Product & Marketing – Page 229
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ArticleEcco had a challenging 2020 but made record investments
Danish footwear brand Ecco said it has remained financially strong despite the challenges of the year 2020. The company reported sales of €1.09 billion in 2020, down 19.7 percent from €1.36 billion a year ago, and the operating margin narrowed to 4.6 percent from 14.8 percent. Profit before taxes reached ...
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ArticleDigitalization fast-tracks transformation of B2C relationships
The Covid-19 pandemic and the resulting lockdowns have led fashion companies to accelerate on digitalization, leading to profound long-term changes both in digital and in brick-and-mortar retail in a rapidly changing environment. Such acceleration in the digital shift deeply impacted not only B2B relations, but also the B2C world, fast-tracking ...
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News briefsRocky Brands closes Honeywell footwear’s takeover
Rocky Brands has completed its $230 million acquisition of the performance and lifestyle footwear operations of Honeywell International, noting that it will be immediately accretive to its own results. The business, which includes The Original Muck Boot Company and the Xtratuf, Servus, NEOS and Ranger brands, generated Ebitda of about ...
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ArticleCaleres cuts debt to below pre-Covid levels
Caleres posted lower sales and a net loss in the fourth quarter, but thanks to strong cash generation it continued to significantly deleverage its balance sheet, pushing debt below pre-pandemic levels. In the fourth quarter alone, it reduced credit facility borrowings by $50 million to $250 million, or $25 million ...
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ArticleMyanmar violence raises sourcing concerns
Many sports and fashion brands that have shifted part of their sourcing for apparel and footwear to Myanmar because of its lower labor costs are watching with awe the consequences of the recent military coup in the country. According to observers, it may be difficult for some of them to ...
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News briefs
EU plans to introduce a cross-border Covid pass by the summer
On March 17, the European Commission unveiled plans to create the so-called “Digital Green Certificate” to facilitate free movement inside the European Union during the Covid-19 pandemic. The certificate will be a proof that a person has been vaccinated against the virus, received a negative test result or recovered from ...
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News briefsPorta appointed permanent CEO of Hunter Boots
British brand Hunter Boots has confirmed Paolo Porta as permanent CEO. Porta has held the position on an interim basis since replacing Vincent Wauters in June 2020. Prior to joining Hunter, he was senior vice president of merchandising and licensing at Jimmy Choo. Before that, he held roles in merchandising, ...
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News briefs
Unlimited Footwear Group buys Braend
The Dutch footwear company Unlimited Footwear Group (UFG), best known for its Bullboxer brand, has taken over the men’s footwear brand Braend, which was founded in 2001 by Jasper van der Velden. The two companies are based in the Dutch footwear cluster of Waalwijk. Van der Velden will remain as ...
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ArticleZalando lifts sales forecasts, aims for 10% of Europe’s fashion market
Zalando has lifted its sales and profit forecasts for 2021 after reporting a 23.1 percent rise in revenues to about €7,982 million for the 12 months to Dec. 31, 2020, with increases of 17.2 percent in the German-speaking countries and 28.4 percent in the rest of Europe, where they reached ...
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Article
Li Ning’s SPAC files for a $250 million IPO
Trinity Acquisition has filed with the U.S. Securities and Exchange Commission (SEC) to raise up to $250 million in an initial public offering (IPO) of 25 million units at $10. The special purpose acquisition company (SPAC), based in Hong Kong, is led by Li Ning, the former Olympic champion turned ...
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ArticleDesigner Brands’ sales of athletic shoes rose sharply in Q4
Designer Brands improved its fourth-quarter sales from the previous three months as it continues to increase its exposure to athleisure and children’s footwear and develop its digital capabilities. The company has streamlined its offer to focus on the top 50 brands in the U.S. and top 30 in Canada. In ...
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ArticleFootwear companies take sustainability in their stride
Hardly a day goes by without a footwear company or a component supplier announcing a more sustainable product, a recycling program or an environmentally-friendly scheme. Such a flurry of initiatives is motivated by growing consumer and regulatory pressure as well as greater corporate consciousness. Nevertheless, the shift to more sustainable ...
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ArticleVictor Herrero confirmed as Clarks CEO after LionRock completes deal
LionRock Capital has completed its deal to take a majority stake in the struggling British shoe maker Clarks and confirmed senior management changes, with Victor Herrero replacing Giorgio Presca as CEO after weeks of speculation. The departures of the chief commercial officer, Massimo Barzaghi, and of the head of human ...
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News briefs
H&M sales up 10% in March 1-13
Hennes & Mauritz (H&M) posted a 10 percent year-on-year increase in net sales in local currencies in the March 1-13 period, as Germany, the retailer’s largest market, and other countries began allowing stores to reopen as Covid-19 restrictions eased. H&M had about 900 stores temporarily closed on March 13, down ...
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News briefs
Ugg's new capsule greens-up existing models
Ugg has launched a capsule collection to bring some of its existing shoe lines, such as the Fluff series, into compliance with the Paris Climate Agreement of 2016. Plant Power, as the collection is called, shifts the raw materials toward biodegradability. The collection is on sale through Ugg.com, Ugg stores ...
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News briefs
Juyi Group builds a new facility in China
The Chinese footwear company Juyi Group is building a 550,000 square meter high-technology manufacturing unit in Wenzhou’s Lucheng district. According to media reports, the facility represents an investment of about $307 million and will integrate artificial intelligence, Internet of Things and digitized logistics. Construction started in December 2020 and is ...
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ArticleGenesco sees supply chain disruption easing this summer
Congestion in maritime shipping, due to the lack of containers, is causing four to six weeks in delays in footwear deliveries. But, the situation is expected to improve and the supply chain to be “in much better shape” in summer, when the back-to-school season kicks off, according to Mimi Vaughn, ...
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ArticleItalian footwear production down by a quarter in 2020
Footwear production in Italy fell by 24.6 percent in value to €6,023 million in 2020 and by 27.1 percent in volume to 130.5 million pairs due to the impact of the Covid-19 pandemic, according to preliminary data released by the Italian footwear association Assocalzaturifici. Overall revenues for the Italian footwear ...
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ArticleJD expands in Central and Eastern Europe
Pursuing its international expansion, JD Sports Fashion has signed an agreement to acquire a 60 percent stake in the Marketing Investment Group (MIG), a wholesaler and multi-channel retailer with a network of 410 retail stores in Poland and eight other neighboring countries. The deal is due to be closed before ...
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Article
ILM cancels its physical edition but Gallery Shoes is confirmed
The physical edition of the international leather trade show ILM scheduled in April and located in Offenbach am Main, near Frankfurt, has been cancelled. The organizer, Messe Offenbach, said that the occupancy rate reached 70 percent but that the conditions were not met to hold a large physical event due ...
