All News briefs articles – Page 30
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News briefs
Tod’s hires John Galantic as CEO
Tod’s has appointed John Galantic, the former head of Chanel, as CEO. He replaces Diego Della Valle and his brother Andrea who were co-CEO and remain as chairman and vice chairman, respectively. The management shakeup comes after the luxury goods company went private in June. Earlier this year, Crown Bidco, ...
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News briefs
Puma hires a new CFO
Puma has appointed Markus Neubrand as its Chief Financial Officer and a member of the management board, effective Oct. 1, succeeding Hubert Hinterseher, whose contract will end by mutual agreement on Dec. 31. Neubrand will oversee finance, investor relations, legal, IT and business solutions at the German sportswear group. He ...
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News briefs
Lowa appoints a new Marketing Director
Lowa, the German manufacturer of mountain, outdoor and everyday footwear, has hired Ulf Michels as Head of Marketing. He took up the role at the beginning of September and succeeds Michael Frank, who left the company at the end of 2023. Michels, 45, brings extensive experience in marketing ...
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News briefs
Italian regulator probes Shein for allegedly misleading sustainability claims
The Italian antitrust agency, AGCM, has launched an investigation into Infinite Styles Services CO. Limited, a Dublin-based company that manages the Italian website of the Chinese fast fashion group Shein, for allegedly misleading information regarding the “environmental sustainability” of the retailer’s clothing. The agency believes that some content included in ...
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News briefs
German economy under increasing pressure
In September, the business climate in Germany decreased to 85.4 from 86.6 in August, marking the fourth consecutive month of decline, according to the latest survey released by think tank Ifo. The figure was below economists’ expectations of a reading of 86.1 for the month. “The German economy is coming ...
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News briefs
Nike names Elliott Hill as CEO
Elliott Hill will become the President and Chief Executive Officer of Nike, effective Oct. 14, 2024. Hill will also become a Director of Nike’s board of directors and a member of the executive committee. He replaces John Donahoe, who will retire from his role as President and CEO and ...
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News briefs
Cambodian footwear exports up 22% in first 8 months of 2024
Cambodia exported $9,217 million worth of garments, footwear and travel goods in the first eight months of 2024, up by 22.8 percent from a year earlier, according to the General Department of Customs and Excise. Garments and textiles exports were up by 23 percent to $6,814 million, footwear grew by ...
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News briefs
UK clothing and footwear sales surge in August
In August, retail sales volumes for clothing and footwear rose by 2.9 percent month-on-month for clothing and footwear stores in the UK thanks to warmer weather and end-of-season sales, according to an initial estimate by the Office for National Statistics (ONS). Overall, British retail sales volumes are estimated to have ...
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News briefs
Deckers carries out a six-for-one share split
Deckers Brands carried out a six-for-one share split to make the ownership of its stock more affordable and attractive to a broader group of investors. The share split was approved by shareholders on Sept. 6 and shares started trading on a post-stock split adjusted basis on Sept. 17. ...
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News briefs
Austrian shoe retailer Shoe4You opens four stores in Upper Austria
The Austrian shoe retailer Shoe4You is expanding its footprint in Upper Austria with the opening of four new stores in Wels, Schlüßlberg, Rohrbach and Bad Ischl. “With these new openings, we are expanding our accessibility and getting closer to our customers in Upper Austria, strengthening our market presence in ...
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News briefs
Kybun Joya appoints new COO to drive expansion
The Swiss comfort shoes manufacturer Kybun Joya is bolstering its management team with the appointment of a new chief operating officer. Steffen Breitschwerdt, 45, who previously held various management roles at Strellson, Joop!, Windsor and Philipp Plein, joined the company in August. The appointment of Breitschwerdt, who brings more ...
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News briefs
Bernd Hummel closes a shoe factory in Germany
The German footwear manufacturer Bernd Hummel, the licensee of the Kangaroos label and owner of the Flip Flop brand, will halt production at its plant in Münchweiler, near Pirmasens, by the end of the year. The entrepreneur Bernd Hummel acquired the facility in 2012 from the bankruptcy estate of ...
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News briefs
Shoes Düsseldorf moves dates forward
The German trade fair organizer Igedo has rescheduled its Shoes Düsseldorf trade fair, held at the Areal Böhler, to an earlier date. The footwear fair will now be held from Feb. 2 to 5, 2025, instead of the previously scheduled Feb. 23-25, moving it forward by four weeks compared ...
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News briefs
Zegna’s organic sales slip in H1
In the first half of 2024, Ermenegildo Zegna’s revenues rose by 6 percent to €960.1 million. At constant currency rates, the top line rose by 8 percent while organic revenues dropped by 2.7 percent. The gross profit margin widened to 66.4 percent from 64.2 percent a year earlier. However, ...
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News briefs
Demand for luxury goods to remain under pressure due to China
Consumer discretionary categories such as jewelry, beauty, apparel and footwear are expected to remain under pressure due to ongoing weakness in Chinese consumption, Deutsche Bank Research said in a note. The bank forecasts China’s retail sales to grow by 4.1 percent in 2024 and by 5.0 percent in 2025.
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News briefs
THG to demerge its technology business
THG is looking into the option of demerging its technology services arm, THG Ingenuity, as the British e-commerce group looks to focus on its cash generative businesses. “After extensive discussions with shareholders over the past 12 months, THG is progressing options to demerge THG Ingenuity, leaving our highly profitable and ...
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News briefs
US footwear prices decline in August
In August 2024, the price of shoes declined in the US for the first time in a year, driven by women’s and children’s footwear, according to Footwear Distributors and Retailers of America (FDRA). Overall, footwear prices fell by 0.9 percent from a year earlier, with the prices of men’s shoes ...
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News briefs
US to plug trade loophole on low-value China shipments
The US government said it was taking steps to protect “American consumers, workers and businesses” from the “overuse and abuse” of a trade law that allows low-value shipments to come into the US without paying import duties and taxes. The so-called “de minimis” loophole allows shipments worth less than $800 ...
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News briefs
China to gradually increase the retirement age
China’s lawmakers have approved a proposal to gradually increase the retirement age, the news agency Xinhua reported. The legal retirement age will be increased from 60 to 63 years for men and to 55 from 50, or from 55 to 58 based on one’s employment, for women. The increase of ...
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News briefs
German shoe chain Gero Mure files for bankruptcy
The German shoe chain Gero Mure has filed for bankruptcy as rising costs, online competition and the lingering effects of the Covid-19 pandemic put a strain on footwear retail. Around 40 employees across six stores – two in Mannheim’s Planken shopping street, two in Baden-Baden, and one each in ...
