Product & Marketing – Page 144
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News briefs
Russian e-commerce up by 39%
In the first eight months of 2022, Russia’s e-commerce industry experienced a 39 percent year-over-year rise in sales to 3.08 trillion rubles (€51.6 bn), the Association of Internet Trade Companies (AKIT) reported. In 2022, Russia’s e-commerce revenues are expected to exceed 5 trillion rubles (€83.7 bn), Artem Sokolov, the ...
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News briefs
Ilse Jacobsen passes away
Ilse Rohde Jacobsen died on Oct. 23 at the age of 62. The Danish designer had been fighting cancer since last summer, according to a statement by her company IJH A/S. ”She fell asleep peacefully surrounded by her family,” the statement said. According to the daily B.T., Jacobsen was stricken ...
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ArticleBerkemann takes over Däumling
From Nov. 1, the Berkemann Group is taking over the children’s footwear brand Däumling and its shoe factory in Bruchweiler, in Rhineland-Palatinate. The brand is being bought from the the founding family and all 50 employees at the German site will be retained. “With this step, we are expanding our ...
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News briefs
Baffin launches a new women’s boot
Baffin, a Canadian producer of outdoor performance footwear and apparel, has launched Jasper, a new women’s boot available online on Baffin.com and in select outdoor retailers in North America. The model is an expansion of the Canadian Collection which launched in the fall of 2021. Baffin is committed to manufacturing ...
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News briefs
Allbirds cuts carbon footprint by 12%
Allbirds, the B Corporation certified Californian brand of footwear and apparel, cut by 12 percent its average product carbon footprint between 2020 and 2021, according to its latest sustainability report. “We have a specific, actionable plan to cut our per product carbon footprint in half by 2025 and drive ...
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News briefs
Clarks opens first U.S. store in 3 years
Clarks opened a 2,300 square feet store in the Amerian Dream mall in East Rutherford, New Jersey. It is the first store opened by the British footwear brand in the U.S. in three years. In an interview with Footwear News, Gary Champion, the president of Clarks Americas, said “this store ...
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ArticleMilspeed recycles fishing nets for shoe components
Milspeed, a U.K.-based manufacturer and supplier of footwear components, has revealed that since March 2020, it has been working on a program to reprocess discarded nylon fishing nets and recycle them into plastic shoe parts, such as toe puffs and counter material. The initiative, called Ocean Recovery Project, is carried ...
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News briefs
Global kids’ footwear market to grow 8% a year
In a report called “Global Children Shoes Market 2022-2026” the market research firm Reportlinker.com estimates that the market will grow $5.32 billion over the period, representing a compound annual growth rate (CAGR) of 8 percent. The study identifies the introduction of smart shoes as one of the prime reasons driving ...
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ArticleDeckers sees big potential for Hoka brand
Deckers Brands believes its Hoka brand, already wildly successful, has plenty of upsides ahead as a head-to-toe brand serving running, trail and hiking consumers worldwide like rivals Salomon and VF Corp.’s North Face, and less like running-centric Brooks. “We are re-looking at our category approach,” proclaimed Dave Powers, president ...
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News briefs
Rugged outdoor footwear market rebounds in 2021
After a disappointing 2020, impacted adversely by the global pandemic, the global branded outdoor shoe market returned to growth last year. Worldwide rugged outdoor footwear sales climbed 28 percent higher to $6,756 million in 2021, based on research conducted by the Outdoor Industry Compass in partnership with Sporting Goods Intelligence. ...
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News briefs
BasicNet posts strong 9-month results
BasicNet, the Italian parent of various brands including Kappa, K-Way, Sebago, Superga and Sabelt, generated a 31 percent increase in Ebitda to €44.1 million from €33.6 million for the nine months ended Sep. 30. Ebit increased 37 percent to €33.3 million over the period. A 30 percent improvement in consolidated ...
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Article
VF braces for weaker consumer environment, lowers FY outlook
VF Corp is maintaining its full-year revenue growth guidance of 5-6 percent, citing its balanced portfolio and a building recovery in China as two examples, but has lowered expectations on some key financial metrics due to currency headwinds, higher inventory levels and a more promotional environment. The North Face parent ...
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ArticleBoot Barn lowers its full-year guidance
Boot Barn topped expectations in the second fiscal quarter but slightly reduced its full-year guidance due to market uncertainty. In the three months ended Sept. 24, the California-based shoe retailer posted sales of $351.5 million, up by 12.4 percent compared to the previous year, better than the company’s expectations of ...
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ArticleZegna Q3 sales up 27.5%
The Italian fashion house Ermenegildo Zegna, owner of the Zegna and Thom Browne brands, generated revenues of €357 million in the third quarter of 2022, up by 27.5 percent compared to the year earlier. Revenues for the first nine months of the year reached €1.09 billion, 22.9 percent higher than ...
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News briefs
Consumer confidence sinks in Italy but stabilizes in France and Germany
The latest surveys indicate that consumer confidence has dropped in Italy but is stabilizing in France and Germany. In the eurozone, consumer confidence has been affected by the war in Ukraine, higher inflation and an economic slowdown. In October, consumer confidence in Italy has decreased to 90.1 from 94.8 in ...
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News briefs
Skechers escorts Kanye West out of L.A. corporate building
Slowly but surely, Kanye West should realize that he is no longer welcome due to the antisemitic, racist and hateful remarks he made recently across multiple forums. After the recent contract cancellations with Adidas, Balenciaga, CAA, MRC and Gap, Skechers USA now released a statement in which it reports that ...
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ArticleSkechers cuts Q4 outlook as Q3 net dips
Skechers, impacted by $50 million in incremental freight and logistics costs and elevated operating expenses, reported a 17 percent decline in third-quarter profit to $85.9 million from $103.1 million for the period ended Sept. 30. Operating expenses were nearly 20 percent higher at $754.0 million, and gross margin was down ...
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News briefs
Pimkie in talks to be taken over
Pimkie, a French fast fashion label and chain store for young women, has entered exclusive talks to be bought by a business consortium comprising Lee Cooper France, Kindy and Ibisler Tekstil. The joint bid by the three companies was judged on its financial and operational merits in order to ensure ...
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News briefs
Amazon expands legal efforts to stop the source of fake reviews
Amazon has announced that it has filed its first criminal complaint in Italy and its first lawsuit in Spain as part of its legal efforts to shut down fake review brokers. These two unprecedented lawsuits in Europe target bad actors that attempt to orchestrate fake reviews on Amazon and other ...
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ArticleTod’s' first delisting attempt fails
Diego Della Valle, the chairman and CEO of Tod’s, abandoned plans to buy out minority shareholders in the Italian luxury goods group after a public offer fell short. Nevertheless, he still has the option to delist Tod’s by merging it with a privately-owned company. DeVa Finance, the investment vehicle through ...
