Product & Marketing – Page 161
-
News briefs
ABL Group buys the sneaker brand Tonakai
ABL Group, an Italian producer of leather goods, has bought an 80 percent stake in the sneaker brand Tonakai, as its develops its brand portfolio. Founded in 1947, ABL initially produced white label caused and launched its first own brand, the handbag label Rebelle, a year ago. Rebelle is expected ...
-
News briefs
OR Group undergoes a restructuring
The Russian footwear retailer OR Group, formerly known as Obuv Rossii, announced that its online marketplace Westfalika temporarily stopped accepting orders, as a part of an anti-crisis program embarked on by the company. OR Group has also started restructuring its retail network, closing the least profitable stores. In particular, three ...
-
News briefs
DSM sells engineering materials business
The Dutch group Royal DSM reached an agreement to sell its engineering materials business to Advent International and Lanxess for an enterprise value of €3.85 billion. The business represented €1.5 billion of DSM’s total annual net sales and €334 million of its total adjusted Ebitda for 2021. DSM expects to ...
-
News briefs
Arklyz buys Shoe City
Arklyz Group, the owner of the athletic specialty footwear and lifestyle retailer, The Athlete’s Foot (TAF), has bougth Shoe City, a Baltimore-based sneaker and streetwear lifestyle retail chain together with an online platform www.ycmc.com. Shoe City is an established local business, having started with one location in Baltimore in 1949. ...
-
News briefs
Vivobarefoot partners with Bundlee
Footwear brand Vivobarefoot is partnering exclusively with Bundlee, a U.K.-based rental platform for children’s clothing, which is for the first time expanding its service to shoes. Founded in 2018 by Eve Kekeh, Bundlee offers children’s clothing on a rental subscription basis. The clothes are returned when the child grows up ...
-
News briefs
S&P revises outlook for Wolverine Worldwide
S&P Global has revised its outlook on Wolverine Worldwide to negative but maintains its BB rating on the issuer credit rating. Wolverine ended the first quarter with a debt-to-equity ratio of 5.2x due to last year’s acquisition of Sweaty Betty, a $30 million settlement related to PFAS contamination at a ...
-
News briefs
Record loss for Footway in Q1
After the company’s profit warning in March due to supply chain problems and decreased demand, the Swedish Footway Group has now published its Q1 financial report. The Ebit result landed at a negative71.2 million Swedish kronor (€-6.8m), compared to a loss of SEK 12.8 million in the first quarter of ...
-
News briefs
DuPont Biomaterials sold, reincorporated as Covation Biomaterials
Following the completion of the purchase from DuPont for approximately $240 million, the Chinese Huafon Group has reincorporated former DuPont Biomaterials as a stand-alone company under the name Covation Biomaterials headquartered in the U.S. state of Delaware. Covation aims to create sustainable building blocks for customers to make innovative bio-based ...
-
News briefs
Amazon not seen liable for sale of counterfeit Louboutin shoes
The advocate general of the Court of Justice of the European Union (CJEU), Maciej Szpunar, estimates that Amazon is not liable for the sale of counterfeit Christian Louboutin shoes on its platform. In 2019, Louboutin sought an injunction against the U.S. online retailer in courts in Luxembourg and Belgium on ...
-
ArticleJimmy Choo posts record sales
In the fourth quarter ended ended April 2, Jimmy Choo posted revenues of $156 million, up by 25.8 percent year-over-year on a reported basis and by 29.1 percent at constant currency rates. For the full year, sales reached a record $613 million, up from $418 million a year earlier, as ...
-
News briefs
Prada names Roberto Massardi as chief business development officer
Prada appointed Roberto Massardi as chief business development officer in May. He is responsible for the strategic development of the group through the pursuit of new business opportunities. At the start of his career, Massardi held different positions at Italian tyre manufacturer Pirelli before joining a first time Prada in ...
-
ArticleDr. Martens lifts revenue guidance due to price hikes
Dr. Martens raised its sales guidance on the back of price increases that will take effect with the forthcoming autumn-winter collection, while its expectations regarding volume growth remain unchanged. The revised outlook comes after the iconic British brand sold a record number of boots and shoes in the full year ...
-
News briefsUFG in license agreement with Paul Frank
Unlimited Footwear Group (UFG) reached a license agreement to design, produce, market and distribute Paul Frank branded footwear in 50 countries including the entire European Union, Eastern Europe, the U.K., Switzerland and Scandinavia. The brand will be managed by UFG’s unit Heritage Footwear Company, which plans to launch two ...
-
News briefs
Vietnam’s footwear exports up nearly 13%
Vietnam’s footwear exports rose by 12.6 percent year-over-year in the first four months of 2022, generating more than $7.3 billion dollars in revenues, according to the country’s Ministry of Industry and Trade. In the whole of 2021, Vietnam generated $17.6 billion from the export of footwears, up by 4.9 percent.
-
News briefs
Indian leather exports up by a third
Indian exports of leather and leather products rose by a third to reach $4.4 billion in the 11 months to February 2022, according to the Council for Leather Exports (CLE). India’s fiscal year runs from April to March. Exports of leather footwear rose by 39 percent to $1.8 billion and ...
-
ArticleGenesco expects promotional activity to rise as inventory levels normalize
Genesco’s gross margins have been supported by full-price sales, but the company believes that markdowns are likely to rise as inventories return to more normal levels and consumers become choosier in the face of high inflation and slowing economic growth. Due mainly to increased markdown activity, but also as a ...
-
ArticleMetaverse and blockchain to feature at Expo Riva Schuh’s Innovation Village Retail
The metaverse and blockchain technology will be featuring prominently at Expo Riva Schuh & Gardabags’ Innovation Village Retail scheduled from June 11 to 14 in Riva del Garda, Italy. The “Village” was first introduced at Expo Riva Schuh in the previous edition held from Jan. 15 to 18. “For this ...
-
News briefs
Vans opens a new store in Milan
Vans has opened a three-story, 300-square-meter shop in Milan’s Via Orefici at the Orefici11 retail space, which also hosts brands like The North Face, Timberland and Napapijri. It is Vans’ 36th store in Italy and its fifth in Milan.
-
ArticleHow Covid-19 has increased the signification of the Indian market for RAM
The disruption caused by the Covid-19 pandemic has increased the importance of the domestic market for the Indian footwear manufacturer RAM, and its weight in the company’s business is expected to remain above pre-pandemic levels even when the situation stabilizes. The company is also ready to take on its Chinese ...
-
ArticleAlibaba does not provide guidance due to Covid uncertainty
The Chinese e-commerce group Alibaba did not provide a guidance for the full year ending in March 2023 due the uncertainty generated by the re-emergence of the Covid-19 pandemic in China which has been affecting its domestic business. “Since mid-March 2022, our domestic businesses have been significantly affected by the ...
