All News briefs articles – Page 121
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News briefs
Gen Z consumers open to clothing rental
According to a new study among consumers aged between 19 and 24 conducted by the College of Agricultural, Human and Natural Resource Sciences at the Washington State University (WSU), Gen Z adults are interested in using apparel rental services to reduce overconsumption. Ting Shi, co-author and chair of apparel, merchandising, ...
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News briefs
Wolverine plans to offer $550m in 4.000% notes
Wolverine Worldwide announced the planned issue to institutional investors of $550 million worth of new senior notes due in 2029 bearing annual interest of 4.000 percent. It will use the proceeds to redeem all its outstanding 6.375 percent notes due in 2026 and 5.000% notes due in 2026. The group ...
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News briefs
Boohoo plans to invest £500m creating 5,000 UK jobs as demand soars
The online fashion retailer Boohoo is investing £500 million (€588m-$693m) in the U.K. over the next five years, creating 5,000 jobs and increasing its ability to meet rising domestic and international demand. The British company, which focuses on clothing, shoes, accessories and beauty products for 16 to 30-year olds, said ...
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News briefs
Diadora grows strongly in the U.S.
Diadora is projecting growth in the mid-teens for this year. In 2020, the pandemic led the Italian brand to a decline in consolidated revenues to €138 million from €168 million in 2019. Sales are on the rise particularly in the U.S. and the Benelux countries. In the U.S., Diadora expects ...
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News briefs
Sequential sells two more brands
After reporting the sale of its DVS brand of skate shoes to Elan Polo, the struggling Sequential Brands Group has announced the sale of Ellen Tracy for $17 million and Caribbean Joe for $3 million. The buyer is the GMA Group, which owns Capelli New York and other brands. SBG ...
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News briefs
Crocs completes new $350m bond issue
Crocs said it completed on Aug. 10 the issuance and sale of $350 million worth of senior notes carrying annual interest of 4.125 percent and due to mature on Aug. 15, 2031. They will be used for share buybacks and general corporate purposes. The notes were purchased by several institutional ...
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News briefs
ILM to be held Sept. 4-6
A local magistrate has authorized the organization of a physical edition of the international leather trade show ILM on Sept. 4-6 in Offenbach am Main, near Frankfurt. Previous physical editions of the show, organized by Messe Offenbach, had been canceled because of the Covid-19 pandemic. A digital version, ILM Virtual ...
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News briefs
Leder & Schuh sees sales returning to pre-Covid levels in 2022
Leder & Schuh Group, the Austrian shoe retailer which owns the Humanic and Shoe4You brands, posted a loss of almost €35 million in 2020 compared to a net profit of €1.6 million in 2019, as revenues of its Austrian business dropped to €150.6 million from €194.6 million due to the ...
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News briefs
YNAP joins forces with Klarna
Yoox Net-a-Porter (YNAP), the fashion online retailer owned by the Swiss luxury goods group Richemont, has entered an international partnership with the Swedish retail banking, payment and shopping service Klarna. Thanks to the agreement, YNAP’s customers will be able to pay using Klarna’s ”buy now, pay later” solutions, including its ...
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News briefs
Designer Brands to be exclusive distributor of Hush Puppies in North America
The U.S. footwear producer and retailer Designer Brands will become the exclusive in-store distributor of Hush Puppies in North America from 2022. “DSW customers have enjoyed Hush Puppies for years, and we are delighted to become the sole physical destination for this iconic brand in North America,” said DSW’s chief ...
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News briefs
Melania declared bankrupt
On July 23, a court based in the Italian town of Fermo declared Melania Italia bankrupt following a request lodged by several employees. Melania was founded in 1966 by Manfredo Gironacci and the company filed for creditor protection in September 2020. The Fermo-based court accepted the request and gave the ...
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News briefs
Wolverine buys Sweaty Betty
Wolverine Worldwide has bought Sweaty Betty, a fast-growing U.K.-based brand of women’s fitness and lifestyle apparel that was going to develop a collaboration with Merrell, which is owned by Wolverine, in the area of footwear. The all-cash transaction was closed on Aug. 2, giving the business an enterprise value of ...
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News briefs
Ukraine introduces sanctions against Wildberries
The Ukrainian government has imposed sanctions on Russia’s e-commerce leader Wildberries and its subsidiaries in Ukraine, Belarus, Poland and other countries, freezing the company’s assets for three years, banning capital withdrawal, business contacts and exchange of technologies among other things. In a statement, Ukrainian Minister of Culture Oleksandr Tkachenko explained ...
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News briefs
Russian shoe firms intend to hike prices on rising costs
Russian footwear companies said that they plan to raise prices in the coming few months due to higher costs. Andrey Pavlov, the owner of the Russian footwear producer and retailer Zenden Group, explained that prices are being driven up by logistics costs and raw materials. Pavlov claimed that disruptions in ...
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News briefs
Iconix redeems its notes while merging with Lancer
The Iconix Brand Group has announced the full redemption of its outstanding 5.75 percent convertible senior notes, which were due in 2023, at their initial aggregate price of $125 million plus accrued interest, in connection with its planned merger with Lancer Capital on Aug. 4. The announcement coincided with the ...
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News briefs
Twitter tests an e-commerce feature for brands
Twitter has announced that it is beginning to allow businesses to add a shopping section at the top of their profile page. The “Shop Module” pilot has started with a dozen brands in the U.S. By tapping a product, the consumer reaches a listing with the option of making a ...
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News briefs
Hermès’ sales rise sharply in H1
The revenues of the French luxury goods group Hermès totaled €4,235 million in the first half, an increase of 77 percent year-on-year at constant exchange rates and 70 percent at current rates led by the Americas. At constant currency rates, sales in Asia, excluding Japan, rose by 86.5 percent. Japan ...
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News briefs
ThredUp buys European resale platform Remix
ThredUp, a U.S. online resale platform for women’s and kids’ apparel, shoes and accessories, has entered into a definitive agreement to acquire Remix, a Bulgarian-based fashion resale company. The acquisition will accelerate thredUP’s growth plans in Europe, where the secondhand market was estimated to be $21 billion in 2020 and ...
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News briefs
Aeffe’s footwear, leather goods sales up 43.0%
In the first half of 2021, the footwear and leather goods division of Aeffe, the Italian fashion house that owns Pollini and other brands, posted an increase in sales of 43.0 percent at constant currency rates to €68.2 million. The division’s Ebitda rose to €8.0m, representing 11.8 percent of sales, ...
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News briefs
APLF rescheduled to March 2022
The organizers of APLF-Leather, Materials+ and Fashion Access have rescheduled the events from November 17-19, 2021 to March 30-April 1, 2022 in Hong Kong. The events had already been posptoned from July 5-7 due to restrictions caused by the Covid-19 pandemic. In a statement, the organizers said that in ”the ...
