Product & Marketing – Page 183
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News briefs
Skechers takes over its distribution in the Philippines
Skechers has taken charge of its distribution in the Philippines through a subsidiary, Skechers USA Philippines. The current distributor, Trendworks International, will continue to sell Skechers products until the end of this year. According to David Weinberg, chief operating officer of Skechers USA, a “dedicated team focused on growth and ...
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ArticleLi & Fung teams up with Maersk
Li & Fung, the leading Hong Kong-based sourcing company, and Maersk, the world’s largest container shipping company, have agreed to form a strategic partnership to offer a more comprehensive range of end-to-end global supply chain services by utilizing their respective resources. As part of the deal, Li & Fung has ...
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ArticleCrocs buys Heydude for $2.5bn
Crocs has entered into a definitive agreement to acquire Heydude, a privately-owned, high-growth casual footwear brand, for $2.5 billion. The U.S. footwear company, mostly known for its clogs, estimates that the acquisition will turn it into the second largest group of branded casual footwear, with forecast revenues approaching $4 billion ...
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News briefs
Zegna starts trading on NYSE
On Dec. 20, Ermenegildo Zegna debuted on the New York Stock Exchange through a merger with Investindustrial Acquisition Corp (IIAC), a special purpose acquisition company (SPAC) sponsored by subsidiaries of Investindustrial VII, which is part of the private equity Investindustrial founded by the Italian businessman Andrea Bonomi. Shares in Zegna ...
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News briefs
LVMH launches €300m share buyback
LVMH has granted an irrevocable mandate to an investment services provider for the acquisition of a maximum of €300 million of its shares over a period starting on Dec. 21 and which could last until Feb. 15. The price of the shares bought under this mandate must not exceed €950 ...
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News briefs
Camper sees FY sales up 22%
The Spanish footwear company Camper expects sales to rise by 22 percent this year to €146 million after falling by 28 percent to €128 million in 2020 due to the outbreak of the Covid-19 pandemic. The surge in sales was underpinned by e-commerce, with online sales representing half of this ...
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ArticleTexon launches a more sustainable version of the Reform heel-counter
Texon has launched a new version of its Reform heel-counter which it claims contains up to 66 percent of sustainably sourced content while “offering the same physical traits as its predecessor.” The new Texon Reform 2.0 contains more recycled content from post-consumer waste, such as ocean-bound plastic bottles, according to ...
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News briefs
Shoe Carnival launches same-day delivery with DoorDash
Shoe Carnival has launched a same-day delivery service in partnership with DoorDash. It is available to all continental U.S. customers who reside within 12 miles of a Shoe Carnival location through the footwear retailer’s website. The standard same-day delivery fee is $10, with a discounted rate of $5 for Shoe ...
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News briefs
Metro Brands IPO 3.64 times subscribed
The initial public offering (IPO) of the Indian footwear retailer Metro Brands, which ran from Dec. 10 to 14, was subscribed 3.64 times. The portion reserved to qualified investors was subscribed 8.49 times and the remainder of the IPO 3.02 times.
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News briefs
CPC sells JackRabbit to Fleet Feet
CriticalPoint Capital (CPC), a Californian private investment firm, has completed the sale of JackRabbit, a running specialty retailer in the U.S., to Fleet Feet, an American franchisor of locally owned and operated running stores. CPC entered the footwear industry in early 2017 with the acquisition of JackRabbit. In October 2020, ...
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News briefs
Shoe Carnival pledges $100,000 to tornado victims
Shoe Carnival pledged to donate $100,000 to the American Red Cross. The donation will benefit relief efforts for those affected by the tornadoes that devastated portions of the South and Midwest of the U.S. from late Dec. 10 to early Dec. 11. Shoe Carnival stores in Arkansas, Illinois, Indiana, Kentucky, ...
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News briefs
Brian Atwood launches a new collection
Brian Atwood is launching a new footwear collection with his brother Zak Rodriguez. The new collection will be called Il Fratellino (the little brother in Italian) and is scheduled to be launched in spring 2022. It will target young customers and will be inclusive and sustainable, according to the designers. ...
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News briefs
Genesco to hold Etonic license in U.S., Canada
Genesco has signed a three-year licensing agreement with the running brand Etonic making it the exclusive footwear licensee in the U.S. and Canada. The deal includes two three-year renewal options, which would extend the partnership through to Jan. 31, 2030. Genesco will design and manufacture Etonic brand lifestyle footwear for ...
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ArticleU.K. clothing sales above pre-Covid levels
In November, for the first time, sales of clothing stores in the U.K. surpassed their pre-Covid levels, according to the Office for National Statistics (ONS). Clothing stores reported an increase of 2.9 percent month-over-month in sales volumes, which were 3.2 percent above levels in February 2020, the last month not ...
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News briefs
Skechers extends and expands its credit facility
Skechers has expanded its senior unsecured credit facility from $500 million to $750 million, extending its maturity date from November 2024 to December 2025. It will retain a $250 million accordion feature that allows the company up to $1 billion worth of liquidity. The syndicate of lenders features Bank of ...
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ArticleBoohoo warns returns, weak U.S. sales are hitting profits
The British fast-fashion retailer Boohoo issued a profit warning on its full-year profits because of higher returns in the U.K. and a weaker-than-expected performance in the U.S. The company now expects a net sales growth of 12-14 percent, down from a previous growth guidance of 20-25 percent, for the year ...
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Article
Inditex posts record Q3 results
Inditex, the Spanish group that owns the brands Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho and Uterqüe, posted revenues of €19.33 billion in the first nine months to Oct. 31, up by 37 percent from a year earlier, and a gross margin of 59 percent after posting record-breaking third-quarter results. ...
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News briefs
H&M returns to pre-Covid levels
In the fourth quarter ended Nov. 30, the Swedish fashion retailer H&M posted fourth quarter-revenues of SEK 56.813 billion (€5.53bn-$6.22bn), up by 8 percent from a year ago, while in the full year the top line was up by 6 percent to SEK 198.967 billion (€19.38bn-$21.79bn). In local currencies, fourth-quarter ...
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News briefs
Francesco Russo to create a capsule with Charles de Vilmorin
The Italian shoemaker Francesco Russo, which is a supplier of the Italian fashion house Salvatore Ferragamo, has teamed up with the French designer Charles de Vilmorin to create a capsule of five shoe styles. The collection, retailing from €595 to €1,500, will be available on Francesco Russo’s website and at ...
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News briefs
Michele Norsa to leave Ferragamo at year end
Salvatore Ferragamo’s executive vice chairman Michele Norsa will leave on Dec. 31, 2021, ahead of the arrival of the company’s new chief executive, Marco Gobbetti, who starts on Jan. 1, 2022. Norsa was the company’s CEO from 2006 to 2016. He rejoined the company in May 2020 to help ...
