Product & Marketing – Page 102
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ArticleDesigner Brands sees tailwinds from Nike sales, ‘softer’ comps as economic pressures continue
Designer Brands maintained its sales and earnings guidance for the full year, highlighting the “softer” comparable figures it is facing in the third and fourth quarters and an expected lift from the sale of Nike shoes, as it resumes sales after renewing its partnership with the U.S. sportswear company earlier ...
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News briefs
Zalando's co-CEOs confirmed until end 2023
Zalando’s founders Robert Gentz and David Schneider will continue to lead the company as co-CEOs. The supervisory board made the decision at its regular third-quarter meeting and extended both contracts by another four years until December 2027. Gentz and Schneider will drive the strategy to establish Zalando as the first ...
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ArticleTod’s’ operating profits beat expectations
In the first half of 2023, Tod’s posted earnings before interest and tax (Ebit) of €60.3 million, significantly higher than the €17.7 million posted a year earlier and the €36 million forecast by financial analysts. The Ebit margin widened to 10.6 percent from 3.8 percent the previous year. The Italian ...
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ArticleJungheinrich takes over the robotics firm Magazino
Jungheinrich, a Hamburg-based provider of logistics equipment and solutions, has taken full control of Magazino, a Munich-based robotics specialist. Magazino, which has 130 employees, was founded in January 2014 and created Toru, a robot that was developed to provide a flexible and economical automation solution in existing warehouses. It can ...
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ArticleMicam continues to showcase 12 emerging footwear designers
Scheduled to run from Sept. 17 to 20 at the Fieramilano Rho exhibition center at the outskirts of Milan, the 96th edition of the Micam footwear fair will, as always, showcase twelve up-and-coming footwear designers. Selected by a panel of some of the leading names in the Italian fashion and ...
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Naf Naf files for receivership
The French fashion brand Naf Naf has asked to be placed into receivership as it faces arrears in rent payments that it accumulated during the Covid-19 lockdowns, a company spokesperson told the news agency AFP. The request was made with a commercial court located in Bobigny in the outskirts ...
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Church’s launches a capsule collection for Miu Miu
Miu Miu has entered into a collaboration with Church’s. Both brands are part of the Prada Group. The collaboration infuses “the formality of the heritage brand with the free spirit the Miu Miu name represents,” the group said in a statement. The capsule collection Church’s X Miu Miu includes two ...
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ArticleCaleres maintains guidance as profits increase in Q2 despite ‘choppy’ market
Caleres maintained its earnings and revenue guidance for the full year, after posting better-than-expected profits in the second quarter despite a slightly worse-than-anticipated sales performance and a market that continues to be “choppy”. In the second quarter ended July 29, sales at the U.S. footwear group slipped by 5.8 percent ...
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ArticleSergio Rossi boosts H1 sales
In the first half of 2023, Sergio Rossi, the Italian shoemaker owned by the Chinese luxury goods firm Lanvin Group, posted sales of €33 million, up by 22.4 percent from a year earlier. The brand’s sales rose by 29.7 percent in EMEA, 31.5 percent in North America and 20.9 percent ...
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ArticleNext hikes stake in Reiss to 72%
The British fashion retailer Next and the Reiss family have agreed to acquire a 34 percent interest in the fashion group Reiss for £128 million (€149.3m) from the private equity Warburg Pincus. Upon completion of the transaction, which is expected to take place in mid-October, Next’s holding in the Reiss ...
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Coats completes the sale of its European Zips business
Coats said that it has completed the sale of its low margin European Zips business. On July 4, the British industrial thread and global footwear component manufacturer, announced that it had entered into an agreement to sell its European Zips business to Aequita, a German family office, for an expected ...
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ArticleWolverine sells Hush Puppies IP in China, Hong Kong, Macau, divests U.S. leather business
Wolverine World Wide announced additional steps in the ongoing streamlining of its brand portfolio, including the sale of Hush Puppies intellectual property in China, Hong Kong and Macau, and the sale of its U.S. Wolverine Leathers business. The portfolio transformation is expected to help the company become more efficient, direct ...
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ArticleFrasers increases its stakes in Boohoo and Asos
Mike Ashley’s Frasers Group has again increased its stake in Boohoo, just days after doing the same at Asos, another British fast fashion e-tailer. In two days, Frasers, the owner of Flannels and Sports Direct, among others, lifted its stake in Boohoo to 10.42 percent from 7.8 percent, meaning it ...
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News briefs
Designer Brands president William Jordan to leave
Designer Brands announced that William (Bill) Jordan, the president of the company and president of Camuto LLC, will step down from his positions on a date that is expected to be on or before Dec. 1, 2023. The announcement was made in 8-K filing with the U.S. Securities and Exchange ...
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Crocs hires a new head of investor relations
Crocs has hired Erinn Murphy as senior vice president, investor relations and corporate strategy. She will join the company’s leadership team on Sept. 5, reporting directly to the group’s executive vice president and chief financial officer, Anne Mehlman. Murphy joins the company from the investment bank Piper Sandler. She built ...
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Unity Brands buys Casca Footwear
Unity Brands has bought Vancouver-based Casca Footwear, which was founded in 2017 by Braden Parker and Kevin Reid. No financial details were available. “I am incredibly proud of what we have built over the last seven years, and I’m looking forward to seeing Casca achieve new levels of growth with ...
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ArticleSchuh shines for Genesco in Q2, but company retains ‘cautious’ FY view
Bolstered by warm weather and higher average selling prices (ASPs), the Schuh Group segment of Genesco reported a record quarterly operating income of $8.4 million against $2.1 million a year earlier. With approximately 40 percent of its business generated by the digital channel, Schuh reported 21 percent sales growth to ...
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ArticleShoe Carnival cuts guidance again but makes inroads among higher-income customers
Shoe Carnival cut its full-year sales and earnings per share guidance for the second time as less affluent urban clients continue to face adverse economic conditions. However, the U.S. footwear retailer noted that its business environment is improving thanks to moderating inflation and by attracting more higher-income customers. “Simply ...
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News briefs
Shakira becomes global brand ambassador for Ipanema
Shakira, the Colombian singer, is the new global brand ambassador for Ipanema’s Sempre Nova collection, starting with next year’s spring/summer collection. Ipanema, a brand of women flip flops, sandals and slides, is owned by the Brazilian footwear manufacturer Grendene. “This collection, recently launched worldwide, resonates with people from diverse ...
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Pou Chen to axe more jobs in Vietnam
Pou Chen Corp, the world’s largest athletic footwear manufacturer, has told authorities that it will lay off 1,221 people on permanent contracts at its Ho Chi Minh City factory in Vietnam. Since the beginning of the year, Pou Chen has reduced the number of employees at the factory, which was ...
