Product & Marketing – Page 148
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ArticleItalian shoemakers start using the VCS self-assessment ESG program
VCS (Verified & Certified Steps), a software package allowing the self-assessment of environmental, social and governance (ESG) performances launched by Assocalzaturifici, the Italian footwear association, is currently being tested by three Italian shoemakers. “We chose three companies of different sizes and with different business models” for the pilot tests, explained ...
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ArticleGerman shoemakers concerned about the future despite H1 rebound
Despite a strong rebound in domestic and foreign sales in the first half of 2022, German shoemakers are concerned about the business environment due to growing inflation and the erosion of the purchasing power of consumers. Among German footwear manufacturers with more than 50 employees, sales rose by 11.6 percent ...
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ArticleSan Marina placed into receivership
The French footwear retailer San Marina was placed under controlled administration, or receivership, on Sept. 22 at its request by a Marseille-based commercial court. San Marina employs 673 people in 163 stores in France. The so-called observation period of the receivership is set to last until March 23, 2023, ...
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News briefs
Micam and sister fairs attract 35,470 visitors
The September edition of Micam, along with the three shows held with the Milan-based footwear trade fair, attracted 35,470 visitors, up by 20 percent from the event held in March 2022. Micam highlighted that there was strong presence of visitors from Spain, France and Germany as well as of buyers ...
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News briefs
U.K. to introduce VAT-free shopping for foreigners
During the presentation of new budgetary measures, Kwasi Kwarteng, the U.K.’s newly appointed finance minister, officially referred to as the chancellor of the exchequer, said that the government has decided to introduce VAT-free shopping for overseas visitors. “We will replace the old paper-based system with a modern, digital one. And ...
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ArticleTod’s’ minority shareholder buyout to start on Sept. 26
DeVa Finance, which is controlled by DI.VI. Finanziaria di Diego Della Valle & C, announced that its offer to buy out Tod’s’ minority shareholders will run from Sept. 26 to Oct. 25. The company is offering €40 per share and is seeking to buy a 25.55 percent stake in the ...
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News briefs
FedEx to hike rates from Jan. 2
FedEx said its FedEx Express, FedEx Ground and FedEx Home Delivery will increase rates by an average of 6.9 percent effective January 2, 2023 as the the U.S. courier service tries to align costs with demand. Meanwhile, FedEx Freight rates will increase by an average of 6.9 percent to 7.9 ...
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News briefs
U.K. consumer confidence at record low - GfK
In September, consumer confidence in the U.K. fell to -49, the worst overall index score since records began in 1974, and down from -44 in August and -13 a year ago, according to the latest survey released by market research firm GfK. The component on personal finances in the coming ...
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News briefs
Turkish lira falls to record low against the dollar
The Turkish lira fell to a record low against the U.S. dollar after the Turkish central bank cut its policy rate, the one-week repo auction rate, to 12 percent from a previous 13 percent, as it pointed to a global economic slowdown and the increased risk of recession. The currency ...
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ArticleSecondhand online marketplaces on the rise
Cross-border marketplaces are developing fast, and the C2C trend is one of the drivers.
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News briefs
Alibaba’s Tmall Luxury Pavilion enhances metaverse experience
Tmall Luxury Pavilion, the Alibaba luxury shopping platform, introduced a so-called Meta Pass and hosted an augmented reality fashion show in Shanghai. As Alibaba reported, Luxury executives tried on AR glasses, held a virtual item (such as a digital luxury bag), and placed it in a gift box. When they ...
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ArticleItaly faces a huge population decline
Italy is facing a huge decline in population as well as significant demographic changes that are likely to prompt further labor shortage and modify consumption patterns. Italy’s population is expected to drop from an estimated 59.2 million on Jan. 1, 2021, to 57.9 million in 2030, 54.2 million in 2050 ...
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News briefs
The Russian fashion market has nearly halved
Between February and August of 2022, the sales of shoes, clothes and accessories in Russia plummeted by 40.5 percent against the same period of the previous year, according to Anush Gasparyan, spokesperson for the Moscow-based think tank Fashion Consulting Group. As many as 23 percent of the Russian customers surveyed ...
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ArticleGörtz and Surf4Shoes file for bankruptcy amid uncertainty, soaring inflation
Görtz and Surf4Shoes are among the latest companies caught in a wave of bankruptcies that appears to be gathering pace in Germany. Heightened consumer uncertainty, sky-rocketing inflation and rising energy prices are seen as the main destabilizing factors, as the war in Ukraine rages and the European Union’s sanctions against ...
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ArticleHotter Shoes lifts sales but notes pressure on consumer spending
Hotter Shoes’ owner, Unbound Group, reported higher half-year sales and margins driven by strong demand, despite the tougher economic outlook. Unbound, formerly known as Electra Private Equity, said revenues rose to £27.6 million (€31.60m) from £25.0 million, driven by its multi-channel sales model. It posted a pre-tax loss of £2.14 ...
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News briefs
More than half of German clothing retailers hit by supply issues
Overall German retailers are “very concerned” about the replenishing of their inventories and the situation could continue into the Christmas season, according to a survey carried out by the ifo Institute. In August, on average 77.5 percent of retailers complained about supply problems, up from 77.3 percent in July. Retailers ...
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ArticleEU expects to strike a trade deal with Indonesia in 2024
The European Union expects to be able to reach a free trade agreement with Indonesia within two years, despite a trade dispute regarding palm oil and nickel, according the European Commission’s Executive Vice President and Commissioner for Trade, Valdis Dombrovskis. Dombrovskis believes it is possible to reach a comprehensive economic ...
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News briefs
World faces a winter of discontent - UN
The secretary general of the United Nations, António Guterres, warned that the world will face a difficult winter due to the effects of the multiple ongoing crises including the war in Ukraine, increasing poverty and inequality, and the impact of global warming. “These crises threaten the very future of humanity ...
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News briefs
Norway wealth fund asks invested firms for net zero by 2050
Norges Bank Investment Management, Norway’s sovereign wealth fund, will ask the over 9,000 companies in its investment portfolio to reach net zero emissions by 2050. ”We set a target of net zero emissions by 2050 at the latest for all companies,” said Carine Smith Ihenacho, chief governance and compliance officer ...
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News briefs
German producer prices at record highs
In August, German producer prices for the domestic market rose by 7.9 percent month-on-month and grew by 45.8 percent year-on-year, according to the statistics office Destatis. The monthly and annual readings are the highest on record. Annual producer price growth reached 37.2 percent in July and 32.7 percent in June. ...
