Product & Marketing – Page 204
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Zalando posts strong double-digit sales growth in Q2
Zalando posted group revenues of €2,733.1 million in the second quarter, up by 34 percent from the second quarter of 2020. The gross merchandise value (GMV) jumped by 40 percent to €3.8 billion. GMV is the value of all merchandise sold to customers after cancellations and returns and including VAT. ...
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News briefs
Ukraine introduces sanctions against Wildberries
The Ukrainian government has imposed sanctions on Russia’s e-commerce leader Wildberries and its subsidiaries in Ukraine, Belarus, Poland and other countries, freezing the company’s assets for three years, banning capital withdrawal, business contacts and exchange of technologies among other things. In a statement, Ukrainian Minister of Culture Oleksandr Tkachenko explained ...
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News briefs
Russian shoe firms intend to hike prices on rising costs
Russian footwear companies said that they plan to raise prices in the coming few months due to higher costs. Andrey Pavlov, the owner of the Russian footwear producer and retailer Zenden Group, explained that prices are being driven up by logistics costs and raw materials. Pavlov claimed that disruptions in ...
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News briefs
Iconix redeems its notes while merging with Lancer
The Iconix Brand Group has announced the full redemption of its outstanding 5.75 percent convertible senior notes, which were due in 2023, at their initial aggregate price of $125 million plus accrued interest, in connection with its planned merger with Lancer Capital on Aug. 4. The announcement coincided with the ...
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ArticleAlibaba Q1 revenues rise 34% but miss expectations
The Chinese e-commerce group Alibaba posted revenues of RMB 205.7 billion (€26.9bn-$31.9bn) in the first quarter ended June 30, an increase of 34 percent on the year earlier but below analyst expectations of a top line of at least RMB 209 billion (€27.3bn-$32.3bn) and lower than the 64 percent growth ...
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News briefs
Twitter tests an e-commerce feature for brands
Twitter has announced that it is beginning to allow businesses to add a shopping section at the top of their profile page. The “Shop Module” pilot has started with a dozen brands in the U.S. By tapping a product, the consumer reaches a listing with the option of making a ...
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Article
BasicNet posts double-digit sales increases in H1
BasicNet, the parent company of Kappa, Superga, Sebago, K-Way and other brands, has reported aggregated wholesale-equivalent sales of group products of €443 million in the first half of 2021, representing a 20.5 percent increase as compared to the same period last year. The figure includes commercial licensees’ sales of €334 ...
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ArticleWolverine raises FY outlook again after strong Q2
Wolverine Worldwide raised its guidance for the full year for the second time after achieving strong results in the second quarter ended July 3, led by the record quarterly sales performance by its two largest brands, Merrell and Saucony, on which the group has been investing more than on the ...
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ArticleAmazon’s sales slow down in Q2
Amazon posted net sales of $113.1 billion in the second quarter ended June 30, representing a 27 percent increase as compared to the prior year quarter. It was also, however, a significant slowdown from the second quarter of 2020, when sales jumped by 40 percent. Excluding the $2.5 billion favorable ...
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ArticleSquare to buy Afterpay in $29bn all-stock deal
The American fintech Square has reached an agreement to buy the Australian firm Afterpay in an all-stock deal with an implied value of about $29 billion based on Square’s share price on July 30. Afterpay specializes in buy now, pay later (BNPL) services. The transaction is expected to close in ...
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ArticleVF raises FY guidance as Q1 sales and profits beat estimates
VF Corp lifted its annual guidance after posting better-than-expected earnings and sales in its first quarter ended June 30 as retail demand for the company’s top brands continued to recover from the impact of the Covid-19 pandemic. Revenues for the three months more than doubled to $2,194 million, compared with ...
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News briefs
Hermès’ sales rise sharply in H1
The revenues of the French luxury goods group Hermès totaled €4,235 million in the first half, an increase of 77 percent year-on-year at constant exchange rates and 70 percent at current rates led by the Americas. At constant currency rates, sales in Asia, excluding Japan, rose by 86.5 percent. Japan ...
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News briefs
ThredUp buys European resale platform Remix
ThredUp, a U.S. online resale platform for women’s and kids’ apparel, shoes and accessories, has entered into a definitive agreement to acquire Remix, a Bulgarian-based fashion resale company. The acquisition will accelerate thredUP’s growth plans in Europe, where the secondhand market was estimated to be $21 billion in 2020 and ...
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News briefs
Aeffe’s footwear, leather goods sales up 43.0%
In the first half of 2021, the footwear and leather goods division of Aeffe, the Italian fashion house that owns Pollini and other brands, posted an increase in sales of 43.0 percent at constant currency rates to €68.2 million. The division’s Ebitda rose to €8.0m, representing 11.8 percent of sales, ...
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News briefs
APLF rescheduled to March 2022
The organizers of APLF-Leather, Materials+ and Fashion Access have rescheduled the events from November 17-19, 2021 to March 30-April 1, 2022 in Hong Kong. The events had already been posptoned from July 5-7 due to restrictions caused by the Covid-19 pandemic. In a statement, the organizers said that in ”the ...
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ArticleTapestry creates foundation, boosts ESG targets
Tapestry, the New York-based owner of Coach, Kate Spade and Stuart Weitzman, has formed the Tapestry Foundation to advance access and equity initiatives and to combat climate change. In addition, the American group is accelerating and amplifying its environmental, social and governance (ESG) targets and committing to a $15 U.S. ...
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ArticleGrendene Q2 hit by Covid-19 resurgence
In the second quarter of 2021, the Brazilian shoe maker Grendene was affected by a resurgence of the Covid-19 pandemic in Brazil between March and April, resulting in lockdowns and lower-than-expected orders during the two months as more than 65 percent of the country’s retailers were closed. Under its business ...
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ArticleJimmy Choo sees annual sales at $550m
In the first quarter ended June 26, Jimmy Choo posted revenues of $142 million, up by 178 percent from the prior year when results were badly hit by the outbreak of the Covid-19 pandemic. The top line grew by 147 percent on a constant currency basis. The brand posted an ...
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ArticleGeox closes its Serbian factory
Geox is closing down its Serbian plant in Vranje due to a decline in demand for formal men’s and women’s shoes, in which the factory is specialized. The plant was built between 2014 and 2015 and became fully operational in 2016. Its construction was heavily subsidized by the Serbian government. ...
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News briefs
Aquafil launches consumer e-shop for Econyl products
The yarn supplier Aquafil is reaching out to consumers. The Italian company has just launched an Econyl e-shop platform, where – for the first time – customers can buy a range of sports, lifestyle and fashion products made from the company’s regenerated nylon Econyl directly in one place. According to ...
