All News briefs articles – Page 20
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News briefs
Reebok unveils new premium sportstyle line in partnership with Farfetch's NGG
Reebok has unveiled Reebok LTD, a new premium line led by New Guards Group (NGG), with the goal of further elevating the Reebok brand through new products and collaborations. Reebok defines LTD as “a playground for creative evolution” under the motto “LEARN. TEST. DESIGN.” (LTD); a platform to unleash personal ...
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News briefs
Asos appoints William Barker to its board
Asos has appointed William Barker as a non-executive director. Barker is the founder and CEO of Camelot Capital Partners, a California-based investment management company. Camelot Partners holds 16,722,381 ordinary shares in Asos, representing 14.02 percent of the issued share capital of the British online fashion retailer. “Asos has a long-standing ...
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News briefs
Novelship secures $9.5 million in Series B funding
Novelship, a Singapore-based marketplace founded in 2018, has received US$9.5 million in its Series B funding round led by East Ventures, iGlobe Partners and GSR Ventures. The company said the new funding will accelerate its efforts to strengthen its brand presence across Southeast Asia. This includes improving logistics capabilities, refining ...
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News briefs
Weak demand expected to prolong destocking in the U.S., EU
Weak demand in the U.S. and the European Union is expected to prolong destocking by brands and affect manufacturers of sportswear and footwear in 2024, according to the brokerage Jefferies. Despite resilient production by original equipment manufacturers (OEMs), Jefferies said that it has witnessed brands like Uniqlo “trimming orders and ...
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News briefs
Mike Ashley cuts his stake in Hugo Boss
Mike Ashley, the majority owner of the British retailer Frasers Group, has cut his stake in Hugo Boss to 19.65 percent from a previous 24.39 percent, according to a regulatory filing from the German fashion house. The figure includes financial instruments owned by Frasers. Ashley now owns 1.63 percent in ...
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News briefs
Gerry Weber creditors approve restructuring plan
Another hurdle was cleared for the troubled German fashion group Gerry Weber. The creditors of the insolvent company voted by a large majority in favor of a restructuring plan which includes a capital cut and the injection of new funds. Under the plan, Gerry Weber’s existing shareholders will be ...
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News briefs
Zalando launches Stories
In close collaboration with Highsnobiety, Zalando has introduced Stories on its platform. Curated editorial content is seamlessly linked to the shopping experience in visual formats, such as short videos, and is intended to serve as a new source of inspiration for customers. Stories on Zalando can be experienced not only ...
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News briefs
Heydude fined by U.S. consumer protection agency
Crocs-owned brand Heydude has agreed to pay $1.95 million to settle allegations by the U.S. Federal Trade Commission (FTC) that it misled consumers by suppressing negative reviews, including more than 80 percent of those that did not award four or more stars. The FTC accuses the company of violating its ...
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News briefs
Footasylum adopts new retail concept in larger store
Footasylum, leading British retailer of branded fashion and footwear, has moved to a new and improved retail space at the Lakeside Shopping Centre in England, where it previously occupied a space of around 300 square meters. The new 900-sqm space features a refreshed store concept that seeks to create a ...
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News briefs
Garmont posts 16% sales growth in H1
Italian outdoor footwear manufacturer Garmont saw its sales increase by 16 percent in the first half of 2023 as compared to the same period of 2022, with Ebitda up by 38 percent. The company attributed the growth in the first half to the outdoor segment and its new products for ...
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News briefs
Peugeot Invest buys a stake in Gruppo Florence
Peugeot Invest, the holding company of the Peugeot family, has invested €20 million in Gruppo Florence, an Italian holding company that owns 26 suppliers to the luxury goods industry, including three footwear manufacturers, according to the daily Corriere della Sera. Peugeot Invest, which has a 7 percent stake in the ...
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News briefs
Designer Brands unveils first shoe produced by JEMS by Pensole
On Sept. 15, Designer Brands, the parent of the shoe retailer DSW Designer Shoe Warehouse (DSW), unveiled the FIRST JEM, the inaugural shoe from the JEMS by Pensole brand. It is the first shoe to roll off the assembly line at one of the first Black-owned footwear factories in the ...
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News briefs
H&M’s Q3 sales disappoint
H&M’s net sales in the third quarter that ended Aug. 31 reached SEK 60.897 billion (€5.1bn), up by 6 percent from a year ago but were “flattish” in local currency terms. Excluding Russia, Belarus and Ukraine, sales rose 8 percent in Swedish krona. H&M wound up its operations in Russia ...
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News briefs
Elisabet obtains Elisabetta Franchi license for girls’ shoes
Elisabet will be supplying shoes for girls aged between 0 and 14 under the Elisabetta Franchi brand starting with the spring/summer 2024 collection. The license covers Europe, the Middle East and Africa. The shoes will be available in third-party stores and through the retail network of the Elisabetta Franchi ...
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News briefsBASF presents process to recycle PU to produce new soles
At Simac Tanning Tech 2023, the international trade fair for machinery and technology for the footwear and leather industry, which takes place from Sept. 19 to 21 in Milan, the German chemical group BASF will be presenting a new process that makes it possible to use granulated polyurethane (PU) waste ...
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News briefs
Golden Goose’s H1 sales up 21% to €276.4m
Golden Goose’s first-half revenues totaled €276.4 million, up by 21 percent year-on-year and by 65 percent compared with the same period in 2021. The Italian sneaker brand said that growth was underpinned by its internationalization, the focus on direct-to-consumer (DTC) sales and the expansion of its product range. DTC sales ...
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News briefs
Saucony launches its 'most sustainable' sneaker to date
Saucony has launched the Triumph RFG (Running For Good), described by the performance running lifestyle brand as “its most sustainable shoe to date.” The new shoe features plant-based, petroleum-free CovationBio PDO Susterra propanediol. The Triumph RFG is the first athletic shoe to utilize 55 percent of Susterra propanediol in a ...
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News briefs
Italy on the edge of a recession
Italy’s gross domestic product (GDP) is now expected to rise by 0.8 percent in 2023 and by 1.0 percent in 2024, said Mariano Bella, director of the research office of Italian retailers’ association Confcommercio. That compares with Confcommercio’s previous estimates of 1.2 percent and 1.3 percent growth for the two ...
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News briefs
Inditex’s H1 sales up 13.5%
Inditex, the Spanish group that owns the brands Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius and Oysho, said that in the first half ended July 31 net sales rose by 13.5 percent to €16.9 billion. At constant currency rates, the top line grew by 16.6 percent. Gross profit increased by 14.1 ...
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News briefs
Zegna’s H1 net profit rises nearly 148%
The Italian fashion house Ermenegildo Zegna posted a net profit of €52.1 million in the first half of 2023, up by 147.9 percent compared to the year earlier. Revenues for the period, which was already reported in July, increased by 23.9 percent to €903.1 million. The group’s adjusted Ebit was ...
