Product & Marketing – Page 146
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ArticleAsos in talks to change its debt covenants
Asos is in the final stages of talks with lenders on changing the terms of a £350 million (€406.2m) borrowing facility amid concerns over its cash flow after a credit insurance firm cut cover for suppliers by more than half. The British online fashion retailer said the move will give ...
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U.K. drops VAT-free shopping scheme
The British Finance Minister, Jeremy Hunt, announced that the government no longer plans to introduce a scheme eliminating value-added tax (VAT) for overseas tourists. Hunt was appointed Finance Minister, or Chancellor of the Exchequer, on Oct. 14, replacing Kwasi Kwarteng. Kwarteng had to step down after only 38 days in ...
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Blibli’s parent aims to raise €540m in IPO
Global Digital Niaga, the parent company of the Indonesian e-commerce company Blibli, aims to raise as much as 8.17 trillion rupiahs (€540m) in its initial public offering next month, according to the company’s prospectus. The company plans to sell up to 17.77 billion shares, or 15 percent of its total ...
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Piquadro sales up by 25% in H1
In the first half ended Sept. 30, the Italian leather goods firm Piquadro posted sales of €80.2 million, up by 25 percent from a year earlier. Sales rose by 23.4 percent to €37.2 million in Italy and were up by 30.9 percent to €40.9 million in the rest of Europe. ...
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King Steel, BASF, Otrajet join forces to produce recyclable products
King Steel Machinery, a Taiwanese engineering group producing shoemaking machinery, the German chemical company BASF and the elastomer manufacturer Otrajet have signed a joint development agreement to develop energy-saving processes that allow for manufacturing of 100-percent recyclable products, according to a joint statement. ”Combining expertise in plastic injection machine design, ...
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Ugg launches classic boot made with regeneratively sourced materials
The Californian lifestyle brand Ugg, which is a division of Deckers Brands, has launched a new Classic Mini Regenerate. The boot, available for adults and children, is made with materials from Atkins Ranch, a ranch cared for with regenerative traditions to help restore soil, encourage wildlife diversity, capture carbon in ...
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JD Sports tightens its grip on Deporvillage
JD Sports Fashion announced that Iberian Sports Retail Group (ISRG) has acquired an additional 18 percent holding in the issued shares of Deporvillage from co-founders Xavier Pladellorens and Àngel Corcuera for a cash consideration of €19.8 million. Following the transaction, ISRG will hold a 98-percent stake in Deporvillage, while Pladellorens ...
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ArticleBrazilian exports already exceed the whole of 2021
In the first nine months of 2022, Brazilian footwear exports totaled 107.9 million pairs, up by 25 percent year-on-year. In value, exports generated $990.35 million, up by 60 percent and more than the $900 million achieved for the whole of 2021, according to data released by the Brazilian footwear association, ...
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ArticleHow Dirty Harry helped a Spanish shoemaker conquer the world from his garage
Like Steve Jobs, Basilio García Pérez-Aradros started his business in a garage. For seven years, every day from early in the morning until late at night, he worked on his dream that started in the late sixties: that of producing quality shoes with traditional craftsmanship to sell them all over ...
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Manolo Blahnik revenues up 65% in 2021
Manolo Blahnik posted revenues of €69.9 million in 2021, up by 65 percent year-over-year thanks to a triple-digit growth rate in digital sales. On a comparable basis, the top line rose by 47 percent. Ebitda improved to €8.8 million from €0.5 million. The company returned to a profit, with pretax ...
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Rocky Brands has a CCO
U.S. footwear company Rocky Brands announced that its chief financial officer, Tom Robertson, has been promoted to the newly created position of chief operating officer, responsible for overseeing business operations. Robertson joined Rocky Brands in 2016 as a senior financial analyst and was named CFO six months later. The search ...
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Two Italian makers of footwear machinery join forces
Atom MB and Cerim, two producers of footwear machinery based in Vigevano, about 20 kilometers southwest of Milan, have agreed to join forces. The companies have created Avantium, a 50-50 joint venture that will group the activities of Cerim and of Atom MB’s unit MB. The MB business stems from ...
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Nice Footwear sets up a joint venture with Avirex
Nice Footwear is creating a joint venture with Avirex, a brand known for its leather jackets and chinos pants. Nice Footwear, which specializes in the production of sneakers, has held over the past years the license to produce footwear under the Avirex brand. Under the agreement, Nice Footwear will create ...
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Asics releases trainer with the world’s smallest carbon footprint
With the launch of its Gel-Lyte III CM 1.95 trainer, Asics has unveiled a sneaker with the world’s lowest carbon footprint. As the name suggests, the shoe emits 1.95kg CO2e across its lifecycle. This is significantly less than the lowest CO2e sneakers currently available on the market, based on available ...
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Puma introduces sneaker infused with nitrogen foam
Puma has launched the Extent, a sneaker whose midsole features an innovative Nitro (nitrogen-infused) foam that is said to make it extremely lightweight, springy and soft. The Extent’s layered upper is inspired by Puma’s archive of 2000s long-distance running shoes. The material mixtures differ from one color to another, including ...
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ArticleRussia shopping centers call for a tax break
The Russian council of shopping centers is calling for immediate assistance from regional governors as the average footfall has dropped by 20 percent in the first nine months of 2022 compared with the same period of the previous year. The association is calling for tax breaks until September 2024. In ...
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ArticleFrasers Group buys Australia’s Sneakerboy out of administration
The British retail chain Frasers Group has bought the collapsed Australian luxury footwear and streetwear retailer Sneakerboy for an undisclosed sum, according to media reports. Frasers, which owns the Sports Direct chain and a wide portfolio of brands, will keep Sneakerboy’s staff and run the business but not take on ...
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News briefs
Kodiak introduces new workwear boots using algae-based materials
Kodiak, the 112-year-old Canadian footwear brand, is marching forward while paying tribute to its past with new men’s and women’s workwear boots in its fall 2022 collection. The new collection features Bloom technology, which converts biomaterials like algae into renewable, high-performance replacements for traditional petroleum-based EVA components, continuing Kodiak’s Built ...
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Timberland and Ræburn launch new circular boot
The result of the latest collaboration between Timberland and Ræburn for fall/winter 2022 are the new Earthkeepers by Ræburn Timberloop Utility Boots, “an innovative circular design that allows them to be fully disassembled and recycled at the end of their useful life.” Timberland and Ræburn have been working together since ...
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Walmart buys a robotics automation company
Walmart has agreed to acquire Alert Innovation, a robotics automation company that develops material-handling technology for automating order fulfillment in retail supply chains. Walmart has been working with Alert to customize technology for its market fullfillment centers (MFC) since 2016. ”Further investing in this technology will enable us to leverage ...
