Product & Marketing – Page 185
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News briefs
Metro Brands IPO to run Dec 10-14
The Italian footwear retailer Metro Brands is scheduled to hold an initial public offering open to subscription from Dec. 10 to 14. The transaction will comprise 2.5 billion rupees (€29.4m-$33.2m) worth of new shares and 21.9 million rupees (€2.6m-$2.9m) of existing equity sold by shareholders. The company will use the ...
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ArticleShoe Carnival buys Shoe Station
Shoe Carnival is buying substantially all of the assets of family-owned Shoe Station, a footwear retailer which operates stores in five Southeastern U.S. states. The assets are being acquired for $67 million and funded through cash on hand. Mark Worden, Shoe Carnival’s president and CEO said that the deal accelerates ...
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ArticleGenesco sees supply chain problems lasting most of next year
Genesco’s operating margins have been hit by higher freight costs and it believes that supply chain disruptions will probably continue for most of next year. The strain on deliveries has helped reduce promotional activity but has also led to a depletion in inventories. During a conference call on the company’s ...
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News briefs
Skechers launches Our Planet Matters collection
Skechers announced the release of a new collection of durable men’s, women’s and children’s sneakers using recycled materials and washable technologies, called Our Planet Matters. The recycled materials will be listed on hangtags and the packaging. It also announced a multi-year partnership with The Nature Conservancy, starting with a minimum ...
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News briefs
eBay buys the sneaker-authentication business of Sneaker Con Digital
eBay bought the sneaker-authentication business of Sneaker Con Digital, which operates in the U.S., the U.K., Canada, Australia and Germany. Terms of the deal, which was closed on Nov. 24, were not disclosed. The companies have been collaborating since October 2020, with Sneaker Con providing a panel of experts ...
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ArticleSnipes buys the U.S. chain Jimmy Jazz
Snipes, the sneaker retail chain owned by the Deichmann Group, has agreed to acquire Jimmy Jazz, an American chain of sneaker stores with a hip-hop vibe and headquarters in Secaucus, New Jersey. The deal was signed on Dec. 1 and should close before the year is out. Terms remain undisclosed. ...
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News briefs
Ecco picks Stratasys 3D printers for molds, shoe lasts
The Danish shoemaker Ecco has opted for Stratasys’s Origin One 3D printing technology to accelerate product development in its facilities in Portugal and Denmark. The printers are employed to produce molds and shoe lasts using a photopolymer from Henkel Loctite. “In our search to find the right partner, we tested ...
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News briefs
L.K. Bennett joins forces with Mode for new payment system
L.K. Bennett has entered a partnership with the fintech group Mode to offer customers of the U.K.-based fashion retailer a simpler way of paying for purchases. Mode’s app enables an instant and cardless payment through a QR code or a click of a button, with real-time authorization through biometric security ...
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ArticleAllbirds' Q3 sales rise 33% but loss nearly doubles
Reporting its first quarterly results as a public company, Allbirds said its revenues grew by 33 percent to $62.7 million in the three months ended Sept. 30, as compared to the same period a year ago, driven by a 42 percent increase in the U.S. to $47.7 million. Sales in ...
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ArticleKhadim India sees business returning to pre-Covid levels
Khadim India, a Kolkata-based manufacturer and retailer of footwear products and accessories, primarily in eastern and southern parts of India, expects its business to return to pre-Covid levels in the second half of its fiscal year ending on March 31, 2022. The top line recovery is underpinned by increased ...
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ArticleC-Suite interview: U-Power bides its times for an IPO as it continues to grow
In July 2021, U-Power pulled the plug on an initial public offering (IPO) because the Italian group, which specializes in safety footwear and workwear, was unsatisfied with market evaluations. The company is waiting for better market conditions to go public while it continues to expand in Europe. Fin Reporter, the ...
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ArticleClarks 2-month strike over
The troubled British footwear company Clarks has reached an agreement with about 100 workers to end a two-month strike at its distribution centre in Somerset. The deal with the Community trade union, which follows mediation with the U.K.’s Advisory, Conciliation and Arbitration Service (Acas), is understood to protect hourly pay ...
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News briefs
Global vegan footwear market forecast to reach $300bn in 2030
The vegan footwear market is expected to reach $300.19 billion by 2030 from $156.89 billion in 2020, representing a compound annual growth rate (CAGR) of 6.8 percent, according to a report published by Allied Market Research. North America contributed the highest share in terms of revenue in 2020, holding more ...
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News briefs
India hikes consumer tax on shoes
India’s Central Board of Indirect Taxes and Customs notified that the goods and services tax (GST) on products such as footwear, apparel and textile will increase to 12 percent from 5 percent from Jan. 1.
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News briefs
Inditex reshuffles its top management
Inditex, the Spanish group that owns the brands Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho and Uterqüe, has appointed Oscar Garcia Maceiras as chief executive, effective immediately. Maceiras joined Inditex of March this year, and has served as general counsel and secretary of the board. He is replacing Carlos Crespo, ...
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News briefs
Skechers renews eyewear license with Marcolin
Skechers renewed its license agreement with the Italian eyewear manufacturer Marcolin for the design, production and worldwide distribution of sunglasses, optical frames and kids’ eyewear under the name of the American footwear brand. The partnership was extended to Dec. 31, 2024. Corrective eyewear sold under the Skechers brand is available ...
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News briefs
s.Oliver opens a flagship store in Moscow
s.Oliver, the footwear brand part of the portfolio of the German footwear firm Wortmann, has opened a flagship store in Moscow. It is the brand’s 11th store in Russia and the first in the country’s capital. “We had to wait a long time before we were able to open a ...
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ArticleCompanies must be sincere in promoting sustainability or risk a backlash
With consumers demanding more sustainable and equitable products and being increasingly aware of corporate greenwashing, footwear brands must be authentic in marketing sustainable goods. Otherwise their communication strategy may backfire, trend forecasting company WGSN warned during a couple of webinars organized by the Italian trade fair Expo Riva Schuh. Greenwashing ...
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ArticleCCC Group plans to triple sales by 2025
The Polish footwear and apparel retailer CCC Group plans to triple revenues to over 20 billion zloty (€4.2bn-$4.8bn) in 2025 largely thanks to the development of its online business and of its newly launched off-price banner HalfPrice, as well as an increased presence in apparel and accessories. The share of ...
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News briefs
Belarus may face a shoe shortage
Nike, Lamoda, Sportmaster and Detsky Mir have notified the Belarusian government about a possible suspension of shoe exports to the country due to problems with a local labelling system that was introduced on Nov. 1. The companies complained, in particular, about issues arising from the Belarusian monitoring system, which generates ...
