Product & Marketing – Page 106
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News briefs
Rocky Brands sees business positioned for H2 improvement
Despite experiencing strong sell-throughs at several major U.S. wholesale accounts, the U.S. footwear company Rocky Brands reported a 38 percent decline in second-quarter sales to $99.8 million from $162.0 million a year earlier. Revenues in the wholesale segment declined by 45.5 percent to $71.5 million and fell by 3.6 percent ...
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News briefsFrom 3D printer to foot to compost heap
With the help of a materials-science company, designer Kitty Shukman has produced a slide with the look and circularity of tree roots. Its synthetic tendrils wrap around the foot like a banyan around a Cambodian temple. The shoe model is in fact called Roots and is produced with 3D printers ...
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ArticleSkechers raises earnings guidance for the year as DTC, international operations shine in Q2
Skechers raised its guidance for earnings in the full year, after its direct-to-consumer (DTC) and international operations performed strongly in the second quarter ended June 30. While its domestic wholesale business underperformed as expected, overall revenues rose by a reported 7.7 percent to $2,012.5 million and were 9.1 percent higher ...
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ArticleGlobal footwear production up 7.6% in 2022
In 2022, global footwear production increased by 7.6 percent to 23.9 billion pairs, returning to pre-Covid-19 levels, according to the World Footwear Yearbook 2023 released by the Portuguese footwear association Apiccaps. Footwear manufacturing continues to be strongly concentrated in Asia where almost nine out of every 10 pairs of ...
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ArticleShein calls for review of U.S. “de minimis” trade rule in a move to stem criticism
Shein, the Singapore-based online fashion retailer, has proposed to work with the U.S. retail industry in order to jointly propose a new framework for Section 321 of the Tariff Act of 1930, known as the “de minimis” exemption. The company said that in a letter sent to the American Apparel ...
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ArticleAuthentic Brands Group takes over Rockport
Authentic Brands Group (ABG) is taking over the troubled U.S. footwear firm The Rockport Company, following a decision by the United States Bankruptcy Court for the District of Delaware, and will rely on Marc Fisher Footwear to develop the brand in the United States. Further partnerships for Rockport are expected ...
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ArticleFootway applies for voluntary company reorganization due to ‘acute’ liquidity situation
Footway Group, a Swedish operator of specialized online stores, has applied for voluntary company reorganization. According to the company, the decision is based on “the very challenging conditions that the sports retail industry in Sweden and Norway has faced in recent months,” which have led to an “acute” liquidity situation. ...
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News briefs
Relaxo’s Q1 profitability surges on higher sales
Relaxo Footwears, an Indian group that sells shoes under various brands including Sparx, Flite and Bahamas, posted revenues from operations of 738.8 crore rupee (€81.5m) in the first quarter ended June 30, up by 10.74 percent year-on-year. Total income grew by 11.14 percent to INR 746.1 crore (€82.3m). In the ...
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News briefs
BasicNet's H1 earnings decline
BasicNet, the Italian parent of Kappa, Robe di Kappa, K-Way, Superga, Sebago and other brands, suffered a 30.8 percent decline in first-half net profit to €7.4 million as the bottom line was weighed down by amortization charges and financial items. Ebitda was steady, rising slightly to €22.6 million from €22.4 ...
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News briefsHermès’ H1 sales rise by over 22%
Hermès’ first-half revenues were €6,698 million, up by a reported 22.3 percent and by 25.2 percent at constant currency rates, with growth of 20 percent or above in all geographical areas. The leather goods and saddlery division booked sales of €2,780 million, up by a reported 17.9 percent and by ...
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News briefs
Gap names a new CEO from Mattel
Gap Inc. has appointed Richard Dickson as president and CEO, effective Aug. 22. Dickson joins Gap from his most recent role as president and chief operating officer of Mattel, where he was ”a lead architect in a global corporate transformation that has reinvigorated Mattel’s iconic brands, including Barbie, Hot Wheels ...
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ArticleConcern about a slowdown at Heydude weighs on Crocs
Crocs Inc. generated more than $1 billion in second-quarter revenues on 12 percent constant-currency growth. The company increased its annual revenue guidance on to surpass the $4 billion mark, but the company’s share price plummeted 14 percent on the day on worries that the group’s pace of revenue growth, particularly ...
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ArticleRichemont buys controlling stake in Gianvito Rossi
Richemont has acquired a controlling stake in Gianvito Rossi, an Italian luxury shoemaker. No financial details were released. Gianvito Rossi, the founder, CEO and creative director of the eponymous brand, will retain a stake in the company and continue to “nurture and develop” the brand in partnership with Richemont, the ...
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ArticleHoka paces Deckers in Q1, company lifts FY guidance
Deckers Brands, intent on growing both its direct-to-consumer and international businesses in the months ahead, generated a 42 percent increase in net income to $63.6 million in the first quarter ended June 30 versus $44.8 million a year earlier. Operating income was 26 percent higher year-over-year at $70.7 million. ...
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News briefs
Xero Shoes hires new chief product officer
Following the retirement of Dennis Driscoll after a nearly 50-year career in the footwear industry, Xero Shoes has hired Michael Pao as its new chief product officer, effective immediately. Pao joins Xero from Timberland, where he served as vice president of global merchandising. In his 20-year career, the former professional ...
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News briefs
Zegna's H1 sales rise nearly 24%
The Italian fashion group Ermenegildo Zegna’s first-half revenues rose by 23.9 percent to €903 million. Revenues at constant currency were up by 24.7 percent, and organic growth was 21.5 percent. The top line was underpinned by the consolidation of Tom Ford International and Pelletteria Tizeta from April 29. Revenues for ...
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ArticleTod’s’ H1 sales rise 21.7%, Ebit expected to double
Tod’s released preliminary sales data for the first half of 2023 that come in at €569.1 million, up by 21.7 percent year-on-year on a reported basis and by 22.8 percent at constant currency rates. The figure was in line with market expectations. Financial analysts expect that the Italian fashion house ...
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ArticlePrada’s footwear sales rise 20% in H1
In the first half of 2023, footwear sales for the Prada group in the retail channel rose by 20 percent at constant currency rates to €374 million. Shoes represented 19 percent of the group’s quarterly retail sales. The group posted growth in all footwear collections: lifestyle, sneakers and formal. Growth ...
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News briefs
H&M sues Shein in Hong Kong
H&M is sueing the Singapore-based fast-fashion retailer Shein in Hong Kong for alleged copyright infringement. An H&M spokesperson told the news agency AFP that “in multiple cases” Shein infringed on the designs of the Swedish fashion retailer. The lawsuit also involves Zoetop Business, the Hong Kong-based entity that previously owned ...
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News briefs
Amazon’s remedies to Marketplace satisfy the U.K.'s watchdog
The Competition and Markets Authority (CMA), the British competition watchdog, said the offer from Amazon to change the way it treats third-party sellers using its Marketplace platform in the U.K. addressed its competition concerns. “The CMA’s preliminary view is that the offer from Amazon addresses its competition concerns and the ...
