Product & Marketing – Page 157
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News briefsFarfetch posted a strong increase in sales of sustainable products in 2021
Farfetch experienced 92 percent growth year-over-year in gross merchandise value (GMV) for “conscious products” in 2021, with 7.4 percent of GMV being “conscious,” according to the 2021 ESG Report of the British online fashion retailer. It noted that there was an 84 percent increase of conscious products available on its ...
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News briefs
Red Wing launches online purchase of PPE
Red Wing Shoe Company has said that its unit Red Wing for Business has launched a service to order personal protective equipment (PPE) online. Clients can now purchase PPE at over 1,200 Red Wing retailers, over 170 mobile stores and online, according to the company. Established in 1905 in Red ...
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Tallinna Kaubamaja Grupp completes the restructuring of its footwear business
The Estonian group Tallinna Kaubamaja Grupp said that it is completing the restructuring of its footwear business. After closing the ABC King and SHU physical retail networks during 2022, the group’s wholly owned subsidiary TKM King will merge its remaining footwear wholesale business with Selver, which is also fully controlled ...
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Argentina sees 2022 footwear output around 125 million pairs
On the basis of orders already received, Argentina expects 2022 footwear production to return to 2015 levels of 125 million pairs, according to the Minister of Productive Development, Daniel Scioli. Last year, Argentine footwear production totalled 107 million pairs.
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News briefs
Lululemon enters Spanish market
Lululemon Athletica Inc. has announced its expansion into the Spanish market. Spain is the brand’s first new market in Europe since 2019. A dedicated Spanish-language e-commerce platform will go live at the end of July. In addition, two new brand stores will open in September on Calle Serrano in the ...
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News briefs
Veja opens first Berlin store
The French sneaker brand Veja has opened its first store in the German capital. The 100 square meter shop is located in the central and historic district of Berlin Mitte. In addition to the men, women, and kids’ collections, an in-store cobbler will offer to repair and clean footwear produced ...
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Decathlon and Intersport install recycling bins
Decathlon and Intersport are setting up bins in their stores in which customers can deposit used sporting goods, textiles excluded, for recycling or other secondary use, according to the French financial paper Les Echos. Both retailers have joined the network of a non-profit organization called Ecologic, and their full system ...
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News briefs
Calzados Bestard H1 sales up 2.5%
Calzados Bestard generated revenues of €3 million in the first half of 2022, for a year-on-year gain of 2.5 percent. With its €7 million in sales, however, last year was exceptional – the best ever for the Spanish producer of mountaineering, hiking and trekking boots. Sales this year have improved ...
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News briefs
JD Sports names a new chairman
JD Sports Fashion has named Andrew Higginson as chairman of the British sports, outdoor brands and fashion retailer, effective on July 11. Higginson has over 28 years of continuous non-executive director experience on the boards of public limited companies, including senior leadership roles over nearly 15 years at the U.K. ...
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News briefs
GM Leather plans to be listed in Milan
GM Leather, an Italian leather manufacturer, has presented a request to list its shares and warrants on the Euronext Growth Milan segment of the Milan stock exchange. Controlled by the Marcigaglia family, the company makes leather products for furniture, leather goods and fashion and automotive sectors. In 2021, GM Leather ...
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ArticleCoats takes over Texon as it expands into footwear
The British industrial thread manufacturer Coats is significantly increasing its presence in the footwear industry with the acquistion of Texon, a U.S. footwear solutions provider. Coats is buying Texon at an enterprise value of $237 million and a total net cash consideration of $211 million. The acquisition is based on ...
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News briefs
TikTok drops e-commerce plans in Europe, U.S. - FT
TikTok has abandoned plans to expand its live e-commerce initiative in Europe and the U.S., according to the Financial Times. The Chinese-owned company’s initiative called “TikTok Shop” was launched in the U.K. last year, its first market outside Asia. TikTok had planned to launch the feature in Germany, France, Italy ...
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ArticleHotter Shoes parent unveils partner brands for fashion, lifestyle platform
Hotter Shoes parent company Unbound Group has unveiled the names of brands that will feature on its new fashion and lifestyle platform for its core customer demographic aged 55 years old or more. The site will start on July 28. The group is initially launching the offering in the fashion ...
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ArticleBrazil footwear exports continue to rise strongly
In May, Brazilian footwear exports rose by 19.8 percent in volume to 10.5 million pairs and by 59.5 percent in value to $104 million, according to data released by the Brazilian footwear association, Abicalçados. In the first five months of 2022, footwear exports rose by 30.2 percent in volume to ...
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News briefs
EU, New Zealand conclude talks for trade agreement
After four years of talks, the EU and New Zealand concluded negotiations for a trade agreement. The deal includes sustainability commitments, including respect of the Paris Climate Agreement and core labour rights, which are enforceable through trade sanctions. The agreement is the first one to integrate the EU’s new approach ...
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News briefs
Inov-8 appoints a new CEO
The British sports brand Inov-8 has appointed Mike Snell as its new CEO. Snell is commercial director for the supermarket chain Asda and will join Inov-8 in October. Inov-8 is currently managed by its founder Wayne Edy, who bought back the company in 2020 after selling it to Descente in ...
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ArticleKohl’s terminates talks to be bought by Franchise Group
The U.S. department store retail chain Kohl’s has put an end to talks to be taken over by the Franchise Group (FRG) at $60 a share. The offer valued Kohl’s at about $8 billion. Kohl’s said that its board “unanimously determined to conclude its strategic review process. The current financing ...
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News briefs
Global luxury market to grow 6% annually to 2026
After returning to pre-Covid levels in 2021, the global luxury industry is forecast to rise by 6 percent annually, on average, to reach €494 billion in 2026 against an estimated €388 billion this year, according to a survey by the Boston Consulting Group and the French luxury goods association, Comité ...
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News briefs
StockX to lay off 8% of workforce
StockX plans to lay off 8 percent of its workforce. The Detroit-based company employs more than 1,500 people. The sneaker marketplace cited “macroeconomic challenges currently impacting our global economy continue to affect consumer behavior” as the reason, as well as the need to “adapt and pivot to deliver the highest ...
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News briefs
Wolverine sells Champion footwear license to HanesBrands
Wolverine Worldwide has announced that its wholly-owned subsidiary Keds, LLC has sold the Champion trademarks for footwear in the U.S. and Canada to HanesBrands Inc for $90 million in cash. As part of the agreement, Wolverine retains a perpetual license to continue using the Champion trademark on certain footwear styles, ...
