Product & Marketing – Page 127
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News briefs
Snipes hires a general manager for Europe
Dennis Schröder, the chief marketing officer who just left 11teamsports, will take over the position of general manager for Europe at the sneaker specialist Snipes from May 1, 2023, supporting its founder and CEO Sven Voth in the day-to-day operations. In addition to Voth, CFO Tim Spickenbom and COO Peter ...
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News briefs
Zalando hires head of retail from Nike
Benjamin Wolf, who served as Nike’s director of retail operations from March 2019 to January 2023, posted on LinkedIn that he has joined Zalando as head of retail, effective immediately. In total, Wolf spent roughly 15.5 years at Nike. On social media, he commented on the new job at the ...
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News briefs
Higher costs and bureaucracy weigh on German fashion retailers
Burdened by soaring costs and entangled in red tape, fashion retailers are “currently struggling with considerable problems” despite sales returning to pre-pandemic levels, a survey from Germany’s textile, shoes and leather goods trade association, BTE, showed. Retailers participating in the survey rated the surge in costs with an average ...
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ArticleCoats’ Apparel & Footwear sales up organic 9% in 2022
In 2022, Coats’ revenues rose by a reported 9 percent to $1.548 billion. On a constant currency basis, the top line was 16 percent higher and organic growth reached 10 percent, ahead of a targeted medium-term growth of about 6 percent. The Apparel & Footwear (A&F) dvisision saw full-year organic ...
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News briefs
LVMH launches €1.5bn share buyback
LVMH has begun a €1.5 billion share buyback program. In a statement, the French luxury goods group said it has entrusted an investment service provider with a mandate for the acquisition of up to €1.5 billion of its own shares over a period beginning March 1 and ending on or ...
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News briefs
Gap France goes into receivership
Wilsam, the company that manages 20 franchised Gap stores in France, has been placed under controlled administration, or receivership, according to a Grenoble-based commercial court. The decision was made following a request made by the company’s manager Patrick Puy as well as by the prosecutor’s office, said the deputy prosecutor, ...
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ArticleGörtz brings in new investor to exit insolvency procedure
The insolvent German footwear chain Görtz has found a new investor. Currently undergoing a restructuring under a self-administration procedure, the ailing Hamburg-based company said that, after an “intensive process and extensive discussions with many interested parties,” the provisional creditors’ committee has picked a long-term oriented private investor. Görtz did ...
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News briefs
Zalando to introduce a basic fee, hike marketplace commissions
According to information from various media for online retailers, Zalando will soon be introducing a new fee schedule. Previously, the Zalando platform only charged commissions for successful sales. As of July 1, Zalando is implementing a basic fee of €480 per year for its marketplace. The basic fee applies both ...
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ArticlePrimark lifts guidance as consumers start shopping early for summer
Primark’s parent company, Associated British Foods (ABF), has lifted full-year guidance as consumer spending proved to be more resilient in the first half, with Britons buying early for the summer holidays and inflation easing. The group now expects adjusted operating profit in the 24 weeks to March 4 to ...
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News briefs
OrthoLite reaches 500 footwear brand partners
OrthoLite, the U.S.manufacturer and provider of insoles and material solutions for footwear since 1997, is celebrating a major milestone by welcoming its 500th footwear brand partner. OrthoLite insoles are now found in more than 550 million pairs of shoes each year across all categories – athletic, running, comfort, golf, lifestyle ...
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News briefs
Marc O’Polo hires Jan Brinkmann to head the footwear division
The Swedish-German fashion label Marc O’Polo hired the industry veteran Jan Brinkmann as the new director of its footwear division, as the company continues to expand in the sector. Brinkmann will join Marc O’Polo on July 1, 2023 and initially focus on sales and marketing, working alongside the current ...
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ArticleRocky Brands sees 2023 sales down 7-9% after 18% dip in Q4
Rocky Brands said it expects sales to decline by about 7-9 percent in 2023 to $560-570 million from the $615.5 million seen in 2022 as it pointed to continued economic uncertainty after posting an 18.0 percent decline in revenues in the fourth quarter of 2022. “With the outlook for the ...
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ArticleSteve Madden sees about 20% drop in wholesale revenues in H1
Steve Madden expects an about 20 percent drop in wholesale sales, which represent nearly 60 percent of its top line, during the first half of 2023 as clients reduce orders to reduce excessive inventories. In a conference call with financial analysts, the company’s chairman and CEO, Edward Rosenfeld, noted that ...
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ArticleItalian shoemakers’ 2022 revenue growth revised upwards to 14.0%
Italian footwear manufacturers estimated that in 2022 aggregate revenues rose by 14.0 percent year-over-year to €14.5 billion and were 1.2 percent above pre-Covid levels. A previous survey released in January estimated that 2022 revenues had risen by 13.2 percent compared with 2021. According to a survey carried out by Confindustria ...
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ArticleFarfetch Q4 sales dip 5%, profits squeezed but company sees ‘solid’ start to 2023
Farfetch reported a decline in revenues and gross merchandise value in the fourth quarter of 2022, a year marked by “unprecedented macro headwinds”, but said it was on better footing in 2023 after completing a strategic revamp and confirmed its guidance for growth in gross merchandise value (GMV) and an ...
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News briefs
VF issues €1bn in unsecured senior notes
VF Corporation is issuing unsecured senior notes, whose proceeds will be used to finance general corporate purposes, including the repayment of borrowings under its commercial paper program. The U.S. company has priced €500 million of unsecured senior notes due 2026 at 99.704 percent of the principal amount with a coupon ...
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News briefs
Loro Piana opens a new footwear factory
Loro Piana, the Italian fashion brand bought by the French luxury goods group LVMH in 2013, has inaugurated a new footwear factory in Porto San Giorgio, in the central Italian region of the Marche. Production will focus on the brand’s White Sole shoes.
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News briefs
Primadonna Collection aims for revenues of €120m in 2023
The Italian footwear and apparel retailer Primadonna Collection aims to post annual sales of €120 million this year after ending 2022 with a top line of about €110 million, the founder and manager Valerio Tatarella told the website Fashionmagazine.it. Tatarella also said that the brand plans to enter the Vietnamese ...
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News briefs
Micam and sister fairs attract 48,276 visitors
The February edition of Micam, along with the three shows held with the footwear trade fair, attracted 48,276 visitors compared with nearly 35,500 in September 2022 and some 29,500 in March 2022, as the shows continue to recover from the havoc caused by the Covid-19 pandemic, which disrupted travel and ...
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Article
Online footwear sales plummeted in 2022 in Germany
Online sales plummeted in Germany in 2022 as the Ukraine war took its toll on consumer spending, with the footwear sector bearing the brunt of the downturn, a survey from the association of e-commerce and mail order trade, BEVH, showed. E-commerce sales in Europe’s biggest economy dipped last year ...
