Product & Marketing – Page 225
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ArticleItalian tanners warn about the rising cost of raw materials
The Italian tanners’ association, Unic, is warning about the “destabilizing” impact of a sharp increase in the price of raw materials. In recent weeks, the cost of raw hides and skins has increased in “a generalized and almost unreasonable way” while tanneries face a sharp decrease in demand, Unic said ...
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ArticleVietnam sees 2021 leather and footwear exports reaching $20 billion
Vietnam’s Leather, Footwear and Handbag Association (Lefaso) expects its industry to achieve exports of more than $20 billion this year after suffering from a decline last year due to the impact of the Covid-19 pandemic on supply chains, consumption and trade. Last year, Vietnam’s export turnover of footwear and handbags ...
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News briefs
Vibram North America undergoes management changes
Italian outsole specialist Vibram has announced several changes to its North American leadership team. It said this is part of its long-term organizational strategy to align the company for growth. Tammy Vrahopoulos, a former Deloitte employee and HR strategy consultant, has been hired as the company’s VP of human ...
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News briefs
Sale of 65% of Garmont completed
Garmont International reported that the previously announced acquisition of a 65 percent stake in the company’s share capital by Milan-based Riello lnvestimenti Partners SGR has been finalized. Of the remaining 35 percent of the company, Pierangelo Bressan, the current president and CEO, holds a 30 percent stake. He will continue ...
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ArticleGerman consumers are ready to spend more, despite the lockdowns
German consumers are known to be keen on saving money when there is an economic crisis. Faced with what they call the “Corona crisis,” they have saved an estimated €230 billion since March 2020, when the crisis began, but they are said to be eager to spend more again once ...
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News briefs
U.S. patent office finds Timberland’s iconic boot design too generic
The U.S. Patent Office’s Trademark Trial and Appeal Board denied a bid by VF Corp. to register the design of Timberland’s iconic Yellow Boot, concluding that it lacks sufficient acquired distinctiveness. The board noted that there was no evidence that competitors were trying to intentionally copy the boot’s trade dress, ...
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News briefs
Chiara Ferragni joins Tod’s’ board
Tod’s appointed the 33-year old Italian entrepreneur, fashion influencer and blogger Chiara Ferragni to its board in an effort to better approach young consumers. The news boosted Tod’s’ share price by 14 percent and added about €100 million to its market capitalization. The Italian footwear company said it is “certain” ...
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News briefs
Asos issues a £500 million convertible bond
The U.K. online fashion retailer Asos is selling £500 million (€577.5m-$686.6m) in senior unsecured guaranteed convertible bonds due in 2026. The bonds are being offered by the company’s wholly-owned subsidiary Cornwall. The proceeds will be used to fund the company’s global growth, as well as the acquisition of Topshop brands ...
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News briefsBoohoo adds fourth UK warehouse to expand capacity
Boohoo has acquired access to a fourth warehouse to support its expansion, increasing the British online fast-fashion retailer’s annual sales capacity to more than £4 billion (€4.62bn-$5.5bn) on aggregate.The company has signed a long-term lease on the former Arcadia distribution center site in Daventry, Northamptonshire, which was bought out of ...
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ArticleVF’s new fulfillment center in the U.K. begins operations
VF Corp., through its local subsidiary VF Northern Europe Limited, has begun operations at its new fulfillment center in Bardon, Leicestershire, which will employ about 250 people at peak times. The new 55,800-square-meter center will have “state-of-the-art automation capabilities putting it at the forefront of the footwear and apparel industry.” ...
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ArticleTeva works to divert products from landfills with new sandal recycling initiative
U.S. company Teva, founded in 1984 and part of Deckers Brands, has partnered with international recycling company TerraCycle to launch the TevaForever program to give worn-out Teva sandals a new life. The recycling program underscores Teva’s commitment to reducing its environmental impact and keeping waste out of landfills. “The TevaForever ...
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News briefs
HandsFree Labs gets $3 million in funding round
HandsFree Labs, the Utah-based company that partnered with Nike to create the Go FlyEase laceless clog due to become available on nike.com on Apr. 30 for $120 per pair, has raised $3 million in a new round of funding led by the Frazier Group. The hands-free footwear technology company had ...
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ArticleStockX's value surges to $3.8 billion
StockX, the American online market for sneakers, raised $195 million in a secondary tender offering and an additional $60 million in Series E-1 primary shares at a $3.8 billion valuation. Altimeter Capital led the all-cash offer, with the participation of existing investors and of a new institutional investor, Dragoneer. The ...
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ArticleAsos posts record profits on lockdown shopping boom
In the first half ended Feb. 28, the British online retailer Asos more than tripled pre-tax profits to a record £106.4 million (€122.8m-$145.8m) and raised full-year expectations as it continues to benefit from the Covid-19 pandemic. While the switch to online shopping during lockdowns boosted trading, Asos was cautious over ...
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News briefs
Ferragamo’s creative director leaves
Salvatore Ferragamo’s creative director Paul Andrew will leave the company in May to pursue other professional opportunities. The Italian luxury goods company said that the existing in-house team will be entrusted with creation and design. “After five years, with pride and a heavy heart, I’ve decided it’s time for a ...
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News briefs
Saucony appoints Fábio Tambosi as chief marketing officer
Saucony has announced the appointment of Fábio Tambosi as its new chief marketing officer, effective immediately. Tambosi has more than 18 years of experience in global brand-building, most recently serving as Adidas’ global head of brand, planning and activation for its Sports Performance categories. Prior to Adidas, he served as ...
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ArticleHR Group promotes Steffen Rosenbauer CEO
The German shoe retailer HR Group has appointed a new CEO. Steffen Rosenbauer, the managing director of the group’s Reno footwear chain, took up the post on April 1 as Peter Wolf resigned after a three-year tenure to return focusing on the role of chairman of the advisory board. Rosenbauer, ...
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News briefs
H&M plans layoffs, store closures in Spain
Hennes & Mauritz (H&M) intends to lay off more than 1,000 workers in Spain who are now under furlough due to the Covid-19 pandemic, according to the Spanish union Comisiones Obreras (CCOO). The Swedish apparel retailer “informed employee representatives of the launch of a redundancy plan which it said will ...
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News briefs
Schuhplus to open a store in Leipzig station
Schuhplus, the German mail-order retail specialist for extra-large men’s and women’s shoes, is scheduled to open in May a 125 square meter store in Leipzig’s main railway station. The station has about 70,000 passengers a day and ranks as Europe’s best, according to the European Railway Station Index for 2021. ...
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News briefs
Some 150 exhibitors have registered for Gallery Shoes
About 150 exhibitors representing some 350 brands are currently registered for the special edition of Gallery Shoes & Fashion Industrial Showroom that will take place April 18-20 at the Areal Böhler venue in Düsseldorf. The event will be held in three halls of the venue. Premium shoes will be located ...
