Product & Marketing – Page 235
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News briefs
Moody’s downgrades VF
Completing its review of VF Corp.’s credit rating following its December acquisition of Supreme, Moody’s kept the company’s rating stable but lowered its senior unsecured debt and shelf ratings slightly. It confirmed its P-2 short-term commercial paper rating. Moody’s noted that VF’s financial leverage will remain high, predicting that its ...
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News briefs
Santoni launches online business in China
Santoni, the Italian brand of high-end shoes, has opened a store on Tmall Luxury Pavilion, the B2C marketplace of the Chinese group Alibaba, as part of a direct-to-consumer, digital-first strategy for the market. Along with its TMall launch on Feb. 1, Santoni also opened an account on WeChat, through which ...
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News briefsVivobarefoot wins sustainability award for algae-based footwear
Vivobarefoot is one of the winners of Arizona-based Footprint Foundation’s 2021 Ocean Hero Awards, which recognize innovative champions that are positively affecting the environment on a global scale. Vivobarefoot was honored with an Innovative Engineering Award “for developing the first footwear made from algae, a renewable aquatic resource.” Footprint, a ...
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ArticleObuv Rossii’s revenue shrank in 2020
The Russian footwear retailer Obuv Rossii reported that its revenues for 2020 decreased by 20.9 percent to10.845 billion rubles (€121m-$147m) from 13.702 billion rubles (€153m-$186m) in the previous year due to the impact of the Covid-19 pandemic. Anton Titov, chairman of the Obuv Rossii Group, stated that 2020 was one ...
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Article
Itochu and Aquafil join forces to sell recycled nylon
The Japanese trading company Itochu and the Italian chemical firm Aquafil have entered a partnership to promote and expand the businesses of circular nylon production. In 2011, Aquafil created the Econyl Regeneration System that turns recovered nylon waste such as fishing nets, carpets and post-industrial waste back to caprolactam (CPL), ...
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News briefsWomen’s sneakers are booming on StockX
StockX has released a report on the resale market’s evolution since the company’s founding, in February 2016. Men’s sneakers continue to dominate resales, but the resale of women’s sneakers has been growing at a faster rate, having multiplied by a factor of 1,500 since the start. StockX says it now ...
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News briefs
Another legal victory for the Moon Boot
Tecnica Group has won a second court verdict in Italy to protect the intellectual property rights behind its Moon Boot, and it is now planning to carry the fight to other countries as well, starting with Germany and Italy. The Milan Tribunal ruled on Jan. 25 that the unique design ...
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News briefs
JD Sports head says Brexit “considerably worse” than expected
The impact of Brexit on trade is “considerably worse” than expected, Peter Cowgill, chairman of JD Sports Fashion told the BBC’s World at One program. He said that red tape and shipment delays to the European single market have resulted in “double-digit millions” in additional costs. Cowgill believes that the ...
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News briefsTeva releases second Anna Sui collection
Teva is releasing for the spring of 2021 a second limited-edition shoe collection designed by Anna Sui. The collection’s two models both feature a Liberty Fabrics print, titled “Botanist’s Diary,” on the theme of press flowers from English gardens. The Flatform Universal Anna ($150) is a variant of a Teva ...
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News briefs
Hunter’s global brand director quits
After nearly eight years in job, Ali Lowry announced he was stepping down as global brand director at Hunter. In a message posted on LinkedIn called “Given Hunter The Boot”, Lowry wrote that after seven years and eight months ”I leave on a high and at a time that feels ...
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News briefs
Kurt Geiger was growing mildly before the pandemic
Kurt Geiger enjoyed a 3.7 percent increase in revenues to £347 million (€304.6m-$480.2m) in the financial year ending Feb. 1, 2020, the month before the Covid-19 pandemic broke out in the U.K., according to documents filed with the British registrar of companies, Companies House. Comparable sales growth come in at ...
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News briefs
Fred Perry buys George Cox
The British sportswear brand Fred Perry has bought the British footwear maker George Cox. The two brands are long-time collaborators and have partnered on several occasions. No financial details were released. George Cox will be integrated into Fred Perry’s global distribution network and have access to its digital expertise. Adam ...
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News briefsPrada obtains €90m sustainability-linked loan
Prada has signed a €90 million, five-year sustainability-linked loan with the Italian bank UniCredit. The loan is characterized by the application of a bonus mechanism that allows for a reduction in the interest rate with the achievement of quantitative targets in the field of environmental sustainability. Attainment of those targets ...
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Article
VF wants to eliminate single-use plastic packaging by 2025
VF Corp. has announced new sustainable packaging goals, defined as “a critical component of VF’s global sustainability strategy” for its large portfolio of brands, which includes The North Face, Vans, Timberland, icebreaker and Eastpak, among others. The new targets revolve around the following four pillars : 1) Eliminate all single-use ...
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ArticleKickz reshuffles management after takeover
The German chain of streetwear and sneaker stores Kickz is reorganising its management team and is gearing up for the future after its recent takeover. The new co-CEOs Mark Petereit and Denis Horvat will take the helm on Feb. 15, a dual leadership that should steer the company through ...
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ArticleLectra plans to buy Gerber Technology
Lectra has reached a preliminary agreement to buy the whole capital of the American company Gerber Technology in a cash and stock deal worth about €300 million. Both companies produce laser cutting machinery used by shoemakers. Under the proposed deal, Lectra would buy Gerber for €175 million in cash and ...
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News briefsBrazilian exports at their highest since April
In January, Brazilian footwear exports fell by 33.2 percent year-over-year to $60.93 million. In volume, the decline narrowed to 22.2 percent with 9.73 million pairs sold. However, month-on-month exports increased by 5.0 percent in volume and by 2.1 percent in value and were at their highest level since April 2020. ...
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News briefs
Wortmann installs PV panels at its HQ
The Wortmann Group has installed nearly 7,000 square meters of photovoltaic (PV) panels on the roofs of its headquarters in Detmold, Germany. The panels cover an area the size of a football pitch and are expected to produce 1.18 million kilowatt hours annually, which corresponds to the consumption of 300 ...
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News briefs
Besson Chaussures plans about 12 openings in 2021
The French footwear retailer Besson Chaussures plans about 12 openings this year, of which six are scheduled in March, in line with the increase seen in 2020. Next month’s six openings are across France and represent stores ranging from 525 to1,300 square meters. The retailer, which was founded in 1982, ...
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News briefs
Dune to ask landlords to concede more
Dune is reviewing its business and will ask landlords to concede more as trading conditions remain difficult in the U.K. “The trading environment continues to be extremely tough, and like many other high street retailers, we are reviewing all aspects of our business to ensure we’re in the best position ...
