Product & Marketing – Page 221
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News briefs
Zalando expands its loyalty program with early access
Zalando is adding what it calls “assortment-related benefits” to its loyalty program, Zalando Plus. The first is Plus Early Access, which, as the name suggests, provides program members – initially in Germany – with early access to new products. And the first product being offered under the new scheme is ...
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News briefs
VF divests its occupational workwear operations
Completing a divestiture process that began in January 2020, VF Corp. has sold the occupational workwear portion of its Work segment to a subsidiary of Redwood Capital Investments for a yet undisclosed price. The deal should be closed during VF’s present quarter, which ends on June 30. The group is ...
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News briefs
Kinetyx gets funding for its “kinesomic sensory insole”
Kinetyx’ director, Robin Thurston, believes that every shoe in the world will be fitted with sensors twenty years from now. The Canadian high-tech company, which was spun off by its parent, Orpyx Medical Technologies, nearly one year ago, has secured new funding for its continued R&D on a “kinesomic sensory ...
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News briefs
Yue Yuen turned around in Q1
Yue Yuen Industrial estimates that it made a net profit of between $80 million and $90 million in the first quarter, against last year’s pandemic-triggered loss of $56 million for the period. The world’s largest shoe producer says it has enhanced the utilization and efficiency of its manufacturing operations, following ...
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News briefs
Saucony introduces a versatile sports shoe
Saucony has unveiled the all-new Freedom 4, a versatile shoe that can be used for running, the gym and all-day casualwear. Borrowing from the brand’s Endorphin Collection, the new version of the Freedom has been updated with PWRRUN PB, an ultralight PEBA cushioning. The shoe’s base has been widened slightly ...
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ArticleSteve Madden beats its own expectations in Q1
Steve Madden beat its own expectations in the first quarter of 2021 with revenues increasing by 0.5 percent to $361.0 million and a net income of $21.2 million, or $0.26 per diluted share, compared to net loss of $17.5 million, or $0.22 per diluted share, a year earlier. Adjusted net ...
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News briefs
Birkenstock to invest an extra €1.8m in its components site
Birkenstock is investing an additional €1.8 million in the modernization of its German site in Bernstadt which employs about 800 people and produces uppers and buckles for the sandal maker. It indicated the funds will be used for the renovation of social areas as well as the creation of office ...
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News briefs
Allbirds reportedly preparing for IPO
Allbirds, the B Corporation certified Californian brand of footwear and apparel, is interviewing banks in preparation for an initial public offering (IPO), according to the DealBook newsletter of The New York Times. The company was last valued at around $1.7 billion in a $100 million Series E funding round held ...
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ArticleCrocs ups guidance after rising by over 60% in Q1
Raising its guidance for the full financial year after a very strong first quarter, Crocs predicted that its revenues will grow by between 40 and 50 percent in 2021 from last year’s level of $1,386 million, up from its previous forecast of 20-25 percent growth. Posting the third consecutive quarterly ...
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News briefs
JD Sports to sell its seconds to a reseller
JD Sports will be selling its seconds – returned and flawed sneakers and apparel – to a British company called Sole Responsibility. Established in 2014 and still run, with some help, by the co-founding husband and wife, Sole Responsibility buys “products that would have been disposed of” and sells them ...
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News briefs
Sequential sells Heelys for $11m
The Sequential Brands Group, which is under strong pressure to pay back its debts, has sold the Heelys brand of wheeled shoes to BBC International, a U.S. footwear company that has been Heelys’ core licensees since 2013, when Sequential bought the brand for $5.5 million. Heelys was one of the ...
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News briefs
Shipping giant sees tight market conditions until Q4
The world’s largest container shipping company Maersk expects tight market conditions in maritime transport to continue until the fourth quarter of 2021. When commenting on its trading performance, the company said that “the continued strong performance is mainly driven by the continuation of the exceptional market situation with surging demand ...
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ArticleItalian footwear companies need to integrate more managerial skills
In the coming months, with the easing of lockdowns and reopening of economies, companies will be focusing on the relaunch of their businesses. But, they will also be facing a deeper organizational and structural transformation driven by digitalization, a culture of sustainable growth, an increased emphasis on a product’s narrative ...
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News briefs
Snap paid $124.4 million for Fit Analytics
The American social media company Snap paid $124.4 million to acquire Fit Analytics, a German sizing technology company that powers solutions for retailers and brands, it bought in March 2021. The information was contained in 10-Q form filed with the U.S. Securities and Exchange Commission. Snap added that in 2020 ...
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News briefs
LVMH launches B2B digital platform to sell deadstock
Nona Source, a B2B digital platform specializing in the sale of deadstock at discounted prices, was launched on April 26. It was founded by Romain Brabo, Marie Galguera and Anne Prieur du Perray with the backing of the French luxury goods group LVMH. The platform collects leftover fabric and leather ...
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ArticleStella bounces back in Q1
In a business update, Stella International said revenues for the first quarter increased by 15.3 percent to $303.4 million. This is mainly due to a favorable comparison base with last year’s first quarter, when the Chinese company’s revenues were affected by store and factory closures, as well as lower demand ...
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ArticleWorld Footwear helps shoemakers to deal with Brexit
The Portuguese shoe industry association, Apiccaps, has posted a useful guide on the website of World Footwear with practical checklists for shoe exporters and importers on how to deal with the new trade agreement between the U.K. and the European Union. It also organized a few days ago an interesting ...
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News briefs
Pretty Ballerinas opens 3rd store in China
Pretty Ballerinas, which belongs to the Spanish company Mascaró, has opened its third store in China. The 53-square-meter store is located in the Shenyang MixC One mall in the city of Shenyang, in the northeast of the country. The brand already has stores in Beijing and Shanghai.
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News briefs
Argentina imposes display of local sizes from July 31
The Argentine government has set July 31 as the deadline for footwear manufacturers and retailers to display local sizes on shoes and boxes. Companies failing to comply will be sanctioned. The measure aims at providing clearer information to consumers as well as boosting the local production of footwear.
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News briefs
Beira Rio to build a factory in Argentina
The Brazilian shoe maker Calçados Beira Rio plans to build a factory with an annual production capacity of 3 million pairs in the north of Argentina. The facility will supply the Argentine and international markets. It will be Beira Rio’s first manufacturing unit outside Brazil. The company has 11 manufacturing ...
