Product & Marketing – Page 147
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ArticleThe global secondhand market has tripled since 2020
The value of the apparel, footwear, and accessories resale market is estimated at between $100 and $120 billion worldwide, nearly three times the size it was in 2020, according to a new study by Boston Consulting Group (BCG) and global resale platform Vestiaire Collective. The report, titled “What an Accelerating ...
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News briefs
Golden Goose acquires Italian Fashion Team
Luxury sneakers specialist Golden Goose announced that it acquired Italian Fashion Team, a high-end sneakers producer and Golden Goose’s main supplier, for an undisclosed amount. The two companies have worked together for seven years. Based in Casarano, near the Apulian city of Lecce, Italian Fashion Team is headed by founder ...
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ArticleSante + Wade plans to expand to physical stores
Sante + Wade, a premium British women’s footwear brand offering large sizes and fits, is planning to distribute its models in physical stores, with a focus on the U.S. and some large European markets. The company created by Shola Asante and Agnès Cushnie started operating in 2019. The brand, which ...
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ArticleMephisto launches its Nature is Future collection worldwide
At the latest edition of Micam, held from Sept. 18 to 20 in Milan for the presentation of spring/summer 2023 collections, Mephisto started distributing worldwide its sustainable women and men’s sneakers brand Nature is Future by Mephisto. The French company launched the brand a year ago with the spring/summer 2022 ...
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ArticleFuture Fashion enters a new financing round
Future Fashion is raising about €1.3 million to finance product development and expand its sales network. The Italian company owns the namesake omnichannel platform offering fashion brands to “virtualize and customize” their collections in 3D using SaaS (Software as a Service) technology and Design Italian Shoes (DIS), which sells customized ...
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ArticleSpartoo H1 GMV falls 1.6% as demand slows
Spartoo saw its gross merchandise volume (GMV) in the first half ended June 30 decrease by 1.6 percent compared to the year earlier to €104.3 million, as consumer demand slowed in the face of accelerating inflation and uncertainty tied to the war in Ukraine. GMV from B2C services was the ...
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ArticleStocks of Brazilian footwear manufacturers outperform in Q3
In the third quarter of 2022, the stock prices of footwear companies and associated sectors monitored by Shoe Intelligence were on average virtually unchanged, falling by less than 3 percent when compared with the previous three months. But, the figure conceals noticeable disparities between the panel’s subsegments. The cohort of ...
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ArticleGruppo Florence buys two shoemakers
Gruppo Florence, an Italian conglomerate of suppliers for the fashion industry, has bought three companies, including two shoemakers, bringing the number of companies acquired in less than two years to 17. It is the group’s first foray into footwear manufacturing. Florence now generates more than €350 million in annual revenues ...
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News briefs
Crocs’ chief operating & transformation officer leaves
Crocs’ executive vice president and chief operating & transformation officer, Elaine Boltz, will leave the company on Oct. 14. Boltz will be entitled to the payments and benefits relating to her separation from the company as set forth in her employment offer letter as well as a special one-time discretionary ...
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ArticleZalando increases its fleet of Magazino robots
Zalando has purchased 29 additional order picking robots from the German start-up Magazino, increasing its fleet to 57 units. The German online fashion retailer, which has invested in Magazino, initially bought two of the robots called Toru in 2018, before increasing the fleet by six units in 2019 and a ...
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Article
VF Corp. maps out growth strategy, trims FY23 outlook
VF Corp., which counts a dozen brands in its portfolio, is targeting a five-year compounded annual revenue growth rate in the mid-to high single digits, earnings per share expansion of high single to low double digits and an operating margin of approximately 15 percent by FY27. The U.S. parent of ...
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ArticleBirkenstock to invest €110m in Pasewalk plant
Birkenstock now expects to invest about €110 million in its new German production site in Pasewalk, scheduled to come on stream in autumn 2023. The investment is a record for the company and significantly above the initial estimate for the project. The German footwear group described the investment in the ...
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ArticleConsumer and business sentiment sinks in Europe
Consumer confidence continues to decline significantly in Europe due to rising inflation, an erosion in purchasing power and concern about the future due to a worsening of the macroeconomic environment and rising geopolitical tension following Russia’s invasion of Ukraine on Feb. 24. In October, German consumer sentiment is expected to ...
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ArticleBoohoo issues profit warning as H1 sales slump, product returns increase
Boohoo has issued a profit and sales warning after a 10 percent fall in first-half revenues driven by the cost-of-living crisis. The fast-fashion online retailer, whose brands include Pretty Little Thing and Nasty Gal, said revenues fell to £882million (€986.7m) in the six months to Aug. 31 and forecast annual ...
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News briefs
Burberry hires a new chief creative officer
Burberry has appointed Daniel Lee as its new chief creative officer. He will join the company on Oct. 3 reporting to chief executive Jonathan Akeroyd. Lee replaces Riccardo Tisci, who is leaving the company at the end of this month after almost five years in the job. Lee was the ...
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ArticleHow reshoring to Spain is being hampered by labor and capacity shortage
Demand to reshore footwear manufacturing from Asia to Southern Europe, and especially to Spain, is growing, but the Iberian country is lacking the capacity needed to significantly boost production, while exports of Spanish made shoes are back to pre-pandemic levels. “We are at full capacity and there is no more ...
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News briefs
Sales of Russian e-tailers surge
Russian online marketplaces are continuing to enjoy a surge in sales. Wildberries, Ozon, AliExpress Russia, SberMegaMarket and Yandex.Market jointly processed 400 million orders in the second quarter of 2022, up by 80 percent year-over-year. In value, turnover hit an all-time quarterly high of 500 billion rubles (€8.2bn), Moscow-based analytical agency ...
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News briefs
Vapesol launches soles made from factory waste of nitril gloves
The Portuguese company Vapesol, which manufactures more than five million pairs of soles yearly (according to its website), has teamed with the nitril glove company Raclac to produce of footwear soles from industrial waste. Raclac claims to be the only manufacturer of nitril examination gloves in Europe. Waste from its ...
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News briefs
NFW Footwear Collective is growing
New Balance and Wolverine Worldwide have joined Natural Fiber Welding’s Footwear Collective, a cooperative platform aiming to reduce the environmental impact of footwear across the value chain. Curect members include Allbirds, Camper, Deckers and Ralph Lauren. Katy O’Brien, senior manager of innovation at New Balance, said: “We have been ...
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ArticlePittards sees ‘strong’ order book after H1 sales rise 7%
Pittards, the British leather and leather goods company, posted revenues in the first half ended June 30 of £10.4 million (€11.7m), up by 7 percent on the year earlier, as its sales order book remained “strong” across market sectors. The gross margin in the six-month period widened to 30 percent ...
