All News briefs articles – Page 15
-
News briefs
Inditex in a 3-year deal to buy a significant portion of cycora
Inditex has formed a strategic partnership with Ambercycle, a Los Angeles based material science company, to help scale textile-to-textile recycled polyester. As part of this collaboration, the Spanish company, which owns Zara, among other banners, has signed a three-year agreement to buy a significant portion of the annual production of ...
-
News briefs
Ferragamo takes full control of 3 Chinese joint ventures
Salvatore Ferragamo is taking full control of three joint ventures in Greater China by buying out the minority shareholder Imaginex for $42.0 million. Under the transaction, Ferragamo and its subsidiary Ferragamo Hong Kong are acquiring 25 percent stakes in Ferragamo Moda (Shanghai) and Ferrimag and a 24.8 percent stake in ...
-
News briefs
Caleres launches One Planet Standard designation
Caleres introduced the One Planet Standard designation for products that meet or exceed 51 percent on its Sustainable Footwear Index. The One Planet Standard considers the sustainability of a product across its entire lifecycle, including six key pillars: sample reduction, materials, packaging, supplier environmental social governance (ESG) initiatives, brand philanthropy ...
-
News briefs
Lenzing to axe 500 jobs
Lenzing plans to reduce global personnel costs by up to €30 million, or the equivalent of around 500 full-time jobs, by not filling positions that fall vacant due to retirements and natural attrition, as well as by job cuts. The move is part of a larger plan to achieve €100 ...
-
News briefs
Relaxo’s sales rise nearly 9% in H1
Relaxo Footwears, an Indian group that sells shoes under various brands including Relaxo, Flite, Bahamas and Sparx, posted revenues from operations of 1,454 crore rupee (€163.1m) in the first half ended Sept. 30, up by 8.75 percent year-on-year. Total income grew by 9.28 percent to INR 1,472 crore (€165.2m). In ...
-
News briefs
New Zealand sneaker brand has a new plant-based alternative to leather
New Zealand-based sustainable shoe brand YY Nation has released a new collection of court sneakers made using cactus. The release of the Fractus Cactus and the Status Cactus coincided with World Vegan Day on Nov.1. According to YY Nation, the cactus court sneaker range is “Crafted using natural materials ...
-
News briefs
Eurmoda buys Macuz
Eurmoda, an Italian supplier of components to the fashion industry, has bought Macuz, a Tuscan producer of high-quality metal components for the fashion industry. No financial details were available. Founded in Florence in 1952 by Marcello and Alma Macuz, the company will join a group that also comprises Margot and ...
-
News briefs
Vulcabras’ sales rise by double-digits for 13th consecutive quarter
Despite a challenging retail environment and some unfavorable macroeconomic circumstances, the Brazilian Vulcabras group generated record quarterly sales, Ebitda, and gross margin for the period ended Sept. 30. Third-quarter revenues rose by 10.2 percent to 731.4 million Brazilian reais (€136.7m) as Ebit improved by 42 percent to R$149.1 million (€27.9m). ...
-
News briefs
Asos posts a full-year loss
Asos posted an adjusted pretax loss of £70.3 million (€80.8m) in the fiscal year ended Sept. 3, compared with a profit of £22 million the prior year, as adjusted revenues fell by a like-for-like 11 percent to £3,538 million (€4,068m). Adjusted Ebitda fell to £124.5 million (€143.1m) from £183.9 million ...
-
News briefs
Polygiene posts an operating loss in Q3 due to lower sales
Despite a 30 percent decline in third-quarter revenues to 28.7 million Swedish kroner (€2.4m) and a corresponding operating loss of SEK 2.4 million, Polygiene is optimistic about fourth-quarter results as early orders have exceeded expectations. The group, which said third-quarter results showed signs of a slow recovery, has shifted its ...
-
News briefs
Timberland opens its first concept store in Japan
Timberland has opened its first concept store in Japan, in Tokyo’s Daikanyama neighborhood. The store offers footwear, limited-edition items and products created in collaboration with both domestic and international brands and artists, as well as the Japan-only premium line, Timberland +81 3. “With the launch of the Timberland +81 ...
-
News briefs
Doucal’s sees 2023 sales above €25m
Doucal’s, a producer of upmarket men’s and women’s shoes located in Montegranaro, in Italy’s Marche region, expects to post sales of more than €25 million this year, a slight increase from 2022. In an interview with the Italian business daily Il Sole 24 Ore, Gianni Giannini, who runs the family-owned ...
-
News briefs
A second activist investor targets VF
Los Angeles-based Legion Partners, has acquired an undisclosed stake in VF Corp. and wants the group to divest brands such as Timberland, Bloomberg reported, citing sources familiar with the matter. Previously, the California-based activist investor Engaged Capital outlined that VF is suffering from bloated overhead that is driving down shareholder ...
-
News briefs
Frasers sells the Missguided brand to Shein
The British retailer Frasers Group has sold the intellectual property (IP) of the Missguided fashion brand to the online fast fashion retailer Shein. Under the terms of the transaction, Shein will acquire the IP and trademarks of Missguided, while Frasers will retain Missguided’s real estate and employees which have now ...
-
News briefs
U.S. bioPU producer Algenesis raises $5m in funding round
Algenesis Corporation, an American plant-based material science company, has raised $5 million in a funding round. Algenesis claims that its Soleic technology is the world’s first renewable, high performance, fully biodegradable and backyard compostable biopolyurethane (bioPU) made from plants and algae. Unlike petroleum-based polyurethane (PU), Soleic PU can biodegrade in ...
-
News briefs
Crocs launches Retail Takeback Pilot Program in the U.S.
On Oct. 27, Crocs launched in the U.S. the Retail Takeback Pilot Program to donate or recycle old shoes. Under the program, consumers can bring old Crocs shoes, in any condition, back to all of the brand’s retail stores in 10 states: Colorado, Georgia, Illinois, Michigan, Massachusetts, Minnesota, Ohio, Pennsylvania, ...
-
News briefs
Shein in partnership with ABG’s Forever 21 brand
Authentic Brands Group (ABG) has signed a long-term partnership agreement with Shein for Forever 21, a lifestyle and fashion brand for men and women present globally in 572 locations and online. Through the partnership, the fast fashion online retailer will design, manufacture and distribute a line of Forever 21 apparel ...
-
News briefs
Inc.5 Shoes raises $10m in a Series A funding
The Mumbai-based omnichannel footwear brand Inc.5 Shoes has raised $10 million in a Series A funding round led by the local private equity Carpediem Capital. Param Capital and P3 Venture Fund also participated in the found. Created in 1998, Inc.5 Shoes retails through 70 stores and more than 200 shop-in-shops ...
-
News briefs
Skechers launches technical basketball shoes
Just in time for the start of the new NBA season, Skechers has unveiled its first line of technical basketball shoes to be sold in North America, the Philippines and China. The first wave of Skechers basketball shoes includes two different mid-top models, SKX Resagrip and SKX Float. Skechers has ...
-
News briefs
Hugo Boss issues maiden Schuldschein loan
Hugo Boss has issued its first Schuldschein loan, with a value of €175 million, to finance further investments as part of its ‘Claim 5’ growth strategy. The initial target volume from the Schuldschein – which is similar to a bond but doesn’t need to be registered on a stock exchange ...
