Product & Marketing – Page 197
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News briefs
New investor for FootBalance
FootBalance, a Finnish manufacturer of custom insoles, has entered into a partnership with a new investor, London-based IPGL Limited. IPGL has acquired Scope Growth II L.P.’s shares in the company. “FootBalance has during our ownership evolved from a local provider of insoles to become a global category leader in foot ...
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News briefs
Shoe Carnival appoints a new board director
Shoe Carnival has appointed Diane Randolph to its board of directors. With her appointment, the board of the U.S. footwear retailer is composed of seven directors, of which five are independent. From 2014 to 2020, Randolph held the position of chief information officer of U.S. beauty retailer, Ulta Beauty. Prior ...
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News briefs
Kick Game raises £3.5m in new funding round
The British retailer of luxury sneakers Kick Game has obtained £3.5 million (€4.1m-$4.8m) in funds from the investment company VGC Partner, which had already made an initial investment of £2.5 million in May 2020. The funds will be used to boost the company’s online business and expand the store network ...
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Article
Next to sell the Gap brand in the U.K., Ireland
The British apparel retailer Next has reached an agreement under which it will sell the Gap brand in the U.K. and Ireland after the U.S. brand decided to close its own stores in those markets. The two groups have created a joint venture to operate Gap’s e-commerce business across Next’s ...
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News briefs
Spanish government and unions agree on minimum wage hike
The Spanish government and trade unions have reached an agreement on a slight increase in the minimum monthly salary, which will increase by 15 euros a month to a gross 1,125 euros a month over a 12-month period. The increase is retroactive, going into effect as of Sept. 1, 2021. ...
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News briefs
ASF 4.0 shoe factory starts production in France
One year after laying the foundation stone and despite the pandemic, the Advanced Shoe Factory 4.0 (ASF 4.0) in Ardoix, in the heart of the Auvergne-Rhône-Alpes region of France, started up its automated production facility for sports footwear on Sept. 16. ASF 4.0 is a subsidiary of textile specialist Chamatex ...
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News briefs
Adidas sneaker ties in with the newest Bond film
Adidas will be introducing four Ultraboost sneakers for its 007 collection for the debut of the new James Bond movie, No Time to Die, which will have its global premiere in the U.K. on Sept. 30. To promote them, the German sportswear giant is organizing an augmented reality contest featuring ...
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ArticleBrazilian exports return to pre-Covid levels in volume
In the first eight months of 2021, Brazilian footwear exports rose by 33.4 percent year-over-year in volume to 75.2 million pairs and by 23.9 percent in value to $541.34 million, according to data released by the trade association Abicalçados. When compared with the first eight months of 2019, exports fell ...
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News briefs
Some footwear factories closed in Putian due to Covid-19
Some shoe factories have been temporarily closed in China’s footwear cluster of Putian, in the Fujian province, because of an outbreak of Covid-19, according to Footwearbiz.com. According to Business of Fashion, some of Putian’s cases could be traced back to employees of a shoe factory, of which there are believed ...
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News briefs
Wildberries workers hold a go-slow
Some members of the staff of the Russian online retailer Wildberries have announced a go-slow against wage cuts. In a petition which reached nearly 2,500 signatories, the employees announced the start of the protest in several Russian regions. In a statement, the workers said that they work the minimum required ...
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News briefs
Asos aims to be fully carbon neutral by 2030
The British online fashion retailer Asos aims to be carbon neutral in its direct operations by 2025 and achieve “net zero” across its value chain by 2030. The company also plans to shift towards more circular systems, ensuring 100 percent of own-brand products and packaging are made from more sustainable ...
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ArticleCrocs wants to triple sales in five years
Crocs said it is targeting an operating margin of at least 26 percent on annual sales of $5 billion by 2026, with 50 percent of the turnover or more due to be generated through digital channels. This would compare with an adjusted operating margin of 18.9 percent in 2020 on ...
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News briefs
On runs to New York Stock Exchange to go public
A hundred runners, along with the founders of On, David Allemann, Caspar Coppetti and Oliver Bernhard, and co-CEOs Martin Hoffmann and Marc Maurer ran alongside the Hudson River and over to Wall Street on the morning of Sept. 15 to ring the opening bell on the New York Stock Exchange. ...
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News briefs
Courir buys Naked Copenhagen
Courir, the international French-based athletic footwear chain sold by Groupe Go Sport to Equistone Partners Europe at the end of 2018, is taking over Naked Copenhagen, an international online and offline retailer specializing in top-tier releases of sneakers and streetwear for young women. The price of the transaction has not ...
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ArticleInditex posts record results in Q2
Inditex, the Spanish group that owns the brands Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho and Uterqüe, posted record results in the second quarter ended July 31, as sales rose by 7 percent at constant currency rates compared with the second quarter of 2019, which was not affected by the ...
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News briefs
H&M Q3 sales rise 14% in local currencies
In the third quarter ended Aug. 31, Hennes & Mauritz (H&M) posted a 9 percent increase in net sales to a provisional SEK 55.585 billion (€5.470bn-$6.470bn). In local currencies, the rise reached 14 percent, lifted by more full-price sales. Covid-19-related lockdowns and restrictions continued to hamper development, particularly in Asia, ...
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News briefs
On Holding raises IPO price to $20-22
The parent company of On Running has informed the U.S. Securities & Exchange Commission that it has decided to raise the price of its initial public offering from a range of $18 to $20 to a range of $20 to $22. The company has also indicated that the full overallotment ...
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Article
Extended Covid restrictions in Vietnam are hitting companies hard
Footwear brands expected to suffer considerable damage from a decision by Vietnamese authorities to extend their strict Covid-19 restrictions in the Ho Chi Minh City region until the end of the month. They were originally scheduled to be lifted on Sept. 15, but the measures taken so far have prevented ...
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ArticleJD raises FY guidance after record-setting H1 profits
JD Sports Fashion reported a profit before exceptional items and taxes of 439.5 million pounds (€515.1m-$608.8m) for the first half ended July 31, up sharply from £61.9 million in the same period a year ago, as acquisitions, the U.S. government’s stimulus package and pent-up demand allowed it to rebound strongly ...
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News briefs
Astor Mueller’s founder dies at 85
The Swiss footwear company Astor Mueller, which holds the Bugatti and Daniel Hechter licenses for footwear, announced the passing of its founder Hans Müller. “With deep sadness, but at the same time with great gratitude for his work, Astor Mueller AG announces the death of company founder Hans Müller. He ...
