All News briefs articles – Page 90
-
News briefs
Spartoo completes minority stake purchase in SAAJ
Spartoo has completed the acquisition of a minority stake in the French brand SAAJ through a capital increase. No further financial details were released. SAAJ is a fast-growing digital native brand, founded in 2016 by Maelys and Jérémy. The investment will enable the SAAJ brand to accelerate its development, according ...
-
News briefs
Next Q2 sales ahead of expectations
In the second quarter ended on July 30, Next’s full-price sales rose by 5.0 percent versus last year and were £50 million (€59.4m) more than it had expected. The British apparel retailer maintained its full-price sales growth guidance second half at 1.0 percent. But, Next increased its full-year profit guidance ...
-
News briefsCoats’ Apparel & Footwear sales up 21% in H1
The British thread manufacturer Coats posted sales of $801 million in the first half of 2022, up by a reported 14 percent and by 19 percent at constant currency rates driven by its Apparel & Footwear (A&F) division. The top line benefited from favourable underlying market conditions and early pricing ...
-
News briefsJD Sports hires former Monoprix head as CEO
JD Sports Fashion has appointed Régis Schultz as its new chief executive officer. From August 2016 to July 2019, he was the head of Monoprix, a French city-center food and fashion retailer that is part of Groupe Casino. During his time there he launched and executed a new digital strategy, ...
-
News briefs
Global Payments buys EVO
Global Payments, a U.S. provider of payment technology and software solutions, has reached an agreement to buy EVO for $34.00 per share. The bid represents a $4.0 billion of enterprise value for EVO. “The acquisition of EVO is highly complementary to our technology-enabled strategy and provides meaningful opportunities to increase ...
-
News briefs
Pollini’s H1 sales surge
Pollini, the luxury footwear brand owned by the Italian fashion house Aeffe, posted sales of €16.5 million in the first half of 2022 compared with €11.2 million a year earlier. Meanwhile, Aeffe booked revenues of €176.5 million during the period, up by 13.9 percent on the year earlier on a ...
-
News briefs
Footwear was Prada’s fastest growing category in H1
Footwear was the fastest growing category for the Prada Group in the first half of 2022, rising by 39 percent year-over-year at constant currency rates to represent €320 million in retail sales. Meanwhile, ready-to-wear was up by 31 percent to €461 million and leather goods increased by 18 percent to ...
-
News briefs
Hermès H1 sales up 29%
In the first half of 2022, Hermès’ attributable net income rose to €1,641 million from €1,174 million a year earlier as revenues reached €5,475 million, up by 29 percent at current rates and by 23 percent at constant rates. Sales for the leather goods and saddlery business totaled €2,358 million, ...
-
News briefs
Rebag expands into shoes
The luxury re-commerce platform Rebag is expanding into two new categories, shoes and apparel. The company said that the move will enable it to offer ”all luxury accessories for both men and women.” Rebag will buy and sell shoes, including sandals, sneakers, heels, boots, and loafers, as well as select ...
-
News briefs
Most Americans to spend more on shoes during back-to-school season
A survey carried out by the Footwear Distributors and Retailers of America (FDRA) and First Insight showed that 78 percent of American families plan to spend more or the same as last year on children’s shoes during the back-to-shool season. According to a survey of 691 households with children attending ...
-
News briefs
Merrell’s ReTread take-back program starts in Europe
Merrell’s sustainability initiative “This Is Home,” launched earlier this year in the U.S. and Canada, has been introduced in Europe. As part of the “This Is Home” initiative, Merrell is rolling out, in partnership with ReCircled, a multinational product take-back and resale program called Merrell ReTread to save ...
-
News briefs
Aquafil and Genomatica advance on plant-based nylon-6
Aquafil and Genomatica have been collaborating to produce pilot-scale quantities of plant-based nylon-6 and have announced that they have now successfully completed the first demonstration-scale production runs. This will help determine the final design of future commercial plants and constitutes a step closer to the commercialization of the material. Plant-based ...
-
News briefs
Amazon Q2 sales rise 7%
Amazon significantly increased its revenue in the second quarter despite high inflation and recession worries. Revenues increased by 7 percent year-on-year to $121.2 billion. Although operating profit fell from $7.7 billion to $3.3 billion, it exceeded experts’ expectations. On the bottom line, Amazon posted a net loss of $2.0 billion, ...
-
News briefs
Siro Badon resigns as head of Assocalzaturifici
On July 26, Siro Badon resigned as president of the Italian footwear association, Assocalzaturifici. Elected in June of 2019, he resigned for ”personal and professional reasons as a result of his workload in his company, which prevents him from continuing to guarantee constant availability for the association,” Assocalzaturifici said in ...
-
News briefs
Shoe Zone improves its FY guidance
Shoe Zone has increased its full-year guidance and now expects adjusted profit before tax to be not less than £9.5 million (€11.5m). The forecast excludes the profit on the sale of freehold property and foreign exchange revaluations. The previous guidance for the full year ending on Oct. 2 was for ...
-
News briefs
Kizik raises $20m in a series B fund round
Kizik, based in Lindon, Utah, has completed a $20 million series B funding round led by the private equity The Newcastle Network. The American footwear brand, whose parent company is HandsFree Labs, specializes in slip on shoes. It will use the funds to launch a Kizik Kids line and to ...
-
News briefs
Manolo Blahnik wins Chinese trademark battle
Manolo Blahnik has won a 22-year dispute to use its name in China. China is a “first to file” jurisdiction, meaning that the businessman Fang Yuzhou had obtained the rights to the brand’s name in 2000 following an application made in 1999. But in December 2020, the Supreme People’s Court ...
-
News briefs
JD Sports like-for-like sales up 5%
JD Sports Fashion said that total sales in like-for-like businesses were up by 5 percent year-over-year in the period ending June 30, which corresponds to the first five months of its fiscal year. The group confirmed its guidance for the fiscal year ending Jan. 28, 2023 of profit before ...
-
News briefs
Naot Footwear to open a flagship store in New York
Naot Footwear, an Israeli footwear company, plans to open a flagship store in New York City’s SoHo neighborhood in early fall 2022. The 800 square-foot store will be located 436 West Broadway, in the heart of SoHo, alongside the city’s most iconic boutiques. The brand claims it ”has long had ...
-
News briefs
Zalando names new head for German-speaking countries
Christoph Lütke Schelhowe, a former McKinsey associate principal, is Zalando’s new general manager for the German-speaking markets. Schelhowe has been with the company for almost ten years in different positions, most recently VP, demand – customer acquisition and engagement. He replaces Florian Jodl, who resigned.
