Product & Marketing – Page 151
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News briefsToray announces renewable nylon 66 breakthrough
Tokyo-based Toray Industries announced that it has developed what it claims is “the world’s first 100% bio-based adipic acid,” a raw material for nylon 66 (polyamide 66). The company achieved this breakthrough using a proprietary synthesis technique that combines its microbial fermentation technology and chemical purification technologies. Nylon 66 has ...
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News briefs
ABG and Warson collaborate on Volcom and Frye work shoes
Authentic Brands Group (ABG) announced an expanded partnership with Warson Brands, a full-service manufacturer of protective and safety technologies and longtime partner of Reebok. Warson has committed to designing, developing and distributing high-quality professional footwear for the Frye and Volcom brands in the U.S. and Canada. The Frye Company will ...
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ArticleDesigner Brands raises its full-year guidance again
Designer Brands released a new update in its full-year guidance after better-than-anticipated second-quarter results. The company raised its full-year diluted earnings per share guidance to a range of $2.05 to $2.15 from a previous forecast of $1.90 to $2.00, which had already been upgraded in April 2022 from $1.75 to ...
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News briefsKeen releases women’s hiking shoe
Source: Keen Footwear For autumn/winter 2022, Keen is introducing the Terradora Flex, a women’s hiking shoe designed for athleisure use, on the trail and in town. It combines the Terradora model’s fit with the Keen brand’s Bellows.Flex air-cushioning system, located at the flex point of the forefoot. ...
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News briefsShoe Zone hikes its full-year guidance again
Shoe Zone improved its full-year guidance again and now expects adjusted profit before tax for the financial year ending Oct. 2 to be ”not less” than £10.5 million (€12.2m).The forecast excludes the profit on the sale of freehold property and foreign exchange revaluations. The British footwear retailer previously forecast adjusted ...
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News briefs
Amazon in green hydrogen supply deal
Amazon has signed an agreement with Plug Power to supply 10,950 tons per year of green hydrogen for its transportation and building operations, starting in 2025. The move is part of Amazon’s efforts to meet its Climate Pledge commitment to be net-zero carbon across its operations by 2040. Amazon co-founded ...
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ArticleStella posts strong H1, warns about forthcoming demand
In the first half of 2022, Stella International increased revenues by 18.9 percent to US$827.2 million from $695.5 million a year earlier, driven by higher orders from its manufacturing business. However, the growth rate indicated a slowdown in the second quarter compared with the first quarter, when the top line ...
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ArticleShoe Carnival Q2 hit by lack of athletic inventory
Shoe Carnival’s net sales in the second quarter ended on July 30 fell by 6.0 percent year-over-year to $312.3 million. Nevertheless, it was the group’s second highest second-quarter sales ever and the top line was up by 16.4 percent compared with the second quarter of 2019, prior to the outbreak ...
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ArticleOR Group puts its Siberian shoe factory up for sale
The Russian shoe retailer OR Group, formerly known as Obuv Rossii, has started searching a buyer for its Berdsk-based shoe factory S-TEP, the Novosibirsk regional government said in a statement. S-TEP suspended operations on Aug. 1 due to financial difficulties. The factory was launched in the early 2000s and currently ...
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News briefsGlobal luxury footwear market seen at nearly $26bn this year
The global luxury footwear market is expected to grow by 5.8 percent from $24.37 billion in 2021 to $25.78 billion in 2022, according to the Luxury Footwear Global Market Report 2022 available on ResearchAndMarkets.com. North America was the largest market for luxury footwear in 2021 followed by Western Europe. The ...
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News briefs
Skechers picks Myleene Klass as brand ambassador
Skeckers has signed on the musician, presenter and entrepreneur Myleene Klass as ambassador for the brand’s footwear and apparel offering across the U.K. and Ireland.
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News briefsOnly two foreign brands entered Russian market in H1
In the first half of 2022, only two foreign brands, the Chinese sporting goods supplier Li-Ning and the perfume company Vilhelm Parfumerie, entered the Russian fashion market, which is the lowest figure since 2014, according to a research conducted by Knight Frank Russia. On the other hand, nearly 180 brands ...
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News briefsZegna improves FY guidance
Ermenegildo Zegna posted a net profit of €21.02 million in the first half of 2022, down from €32.23 million a year earlier, while sales rose by 21 percent to €729 million. During the period, adjusted Ebit grew to €82.69 million from €66.81 million and the margin widened to 11.3 percent ...
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News briefs
Farfetch Q2 earnings decline but sales rise
Farfetch, the British internet platform for luxury goods, realized an 18.7 percent decline in attributable profit to $70.5 million in the second quarter ended June 30 from $86.6 million a year earlier. Ebit was down by 29 percent to $60.4 million from $84.7 million as the operating loss widened by ...
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ArticleRichemont to sell majority stake in YNAP to Farfetch and Emirati businessman
Richemont has signed a deal to initially sell a 47.5 percent stake in its online fashion retailing unit Yoox Net-a-Porter (YNAP) to Farfetch and a 3.2 percent stake to Symphony Global, one of the investment vehicles of the Emirati businessman Mohamed Alabbar. The move will make YNAP a neutral distribution ...
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ArticleCaleres raises sales outlook after record Q2
Caleres maintained its guidance for earnings in the full year and raised and tightened its outlook for sales after a record second quarter for sales and earnings, projecting that it would maintain its momentum despite high inflation and uncertainties about consumer spending. Sales in the three months ended July 30 ...
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News briefs
Tapestry’s CFO takes on the extra role of COO
Tapestry, the New York-based fashion house which owns Coach, Kate Spade and Stuart Weitzman, announced that its chief operations officer (COO), Tom Glaser, 61, has decided to retire. He will remain with the company until Oct. 1. Scott Roe, who has been chief financial officer since June 2021, has taken ...
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News briefs
Clarks US picks TPP Retail for labelling
Clarks US, the American unit of the British footwear group Clarks, has chosen TPP Retail’s Label IQ application to provide a comprehensive labelling solution for its stores. The TPP Retail’s solution was already rolled out in the group’s stores in the U.K., Ireland and Europe. “The TPP solution was a ...
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News briefs
Macy’s cuts FY guidance on deteriorating consumer spending
In the second quarter ended July 30, the net sales of the American department store chain Macy’s slipped to $5.600 billion dollars from $5.647 billion a year earlier as comparable sales were down by 1.5 percent for owned stores and down by 1.6 percent for owned and licensed stores. Digital ...
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News briefsUFG strikes a licensing deal with Lyle & Scott
Unlimited Footwear Group (UFG) has entered a licensing agreement with the British brand Lyle & Scott, under which the Dutch footwear group will design, produce and distribute all upcoming branded Lyle & Scott footwear collections throughout the entire European Union, the U.K., Switzerland, Scandinavia and the U.S. The Lyle & ...
