailer’s website. The standard same-day delivery fee is $10, with a discounted rate of $5 for Shoe ...
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News briefs
Shoe Carnival pledges $100,000 to tornado victims
Shoe Carnival pledged to donate $100,000 to the American Red Cross. The donation will benefit relief efforts for those affected by the tornadoes that devastated portions of the South and Midwest of the U.S. from late Dec. 10 to early Dec. 11. Shoe Carnival stores in Arkansas, Illinois, Indiana, Kentucky, ...
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News briefs
CPC sells JackRabbit to Fleet Feet
CriticalPoint Capital (CPC), a Californian private investment firm, has completed the sale of JackRabbit, a running specialty retailer in the U.S., to Fleet Feet, an American franchisor of locally owned and operated running stores. CPC entered the footwear industry in early 2017 with the acquisition of JackRabbit. In October 2020, ...
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News briefs
Brian Atwood launches a new collection
Brian Atwood is launching a new footwear collection with his brother Zak Rodriguez. The new collection will be called Il Fratellino (the little brother in Italian) and is scheduled to be launched in spring 2022. It will target young customers and will be inclusive and sustainable, according to the designers. ...
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News briefs
Genesco to hold Etonic license in U.S., Canada
Genesco has signed a three-year licensing agreement with the running brand Etonic making it the exclusive footwear licensee in the U.S. and Canada. The deal includes two three-year renewal options, which would extend the partnership through to Jan. 31, 2030. Genesco will design and manufacture Etonic brand lifestyle footwear for ...
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News briefs
Skechers extends and expands its credit facility
Skechers has expanded its senior unsecured credit facility from $500 million to $750 million, extending its maturity date from November 2024 to December 2025. It will retain a $250 million accordion feature that allows the company up to $1 billion worth of liquidity. The syndicate of lenders features Bank of ...
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News briefs
H&M returns to pre-Covid levels
In the fourth quarter ended Nov. 30, the Swedish fashion retailer H&M posted fourth quarter-revenues of SEK 56.813 billion (€5.53bn-$6.22bn), up by 8 percent from a year ago, while in the full year the top line was up by 6 percent to SEK 198.967 billion (€19.38bn-$21.79bn). In local currencies, fourth-quarter ...
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News briefs
Francesco Russo to create a capsule with Charles de Vilmorin
The Italian shoemaker Francesco Russo, which is a supplier of the Italian fashion house Salvatore Ferragamo, has teamed up with the French designer Charles de Vilmorin to create a capsule of five shoe styles. The collection, retailing from €595 to €1,500, will be available on Francesco Russo’s website and at ...
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News briefs
Michele Norsa to leave Ferragamo at year end
Salvatore Ferragamo’s executive vice chairman Michele Norsa will leave on Dec. 31, 2021, ahead of the arrival of the company’s new chief executive, Marco Gobbetti, who starts on Jan. 1, 2022. Norsa was the company’s CEO from 2006 to 2016. He rejoined the company in May 2020 to help ...
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News briefs
RVRC launches hiking shoes
The Swedish retailer of outdoor clothing RevolutionRace (RVRC) launched a line of hiking shoes. The company describes the Phantom Trail Mid, its first-ever footwear model, as being a waterproof hiking boot for men and women with the flexibility of a trail running shoe, designed for various activities all year round. ...
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News briefs
Rizzo makes offer to creditors
Rizzo Group has made an offer to its creditors to avoid bankruptcy. The Swedish retailer’s composition offer, which also applies for its subsidiary Rizzo International, involves the entire payment of unsecured debt up to SEK 2,000 (€195-$220) and 25 percent of any excess amount. The company has been in corporate ...
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News briefs
Huntsman and Shincell create fully recyclable TPU foam
The American chemical group Huntsman said that it has developed a new thermoplastic polyurethane (TPU), which is fully recyclable, UV protected and can be extruded into a film and then expanded into foamed sheets. The TPU was developed in conjunction with the Chinese firm Shincell New Material Company, which is ...
