All News briefs articles – Page 140
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News briefs
Italian fashion industry seen rising by 10% in 2021
Revenues of the Italian fashion industry fell by about 23 percent in 2020 due to the impact of the Covid-19 pandemic and are not expected to return to pre-crisis levels before 2023, according to the investment bank Mediobanca. This year, the sector’s sales are expected to rise by about 10 ...
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News briefs
Kinnevik to spin off its stake in Zalando
Kinnevik, the Swedish investment fund that has been supporting Zalando since 2010, helping it to go public in 2014, has decided to transfer its 21 percent interest in the big German-based e-tailer to its own shareholders, provided they approve the move at Kinnevik’s annual meeting on April 29. The Swedish ...
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News briefsKering dragged down by Gucci
Revenues of the French luxury goods group Kering amounted to €13,100 million in 2020, down by 17.5 percent year-on-year on a reported basis and by 16.4 percent on comparable structure and exchange rates due to the impact of the Covid-19 pandemic. The decline was driven by the group’s key Gucci ...
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News briefsVans launches a digital livestream channel
Vans has launched Channel 66, a digital livestream network broadcasting weekdays from New York City, Chicago, Mexico City, and Los Angeles to a worldwide audience. Channel 66 offers a live audio and video broadcast featuring DJ sets, radio shows, talks, workshops, and musical performances across music, art, action sports and ...
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News briefs
Baldinini in apparel license deal with Add
Baldinini, the Italian producer of luxury footwear, has signed a license agreement with Add, the brand of down jackets owned by the Italian company Comei & Co, for the design and distribution of outerwear. Add will produce about 100 items of both men’s and women’s “lightweight contemporary leisurewear” under the ...
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News briefs
Pod to be relaunched by William Lamb
The Pod brand will be relaunched with the forthcoming autumn/winter season after the footwear distributors William Lamb Group acquired the international license for the brand last year. The collection will comprise women, men and children’s shoes. The Pod footwear was originally launched in 1976. William Lamb was founded in 1887 ...
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News briefs
Shop Pay expands to Facebook and Instagram in the U.S.
Shopify is expanding Shop Pay to all its U.S. merchants selling on Facebook and Instagram. With Shop Pay clients also get access to order tracking and carbon offsets from their deliveries. The Canadian e-commerce software company says that Shop Pay helped buyers complete more than 137 million orders in 2020, ...
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News briefs
Klarna launches bank account in Germany
Klarna, the Swedish online payments group, is launching consumer bank accounts in Germany. The launch marks a first for the company and will allow customers to track, categorize and analyze all of their everyday spending using the Klarna app. A Klarna bank account will come with a Visa debit card ...
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News briefs
Moody’s downgrades VF
Completing its review of VF Corp.’s credit rating following its December acquisition of Supreme, Moody’s kept the company’s rating stable but lowered its senior unsecured debt and shelf ratings slightly. It confirmed its P-2 short-term commercial paper rating. Moody’s noted that VF’s financial leverage will remain high, predicting that its ...
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News briefs
Santoni launches online business in China
Santoni, the Italian brand of high-end shoes, has opened a store on Tmall Luxury Pavilion, the B2C marketplace of the Chinese group Alibaba, as part of a direct-to-consumer, digital-first strategy for the market. Along with its TMall launch on Feb. 1, Santoni also opened an account on WeChat, through which ...
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News briefsVivobarefoot wins sustainability award for algae-based footwear
Vivobarefoot is one of the winners of Arizona-based Footprint Foundation’s 2021 Ocean Hero Awards, which recognize innovative champions that are positively affecting the environment on a global scale. Vivobarefoot was honored with an Innovative Engineering Award “for developing the first footwear made from algae, a renewable aquatic resource.” Footprint, a ...
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News briefsWomen’s sneakers are booming on StockX
StockX has released a report on the resale market’s evolution since the company’s founding, in February 2016. Men’s sneakers continue to dominate resales, but the resale of women’s sneakers has been growing at a faster rate, having multiplied by a factor of 1,500 since the start. StockX says it now ...
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News briefs
Another legal victory for the Moon Boot
Tecnica Group has won a second court verdict in Italy to protect the intellectual property rights behind its Moon Boot, and it is now planning to carry the fight to other countries as well, starting with Germany and Italy. The Milan Tribunal ruled on Jan. 25 that the unique design ...
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News briefsTeva releases second Anna Sui collection
Teva is releasing for the spring of 2021 a second limited-edition shoe collection designed by Anna Sui. The collection’s two models both feature a Liberty Fabrics print, titled “Botanist’s Diary,” on the theme of press flowers from English gardens. The Flatform Universal Anna ($150) is a variant of a Teva ...
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News briefs
JD Sports head says Brexit “considerably worse” than expected
The impact of Brexit on trade is “considerably worse” than expected, Peter Cowgill, chairman of JD Sports Fashion told the BBC’s World at One program. He said that red tape and shipment delays to the European single market have resulted in “double-digit millions” in additional costs. Cowgill believes that the ...
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News briefs
Hunter’s global brand director quits
After nearly eight years in job, Ali Lowry announced he was stepping down as global brand director at Hunter. In a message posted on LinkedIn called “Given Hunter The Boot”, Lowry wrote that after seven years and eight months ”I leave on a high and at a time that feels ...
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News briefs
Kurt Geiger was growing mildly before the pandemic
Kurt Geiger enjoyed a 3.7 percent increase in revenues to £347 million (€304.6m-$480.2m) in the financial year ending Feb. 1, 2020, the month before the Covid-19 pandemic broke out in the U.K., according to documents filed with the British registrar of companies, Companies House. Comparable sales growth come in at ...
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News briefs
Fred Perry buys George Cox
The British sportswear brand Fred Perry has bought the British footwear maker George Cox. The two brands are long-time collaborators and have partnered on several occasions. No financial details were released. George Cox will be integrated into Fred Perry’s global distribution network and have access to its digital expertise. Adam ...
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News briefsPrada obtains €90m sustainability-linked loan
Prada has signed a €90 million, five-year sustainability-linked loan with the Italian bank UniCredit. The loan is characterized by the application of a bonus mechanism that allows for a reduction in the interest rate with the achievement of quantitative targets in the field of environmental sustainability. Attainment of those targets ...
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News briefsBrazilian exports at their highest since April
In January, Brazilian footwear exports fell by 33.2 percent year-over-year to $60.93 million. In volume, the decline narrowed to 22.2 percent with 9.73 million pairs sold. However, month-on-month exports increased by 5.0 percent in volume and by 2.1 percent in value and were at their highest level since April 2020. ...
