All News briefs articles – Page 143
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News briefs
Yue Yuen’s manufacturing revenues fall by 27%
Yue Yuen’s revenues from footwear manufacturing fell by 27 percent in terms of U.S. dollars in 2020, including a drop of 16 percent in December. The group’s retail subsidiary, Pou Sheng, improved its sales by 1 percent thanks to a strong finish of the year, with sales up by 11 ...
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News briefs
Nike and Converse file lawsuit against nearly 600 websites
Nike and its Converse subsidiary have filed the biggest lawsuit of the kind, accusing the 186 operators of 589 websites as well as 676 social media accounts for allegedly infringing on various trademarks and attempting to sell “falsely labeled” counterfeit products under their own brand names and that of Nike’s ...
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News briefsUzbekistan footwear exports would benefit from EEU membership
Uzbek shoe companies would benefit from the country’s entry into the Eurasia Economic Union (EEU), which the government is currently studying, according to Ruslan Abaturov, senior analyst of the Center for Economic Research and Reforms. The EEU is a trade bloc of post-Soviet countries which enjoy a free trade agreement, ...
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News briefsMarc Durie becomes president of J.M. Weston
Marc Durie, 45 years old, has become the president of J.M. Weston, replacing Thierry Oriez. Durie was previously the global head of the men’s shoe division and customer relationship management department at Christian Louboutin, a position he held for over four years. He is expected to focus on the international ...
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News briefsAsos upbeat about profits but warns about Brexit costs
The fashion online retailer Asos indicated that its full-year profit will be at the top end of market expectations but warned that it faces £15 million (€16.8m-$20.5m) in Brexit tariff costs. Sales jumped by 23 percent to £1.36 billion (€1.53bn-$1.86bn) in the four months to Dec. 31, with a 36 ...
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News briefs
French shoe retailers suffer 27.5% drop in 2020 sales
Going through two Covid-related lockdowns, French specialty retailers saw their average sales decline by 18 percent in 2020, although their online turnover jumped by 80 percent for the year, including a growth of 85 percent in December, according to their trade association, Procos. Shoe retailers suffered the biggest losses with ...
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News briefs
Crocs guides for 20-25% growth in 2021
Crocs’ management told investment analysts at the ICR Conference that it is expecting to report a sales increase of more than 12 percent for the 2020 financial year, up from a previous guidance of 5 to 7 percent. In the fourth quarter alone, the growth rate reached a level of ...
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News briefsCaleres reshuffles its senior management
Caleres has reshuffled its senior management, a move which it expects will ensure “greater alignment with its strategic direction, accelerate its growth initiatives, unlock the power of its portfolio of brands and drive sustainable, long-term value for its shareholders.” Under the reorganization announced in December, Jay Schmidt was named president ...
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News briefs
Rothy’s wins lawsuit against Giesswein on pointed-toe loafer
The San Francisco based shoe company Rothy’s has won a patent infringement lawsuit against the Austrian shoemaker Giesswein Walkwaren regarding its pointed-toe loafer-style flats. According to the High Court of Justice’s Business and Property Courts of England and Wales, Giesswein’s “Pointy Flat” shoe infringed on Rothy’s “Pointed Loafer” and can ...
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News briefs
Shoes.com merger with Running Specialty Group completed
CriticalPoint Capital (CPC), a Californian private investment firm, said that it has completed the merger of the recently acquired Shoes.com business with its existing business Running Specialty Group, which operates the footwear and athletic specialty retailers JackRabbit, Olympia Sports and Clever Training. The group has some 130 retail stores across ...
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News briefsNative Shoes appoints Kyle Housman CEO
Native Shoes, the Canadian footwear company, has promoted Kyle Housman to the position of CEO with immediate effect. He replaces Scott Hawthorne, who becomes executive chairman. Housman was previously president and has been credited by the company for having contributed to “significant revenue growth” by bolstering its direct-to-consumer business. Housman ...
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News briefs
Onward Luxury Group taken over by its management, changes names
The Japanese group Onward Holdings has sold its Italian unit Onward Luxury Group (OLG) to the latter’s management. With the management buyout completed in December, the company has changed names to High Italian Manufacturing (HIM). OLG was bought through the holding company Nemo which is owned by OLG’s chairman Fabio ...
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News briefsAsos to create 2,000 jobs for new £90m U.K. fulfilment center
The fashion online retailer Asos has unveiled plans to invest £90 million (€99.7m - $122.4m) in a new U.K. fulfilment center where it hopes to employ 2,000 people over the next three years. Asos said the 437,000 square foot warehouse in Staffordshire, West Midlands, which is being developed by AEW ...
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News briefs
Wolverine makes two big executive appointments
Wolverine Worldwide has made a couple of executive appointments to ring in the new year. It has expanded the duties of Jim Zwiers, the current president of its international group. Zwiers is now also president of Wolverine’s global operations group, overseeing portfolio-wide sourcing, logistics, distribution, customer service and information technology. ...
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News briefs
FLA members cannot use products from the Xinjiang region
In an unprecedented move, the Fair Labor Association (FLA) has prohibited its member companies from sourcing from or producing in the Xinjiang region, in northwest China, because of growing concerns over violations of human and labor rights. The region is home to several ethnic minority groups, including the Uyghur people. ...
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News briefsBeaumanoir sells a majority stake in its Chinese business
Beaumanoir, the French clothing and footwear retailer, has sold a majority stake in its Chinese business to Zhongke, which recently bought C&A’s activities in the country. No financial details were released. Beaumanoir decided to set up a “strategic partnership” with Zhongke because the Chinese market is evolving and the support ...
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News briefsANWR to hold hybrid trade fairs in 2021
The German footwear buying group ANWR is planning its 2021 trade fairs in hybrid form, with physical shows in Mainhausen, near Frankfurt, and virtual events. The events in Mainhausen will only take place if the coronavirus situation allows. Regardless of possible ongoing coronavirus-related restrictions, ANWR is planning to rely ...
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News briefs
Pierre Cardin dies at 98
The French designer Pierre Cardin died at the age of 98 at the American hospital in Neuilly-sur-Seine, near Paris. He was born in Italy, but to escape fascism his family moved to France when he was two. Cardin “never forgot his origins while having an unconditional love for France,” his ...
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News briefs
China launches an anti-trust probe against Alibaba
The Chinese government’s State Administration for Market Regulation (SAMR) has launched an anti-trust investigation against the Alibaba Group to verify charges that its marketplaces require merchants to sign exclusive agreements that prevent them from offering products on other internet platforms. Separately, the People’s Bank of China said that Ant, Alibaba’s ...
