Product & Marketing – Page 224
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ArticleOnline sales exceed €100 billion in German-speaking countries
In 2020, the outbreak of the coronavirus pandemic led revenues from e-commerce to exceed the €100 billion threshold for the first time in the German-speaking countries of Germany, Austria and Switzerland, according to BEVH, the German E-Commerce and Distance Selling Trade Association. Orders averaging €1,000 were placed by customers in ...
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News briefs
Allbirds shifting to regenerative wool
Allbirds has pledged to be sourcing nothing but “regenerative” wool by 2025. The U.S. direct-to-consumer brand plans by that same year to have made its supply carbon-neutral as well. Rather than change suppliers, Allbirds will be encouraging a technique called regenerative agriculture, which – as defined by the non-profit organization ...
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News briefs
Nike is now refurbishing sneakers
Nike has begun selling reconditioned sneakers at “up to” 15 stores in the U.S., with plans for more. The program is not going to be implemented in Europe until further notice. Inaugurated on April 12, the Nike Refurbished program operates with Nike sneakers returned within 60 days of purchase, which ...
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News briefs
Big monthly sales jump for Yue Yuen
Yue Yuen Industrial Corp. reported a 30 percent jump in total revenues to $870.9 million for the month of March as compared to a year ago, when the novel coronavirus pandemic shut down its manufacturing and retail operations in China. Revenues from manufacturing and retailing were up by 12 percent ...
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ArticleTop footwear brands gain 9% in value
Footwear is the only subsector of the Brand Finance Apparel 50 2021 survey to increase in brand value year-on-year, posting a 9 percent increase on average to $5.0 billion. New entrants in the ranking, Timberland and Converse, recorded 47 percent and 8 percent increases in brand value respectively. The ...
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News briefs
LVMH fashion and leather goods sales surge in Q1
Organic sales of the fashion and leathergoods division of the French luxury goods conglomerate LVMH rose by 52 percent in the first quarter. On a reported basis, quarterly sales for the division were up by 45 percent to a record €6.738 billion. The group as a whole posted revenues of ...
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ArticleMost consumers have changed shopping habits with the pandemic
In its latest Fast-Moving Consumer Goods (FMCG) Report 2021, London-based data and analysis company YouGov surveyed more than 19,000 consumers in 17 markets worldwide to find out about their shopping behavior. The study reveals differences between the various markets, but also similarities. A 59 percent majority of consumers across all ...
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News briefs
Alibaba settles with Chinese anti-trust authorities
The Alibaba Group has agreed to make it easier for merchants to do business with it, without preventing them from using other platforms, as part of a series of ”comprehensive rectifications” demanded by Chinese anti-trust regulators, which charged it of abusing its dominant market position. The Chinese internet company will ...
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News briefs
Boohoo buys new London office for £72 million
The British online fashion retailer Boohoo has acquired a new office in Soho, in London’s West End for £72 million pounds (€83m-$99m). Since acquiring the Karen Millen and Coast brands in 2019, the group’s presence in London has grown significantly through organic growth and more recently through the acquisitions of ...
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News briefs
Li & Fung launches an incubator for digital ventures
Li & Fung, the sourcing giant headquartered in Hong Kong, is launching LFX, a new and separate company designed to capitalize on new digital opportunities that can transform the retail industry and enable sustainability along the supply chain. Described as “an incubation, investment and operating platform,” LFX will launch and ...
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ArticleBavaria enforces a lockdown, England re-opens
While Bavarian shoe stores were forced to close down again as of April 12, all types of non-essential retailers, including shoe stores, were allowed to re-open in England and Wales. The British Retail Consortium has estimated that non-food stores have lost some £27 billion (€31bn-$37bn) in sales from 16 weeks ...
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News briefs
Anthropologie changes CEO
Urban Outfitters announced that Tricia Smith is the new CEO of its clothing retail unit Anthropologie, replacing Hillary Super. Super left on April 9 after four years with the company and Smith took over the job on April 12. Smith spent over 26 years at Nordstrom, where she was executive ...
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ArticleActivist shareholder seeks to take control of Genesco’s board
Legion Partners Asset Management, which owns 5.6 percent of Genesco’s capital, is seeking to take control of the eight-member board of the American footwear firm with the intention of boosting the company’s earnings and share performance. Legion is proposing the election of seven nominees - Marjorie Bowen, Thomas Kibarian, Margenett ...
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ArticleKering unveils new logistics hub in Italy
Kering has presented its new logistics hub located in Trecate, about 50 kilometers west of Milan in the province of Novara, and managed by XPO Logistics. The French luxury goods group said that it was its largest investment in Italy but without indicating the amount. The site is composed of ...
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News briefs
Italian footwear industry beyond “critical level”
The situation of the Italian footwear industry is beyond the “critical level” because of the impact of the Covid-19 pandemic, according to Siro Badon, the chairman of the Italian footwear association Assocalzaturifici. Last year, the production of Italian shoe makers fell by 27.1 percent in volume and by 25.2 percent ...
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ArticleStocks of U.S. footwear companies rebound sharply in Q1
The shares of the American footwear companies rebounded sharply in the first quarter of 2021 as the sector recovers from the market turbulence caused last year by the Covid-19 pandemic. American footwear companies are benefiting, like the rest of the equity market, from cheap and abundant money provided by U.S. ...
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News briefs
The Russian shoe maker Skorokhod may go bankrupt
The Russian packaging firm Petropack has filed a court case demanding that Skorokhod, one of the largest footwear factories in the country’s northwest, be declared bankrupt for having failed to settle deliveries. Petropack’s claim has been published in the Russian database of arbitration cases. The amount of the liability has ...
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ArticleSpanish footwear manufacturers seek to avoid U.S. tariff
The Spanish footwear association Fice is seeking to fend off a possible 25 percent tariff imposed by the U.S. on Spanish footwear. The trade organization said that it held a meeting on April 8 with Juan Martínez, the general director of Spain’s trade policy, to express “the enormous concern” generated ...
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ArticleValentino Shoes Lab to resume production in May after fire
Valentino Shoes Lab is scheduled to resume production on May 3 after its manufacturing unit located in the industrial estate of Bucine, Tuscany, was 90 percent destroyed in a fire during the night between April 1 and 2. Production will be distributed over several sites as the reconstruction of the ...
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News briefsObuv Rossii’s profit slumped in 2020
Obuv Rossii’s revenues in 2020 decreased by 21.4 percent to 10.772 billion rubles (€119m-$140m) from 13.702 billion rubles (€152m-$179m) in 2019 due to the impact of the Covid-19 pandemic. In April 2020, all the company’s stores were closed due to a pandemic-related lockdown and part of them opened in May-June. ...
