Product & Marketing – Page 152
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News briefs
Adidas' CEO to step down in 2023
Adidas said that its CEO, Kasper Rorsted, and the supervisory board have mutually agreed upon that Rorsted will hand over the CEO position during the course of 2023. The search for a succession has started, the German sportswear group added. Rorsted will remain CEO until a successor has been ...
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News briefs
Diego Della Valle files document to delist Tod’s
Tod’s said that its main shareholder, Diego Della Valle, has filed documents with the Italian market regulator Consob for a public offer to delist the Italian fashion house from the Milan stock exchange. As announced earlier in August, DeVa Finance, which is controlled by DI.VI. Finanziaria di Diego Della Valle ...
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News briefsMexico footwear industry faces slow recovery
Mexico’s footwear industry may not return to pre-Covid-19 production levels before 2024, according to Ignacio Irurita, vice president of the local trade association Canaical. The country produced 190.5 million pairs of shoes in 2021, up about 20 percent from 2020 but about 60 million pairs less than in 2019. Irurita ...
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ArticleGrendene sees sales jump as Brazilian market recovers
Grendene saw its revenues in the second quarter of 2022 jump by 46.5 percent to 641.4 million reais (€123.5m), as its domestic sales surged by 49.4 percent to R$498.6 million (€96.0m) after an 8.9 percent drop in the previous quarter and export revenues improved by 37.4 percent to R$142.8 million ...
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ArticleArezzo continues to post record sales
After a record-breaking first quarter, Arezzo & Co posted its highest sales for a second quarter, with gross revenues reaching 1,165 million Brazilian reais (€224.5m), up by 65.1 percent from the previous year and by 138.0 percent compared with the second quarter of 2019. The Brazilian company achieved 24.8 percent ...
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ArticleBrazilian footwear exports continue to be strong
In July, Brazilian footwear exports rose by 35.3 percent in volume to 12 million pairs and by 50.8 percent in value to $111.8 million, according to data released by the Brazilian footwear association, Abicalçados. In the first seven months of 2022, footwear exports rose by 31.8 percent in volume to ...
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News briefs
U.S. footwear imports rise sharply in H1
Trade data released by the U.S. Census Bureau and the U.S. Bureau of Economic Analysis showed that in first half of 2022, seasonally-adjusted U.S. footwear imports rose to $13,576 million from $9,451 million a year earlier. In the sole month of June, imports reached $2,449 million against $2,580 million in ...
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ArticleStuart Weitzman is profitable again despite a weak Q4
Stuart Weitzman, the footwear brand of the U.S. fashion group Tapestry, posted higher sales and returned to an operating profit in the full year ended on July 2 despite a weak fourth quarter. Revenues for the full year increased by 12 percent to $317.7 million, or by 11 percent on ...
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News briefs
Allbirds appoints a Nike veteran to its board
Allbirds appointed Ann Freeman to its board of directors, effective Aug. 16. Freeman is an industry veteran who spent more than 26 years at Nike, where she held multiple leadership positions across all major global markets. Most recently, she was VP and GM of North America, Nike’s largest market, where ...
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News briefs
Veja launches a shoe repair service in Berlin
On Sept. 1, a sneaker repair shop will come on stream in the newly opened Veja store in Berlin-Mitte. The repair service will be available to Veja sneakers and other brands. Veja’s store is located at Alte Schönhauser Str. 42, and is open Monday through Saturday from 10 am. to ...
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News briefs
TJX’s sales decline in Q2 and are expected to be weak in H2
TJX rerported that in the second quarter ended July 30 net sales fell by 2 percent year-on-year to $11.8 billion as U.S. comparable store sales decreased by 5 percent. Net income for the second quarter was $809 million, and diluted earnings per share (EPS) were $0.69 versus $0.64 a year ...
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ArticleHow a Serbian shoemaker is benefiting from Russia’s need for new suppliers
The huge exodus of Western brands out of Russia following the country’s invasion of Ukraine in Feb. 24, has created a void benefiting to companies from countries non abiding to Western sanctions. Thanks to tight historical and cultural ties, Serbia continues to trade with Russia, even though the country has ...
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News briefsAsos’ COO and CFO Mat Dunn steps down
Asos’s chief operating officer (COO) and chief financial officer (CFO) Mat Dunn and the board of the British fashion online retailer have agreed a phased plan under which the manager will step down from his roles as the company restructures its executive team. The announcement comes two months after the ...
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News briefsVulcabras’ sales, profits soar in Q2
Vulcabras’ net income rose by 207 percent to 95.0 million Brazilian reais (€18.1m) from R$30.9 million for the period ended June 30. Operating earnings (Ebit) increased 73 percent to R$236.2 million (€45.1m). Ebitda was 30 percent higher at R$133.4 million (€25.5m) as the year-on-year gross margin percentage improved to 36.0 ...
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ArticleAlpargatas sees Havaianas’ revenues fall double-digit rates in U.S., China
Alpargatas suffered double-digit rate declines in the sales of its rubber sandal brand in both the U.S. and China during the second quarter but realized an 11.8 percent increase in price per pair during the period. Havaianas’ sales declined 46.3 percent in China to 8.7 million Brazilian reais (€1.7m) due ...
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News briefsThredUP loses $28 million in Q2, to axe 15% of headcount
ThredUP, a Californian company operating in the apparel resale market that also provides a platform for third-party brands, announced its financial results for the second quarter ended June 30. Revenues increased by 27 percent to $76.4 million, while active buyers increased by 29 percent to 1.7 million. The gross margin ...
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ArticleABG reaches deal to take over Ted Baker
The American brand management company Authentic Brands Group (ABG) and Ted Baker have reached an agreement on the terms of a recommended final cash offer by ABG-Robin BidCo, a newly incorporated entity wholly-owned by ABG, to acquire the entire share capital of the British fashion group for 110 pence ...
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Article
Yue Yuen H1 profits dragged down by Pou Sheng
Yue Yuen reported a 2.8 percent increase in first-half net income of $175.0 million versus $170.3 million for the six months ended June 30. Six-month revenues fell by 2.0 percent to $4,709,792,000 from $4,807,087,000, however, manufacturing segment sales were up by 14.4 percent to $3.19 billion. Ebit declined 17.7 percent ...
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ArticleWolverine lowers FY forecast
Wolverine Worldwide, concerned about inventory escalation in various U.S. retail channels and the likelihood of higher wholesale order cancellations in the market for the remainder of the year, has lowered its FY22 outlook downward. Lingering supply chain delays and currency exchange rates also contributed to the revision. The adjustment was ...
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ArticleCoats buys Renoflex and becomes a footwear component giant
Hot on the heels of the acquisition of Texon, a U.S. provider of footwear solutions, Coats announced the takeover of Rhenoflex, a German manufacturer of structural material solutions for the footwear industry. The back-to-back acquistions have turned the British industrial thread manufacturer into a significant supplier of components for the ...
