All News briefs articles – Page 25
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News briefs
Shoe Carnival renews its share buyback program
Shoe Carnival’s board authorized a new share repurchase program of up to $50 million in common stock, effective Jan. 1. It replaces a $50 million share buyback program that was authorized on Dec. 14, 2023, and expires on Dec. 31, 2024. The board also approved the payment of a quarterly ...
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News briefs
Inditex’s sales grow less than expected
In the first nine months to Oct. 30, Inditex’s sales grew by 7.1 percent to €27.4 billion, but missed market expectations. At constant-currency rates, the top line rose by 10.5 percent. In the sole third quarter, the top line came in at €9.4 billion against expectations of €9.5 billion. Gross ...
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News briefs
Primark plans to double its store network in Italy by 2030
Primark plans to invest €150 million in Italy by 2030 in order to double its store network to about 34 to 35 locations. The investment is expected to create some 2,500 jobs. With the opening on Dec. 12 of a store in Pontecagnano Faiano, in the southern province of Salerno, ...
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News briefs
Merrell hires a new Chief Product Officer as it expands into lifestyle
Merrell, the hiking and outdoor footwear brand owned by Wolverine Worldwide, hired Noreen Naroo-Pucci as Chief Product Officer to lead its expansion into the lifestyle segment. “As a global thinker and executive with multi-cultural experience, Naroo-Pucci will apply her skills to Merrell’s expansion as a lifestyle brand. Merrell’s strategic move ...
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News briefs
ThredUp sells its European business Remix
The US-based resale platform ThredUp has entered into a binding agreement to sell its European business, Remix, in a management buyout led by Florin Filote, the General Manager of Remix. The sale closed simultaneously with the signing of the agreement. Before the closing of the transaction, Remix received a final ...
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News briefs
EU-Mercosur free trade deal “in sight”
A free trade agreement between the European Union and Mercosur countries is “in sight” after 25 years of negotiations, according to Ursula von der Leyen, the President of the European Commission. “Touchdown in Latin America. The finish line of the EU-Mercosur agreement is in sight. Let’s work, let’s cross it. ...
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News briefs
Ferragamo expects €70-90m in impairments
Salvatore Ferragamo expects to book between €70 million and €90 million in asset write-downs on its 2024 results due to the slowdown affecting the luxury goods market. The final amount of the write-downs will be defined during an impairment test to be made by March 2025. The impairments will not ...
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News briefs
Cole Haan enters a distribution deal with HiMaxx in China
Cole Haan entered an exclusive distribution agreement in China with HiMaxx. In conjunction, the Chinese retailer announced a new premium branded division, focused on Cole Haan, under the leadership of co-founder and board member Jason Hou. Established in 1928, Cole Haan is an American lifestyle brand distributed in about 100 ...
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News briefs
Bureau Veritas buys LBS Luxury Brands Services
Bureau Veritas, a French provider of testing, inspection and certification services, bought LBS Luxury Brands Services, which specializes in quality assurance and quality control in the luxury industry. Bureau Veritas noted that the acquisition is in line with its strategy of strengthening its positioning and offering in the luxury and ...
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News briefs
Jack Schwartz Shoes obtains the Lee footwear license
Jack Schwartz Shoes has obtained the footwear license for Lee, the denim and casual lifestyle apparel label owned by Kontoor Brands. The men’s collection is expected to retail at below $100 a pair and will be presented to buyers during the FFANY market week in New York next month. Headquartered ...
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News briefs
Michael Kors reorganizes its management
Capri Holdings reorganized the management of its leading brand, Michael Kors. John Idol, the Chairman and Chief Executive Officer of Capri, will assume the role of CEO of the brand, effective Dec. 2. Cedric Wilmotte, who had been CEO of Michael Kors since April 2023, will leave the company after ...
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News briefs
Cambodia sees apparel, footwear, travel products orders up 20-30% in 2025
Orders received by Cambodian manufacturers of apparel, footwear and travel products are expected to increase by 20 to 30 percent in 2025 compared to 2024, according to the Cambodia Confederation of Investors Association (CCIA). “This increase in orders will provide more job opportunities for workers, contributing to improved employment prospects,” ...
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News briefs
VF to close a distribution center
VF Corp. will close a 46,500-square-meter distribution center in Martinsville, Virginia, in March 2025. The move will impact 242 employees, who will face layoffs by Jan. 19, 2025, according to Worker Adjustment and Retraining Notification (WARN) filings. The decision, part of the group‘s broader “Reinvent” turnaround strategy, aims to ...
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News briefs
Wolverine Worldwide appoints a Chief Product Officer for its Work Group
Wolverine Worldwide’s Work Group has named Mike Maloney as its new Chief Product Officer, effective immediately. Maloney, a footwear industry veteran with nearly two decades of experience at top brands including Adidas, Under Armour and Columbia Sportswear, will oversee product development, merchandising strategy and market expansion for the Work Group’s ...
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News briefs
OrthoLite expands its Indian business
OrthoLite has significantly expanded its operations in India with a larger manufacturing facility in Ambur, Tamil Nadu, and a new sales office in Chennai. This growth comes as part of the company’s strategy to meet increased demand under new leadership and to support its growing brand partnerships in the region. ...
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News briefs
JD completes the acquisition of Courir
JD Sports Fashion completed the acquisition of Groupe Courir for €520 million, following receipt of conditional clearance from the European Commission on October 22. “Courir is a market leader in sneakers in France, which is the largest sneaker market in Europe, and this acquisition reinforces our position within Europe,” according ...
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News briefs
Le Coq Sportif placed into receivership
A Paris-based commercial court has placed Le Coq Sportif into receivership. The Swiss group Airesis, which owns 75 percent of the French sportswear firm, indicated that Le Coq Sportif had applied to open a judicial restructuring procedure. The court confirmed the procedure. Le Coq Sportif will continue operating but has ...
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News briefs
Dean Shoes lays foundation stone of new Indian factory
On Nov. 15, MK Stalin, the Chief Minister of the Indian state of Tamil Nadu, laid the foundation stone for a manufacturing unit of the Taiwanese footwear firm Dean Shoes at SIPCOT Park in Jayankondam, in the Ariyalur district. Dean Shoes is investing about $118.5 million in the facility which ...
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News briefsDow launches low-carbon material solutions for the footwear industry
Dow launched a portfolio of low-carbon material solutions which it claims can help the footwear industry “develop more sustainable products which offer the same high-performance results.” The upgraded portfolio consists of bio-circular* materials attributed under a mass balance approach, reversible cross-linking resins, post-consumer recycled resins and polyolefin elastomers for artificial ...
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News briefs
Castañer opens its first store in Italy
After experimenting with a pop-up store in Milan last year, Castañer opened its first permanent store in Italy. The 33-square-meter store is located in Via del Babuino, one of Rome’s most exclusive shopping streets. The Spanish footwear brand is present in 20 countries through seven directly-operated stores, four in ...
