Product & Marketing – Page 209
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ArticleU.K. fashion industry struggles to absorb higher costs from Brexit
Brexit has led to higher prices and increased bureaucracy for the clothing industry and companies are struggling to absorb the additional costs, a comprehensive industry survey has found. The poll of 138 firms by the UK Fashion and Textile Association (UKFT) showed that British firms are experiencing shipping delays, higher ...
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News briefs
LVMH hires a diversity, inclusion officer
The French luxury goods group LVMH has appointed Vanessa Moungar as chief diversity and inclusion officer. She will report to the group’s executive vice president of human resources and synergies, Chantal Gaemperle. Moungar’s role will be to build a network of diversity and inclusion leaders in the group’s portfolio of ...
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News briefs
UniCredit to support Aeffe’s suppliers
The Italian bank UniCredit has agreed to support the suppliers of the Italian fashion house Aeffe, which owns the footwear brand Pollini. Aeffe has more than 800 suppliers, about 90 percent of which are Italian. Under the agreement, UniCredit Factoring will provide €7 million in credit facilities to Aeffe’s suppliers ...
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ArticleNice Footwear buys Favaro Manifattura Calzaturiera
Nice Footwear, an Italian company specializing in sneakers, has taken over Favaro Manifattura Calzaturiera, an Italian manufacturer of luxury women’s shoes. No financial details regarding the transaction were released, but the company specified that it is acquiring only 80 percent of Favaro, the remaining 20 percent staying in the hands ...
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Adidas sues Thom Browne
Adidas has filed a formal lawsuit in a New York federal court for copyright infringement against Thom Browne, according to The Fashion Law, charging that the New York-based menswear designer is “selling athletic-style apparel and footwear featuring two, three or four parallel stripes in a manner that is confusingly similar ...
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News briefs
Intersport sells The Athlete’s Foot
The board of Intersport International Corp. (IIC) had already decided one year ago to initiate a search for a new owner of The Athlete’s Foot (TAF), the sports lifestyle footwear banner that it acquired in 2012. The Swiss-based owner of the big Intersport brand has finally picked the Arklyz Group, ...
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News briefs
Hoka One One strengthens its product team
Hoka One One has announced Evie Moe and Matt Rask as new senior members of its product team. Moe has been hired as the brand’s first senior director of apparel. Hoka’s apparel division was launched in March 2020, and it is growing rapidly. Most recently, Moe served as the vice-president ...
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News briefs
Ferragamo CEO leaves with a €2m golden handshake
Micaela le Divelec Lemmi, Salvatore Ferragamo’s chief executive since 2018, will leave the company early September. The decison was made after the Italian fashion house hired Marco Gobbetti, currently chief executive of Burberry, as its general manager and CEO. He is scheduled to join Ferragamo as soon as he is ...
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ArticleC-Suite interview: Velasca aims to increase sales 10-fold to €100m in five years
Velasca, a fast-growing Milan-based footwear company, focuses on offering quality Italian-made shoes at reasonable prices through a tightly controlled direct-to-consumer (DTC) strategy. It aims to increase revenues from €10 million to €100 million in about five years and is currently seeking to raise €20 million to finance its growth.
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News briefs
H&M swings back to a profit
Hennes & Mauritz (H&M) booked a profit after financial items of SEK 2.204 billion (€226.2m-$257.3m) in the first half ended May 31 compared with a loss of SEK 3.978 billion (€391.3m-$464.5m) the previous year, while the net profit was SEK1.697 billion (€166.9m-$198.1m), up from a loss of SEK 3.063 ...
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News briefs
Allyson Felix launches the brand Saysh
The American sprinter Allyson Felix has launched Saysh, a new lifestyle brand for women. Felix, who has just qualified for her fifth Olympics, is one of the most decorated U.S. athletes in history. The first product of her new company, the Saysh One sneaker, is available for pre-order on Saysh’s ...
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News briefs
Timberland in global product take-back program in partnership with ReCircled
Timberland is kicking off a product take-back concept. After launching in the U.S. in August 2021, the program will expand to EMEA this fall and to the APAC region in spring 2022. Developed in partnership with ReCircled, founded in 2019 to provide process and infrastructure for the reuse of footwear ...
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ArticleFlattered doubles sales in 2020 thanks to discounts, online marketing
The Swedish shoe manufacturer Flattered was hard-hit by the first wave of the coronavirus pandemic last year, but rapidly managed to recover and significantly increase sales during the remainder of the year. As of the spring of 2020, the company struggled with cash flows and became deeply concerned about ...
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News briefs
U.S. reportedly asked European countries to delay digital tax
The U.S. has asked several European countries to delay the implementation of the digital services tax, which will serve to fund part of the European Union’s multi-billion dollar recovery plan, the news agency AFP reported citing a U.S. document. In the document, the U.S. noted that approval of the tax ...
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News briefs
Sole Fashion August edition canceled
The footwear show Sole Fashion, scheduled for Aug. 8-9, has been canceled over a delay in the lifting of the remaining Covid-19 related restrictions in the U.K. The next edition is due on Feb. 27-28, 2022. The event, which is held in the Coventry Building Society Arena (formerly Ricoh Arena) ...
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News briefs
VF sells its Work segment, except Dickies and Timberland Pro
After announcing in April that it had reached a definitive agreement to sell this business unit, VF Corp. announced that it has completed the divestiture of the workwear portion of its Work segment to an affiliate of Baltimore-based Redwood Capital Investments, LLC, a diversified holding company. The transaction includes the ...
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News briefs
Saucony unveils Run It Local campaign to support running retailers
Saucony is launching a new initiative, Run It Local, to support specialty running retailers. The €335,000 campaign will run from July to September with various activities across Saucony’s EMEA territories. Beginning with a drive to access runner-reach, a geo-targeted social media burst and digital ads will highlight the benefits of ...
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ArticleCCC pulls out of Austria, to sell 29 stores to Pepco
The Polish footwear company CCC is withdrawing from the Austrian market and Pepco will take over 29 of CCC Austria’s 46 stores on Sept. 30, 2021. Pepco, a Polish retailer which offers everything from clothing to cosmetics and school supplies, operates more than 3,200 low-cost stores in 16 countries ...
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News briefs
Capri raises FY guidance
Capri Holdings, the luxury goods conglomerate that owns Versace, Jimmy Choo and Michael Kors, has raised its fiscal 2022 revenues and adjusted earnings per share guidance. The company now expects full-year revenues to be about $5.15 billion compared to a previous guidance of $5.10 billion, primarily reflecting better-than-anticipated fiscal first-quarter ...
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ArticleVivarte in exclusive talks to sell Minelli
Vivarte has entered exclusive talks to sell its footwear and accessories brand Minelli to the businessmen Stéphane Collaert and Laurent Portella, who run the footwear brand San Marina. Collaert was involved in the purchase of San Marina, in February 2020, from Vivarte. Created in 1973, Minelli is part of the ...
