Product & Marketing – Page 200
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ArticleGenesco sees lower Q3 margins on higher freight costs after strong Q2
Genesco forecast that its margins will be squeezed in the third quarter of its 2022 fiscal year amid persistent supply chain challenges and resulting higher freight costs that are seen lasting at least until the end of the year. The warning comes after the American retailer posted better-than-expected profits and ...
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ArticleBirkenstock invests €100m to expand Görlitz plant, build new factory
Birkenstock announced two investment projects worth a combined €100 million and aimed at increasing brand awareness and strengthening its position in the market as a premium manufacturer of German-made shoes. Birkenstock will invest €50 million in its factory in Görlitz, in the eastern Saxony region, and a similar ...
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News briefs
Rizzo introduces a consignment model with its suppliers
Rizzo Group has entered a partnership with the fintech company Future of Retail (FoR) which enables it to propose a consignment model to its main suppliers. The deal also allows the troubled Swedish retailer to be less exposed to liquidity constraints while increasing its assortment. Under the arrangement, preferred suppliers ...
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ArticleSequential files for bankruptcy protection
After many loss-making quarters and the sale of four brands - Heelys, DVS Footwear, Caribbean Joe and Ellen Tracy - earlier this year, the heavily indebted Sequential Brands Group commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware on Aug. 31 to protect it ...
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News briefs
Nike to explore Newlight's carbon-negative material
Nike and California-based Newlight Technologies have entered a partnership to explore the use of AirCarbon, an energy storage material, in a variety of applications within Nike’s supply chain and manufacturing. According to a press release, the collaboration is part of Nike’s plans to accelerate its carbon reduction plans, as materials ...
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News briefs
Keen launches recycled content certification program
Portland-based footwear company Keen is starting a new sustainability initiative based on its growing Harvest line partly made from recycled materials. The new Harvest certification program is part of Keen’s “Detox the Planet” Initiative and is primarily a communication tool that offers transparency on how much industrial waste is recycled ...
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News briefs
Vans launches a virtual environment for customization, play
Vans is launching a game on Roblox, a development environment and platform for multi-player video games. Vans World, as the game is called, combines skateboarding, fashion and networked gaming. Players can use it as a tool with which customize any of four Vans shoe silhouettes or as a full skate ...
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News briefs
French advertising body agrees that Adidas has stretched its sustainability claims
The ARPP, a non-governmental association for the self-regulation of advertising in France, has sided with a consumer against Adidas. The consumer contends that the German brand’s claims made earlier this year with regard to both the recycled content of its Stan Smith Forever shoes and the extent to which the ...
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ArticleU.K. regulator still opposes JD’s takeover of Footasylum
Leaving the door open for comments by Sept. 16 before making a final decision in October, the U.K. Competition and Markets Authority (CMA) restated on Sept. 2 its provisional ban on JD Sports Fashion’s already completed acquisition of the Footasylum, in spite of criticism expressed by the Competition Appeal Tribunal ...
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News briefs
Alibaba pledges 100bn yuan for charitable causes
The Chinese internet company Alibaba pledged to invest RMB 100 billion (€13.1bn-$15.5 bn) in ten key initiatives to “promote common prosperity in China.” The announcement comes after Chinese President Xi Jinping urged the wealthy to tackle inequality but dragged down the company’s share price on concern about its impact on ...
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News briefs
Hoka One One opens its first physical retail stores
Hoka One One is opening its first retail shops, in New York and Los Angeles, after introducing its first lines of running apparel. The two pop-up stores are expected to stay open through December. The 185-square-meter store in NYC is located in the Flatiron district, at 142 Fifth Avenue. The ...
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News briefs
Chinese marketplace Shein expands in Russia
Over the past 12 months, the Chinese fast fashion marketplace Shein has tripled daily visits, surpassing its Russian peer Lamoda, a research conducted by the Russian analytical firm Mediascope showed. Shein has the potential to increase its presence in Russia over the next few months and compete with market leaders, ...
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ArticlePrada requires health pass or Covid testing for Italian staff
Starting Sept. 6, Prada is asking its over 3,000 workers in Italy to submit proof of Covid-19 vaccination or recovery from the virus to access its facilities. As of that date, employees of the luxury group in Milan and the Tuscany region will be asked to show the digital Covid ...
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News briefs
Russia continues to be submerged with counterfeit shoes
Andrey Pavlov, the general director of the Russian shoe company Zenden, claims that the Russian market continues to be submerged with counterfeit footwear and that law enforcement agencies are not acting to stem the flow. In 2020, some 40 to 50 million pairs of counterfeit shoes landed on the Russian ...
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ArticleDesigner Brands gains market share in athleisure, kids’ footwear
In the second quarter ended July 31, Designer Brands posted a 66.9 percent year-on-year increase in net sales to $817.3 million, with comparable sales up by 84.9 percent as it continues to focus on athleisure and kids’ footwear. The U.S. retail business posted an 83.5 percent increase in sales to ...
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News briefs
K-Swiss teams up with YG on “Disco” sneaker
K-Swiss has collaborated with YG on a new co-designed sneaker collection at the intersection of the sneaker culture and hip-hop. The K-Swiss Classic LX, one of the brand’s most enduring silhouettes, has been reimagined in a glittering silver motif. The shoe is called “Disco”. K-Swiss’ 50-year-old silhouette retains the brand’s ...
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ArticleAllbirds files for IPO but remains loss-making
Allbirds, the B Corporation certified Californian brand of footwear and apparel, has filed an application with the U.S. Securities and Exchange Commission for an initial public offering. The document indicates the size of the transaction at $100 million, which is an estimation solely made to define the registration fee of ...
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ArticleShoe Carnival hikes full-year guidance after strong second quarter
The American footwear retailer Shoe Carnival increased its full-year guidance after posting strong second-quarter results. “Sales and profit results are far exceeding our expectations for fiscal 2021. And as such, we are significantly raising our annual guidance,” said Mark Worden during a conference call. Worden is chief customer officer but ...
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ArticleCCC buys a minority stake in delivery company
The Polish shoe and apparel company CCC is buying a minority stake in Xpress Delivery, a company providing logistics and IT solutions for the delivery of parcels. The companies started cooperation nine months ago by introducing the CCC Express service in Poland. The service is availabe in 37 Polish towns, ...
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News briefs
Allbirds opens a store in Atlanta
Allbirds, the B Corporation certified Californian brand of footwear and apparel, has opened a 3,000 square foot retail store and community center at Atlanta’s Ponce City Market. It is the brand’s first store in the Atlanta area and 30th globally, with locations across North America, Asia, and Europe. In 2019, ...
