Product & Marketing – Page 242
-
News briefsL.K. Bennett debt restructuring plan cleared
The company voluntary agreement (CVA) of the upmarket British retailer L.K. Bennett was approved by creditors. It will result in five stores closing down and the remaining shops switching to turnover-based rents. The chain has 18 standalone stores. Among the creditors who voted against the CVA was the property company ...
-
ArticleClarks' shareholders approve £100m rescue deal with LionRock Capital
Shareholders of the British shoe maker Clarks have approved the £100 million (€110m - $134m) rescue deal with the Hong Kong-based private equity firm LionRock Capital. The iconic 195-year-old retailer was forced to seek financial help under a company voluntary arrangement (CVA) amid plunging sales in a weak trading environment ...
-
News briefs
FDRA promotes Thomas Crockett to vice president
The U.S. trade association Footwear Distributors & Retailers of America (FDRA) has promoted Thomas Crockett to vice president in charge of government affairs. Crockett has served the last six years as director overseeing government and regulatory affairs. He is currently responsible for managing FDRA’s advocacy on issues impacting ...
-
ArticleDiversity and inclusion are a growing corporate issue
In 2020, the year of the Black Lives Matter (BLM) protests, diversity and inclusion burst onto the public agenda. The theme has emerged on companies’ radars, too. Diversity and inclusion are increasingly criteria by which companies are evaluated. And, while some footwear and sportswear brands have come under fire for ...
-
Article
Vivarte’s full-year sales down by 26%
Vivarte, the French retailer that sold its former flagship La Halle in July to Groupe Beaumanoir, recorded sales for the fiscal year ended in August of €256.6 million, a 26 percent drop from the previous year on a comparable basis. Since the arrival of Patrick Puy at the head of ...
-
News briefs
TÜV SÜD introduced vegan product certification
TÜV SÜD has introduced vegan product certification to ensure that apparel, footwear and textiles are neither made of, nor finished with, animal-derived materials – such as leather, fur, fibers (wool, silk), glue, dyes and chemical substances (beeswax, carmine dye extracted from cochineal insects). The German company tests, audits and monitors ...
-
News briefs
Schuh obtains £19 million refinancing
Schuh, the British footwear retailer owned by the U.S. firm Genesco, has obtained a £19 million (€20.9m-$25.5m) financing facility with Lloyds Bank. The funding is part of the U.K. Treasury’s Coronavirus Large Business Interruption Loan Scheme (CLBILS). Schuh already had a credit facility with Lloyds and the refinancing will boost ...
-
ArticleIndustry Insights: How to find new B2B business in a digitalized market
The past spring created for most of us a feeling of pandemic panic and business paralysis. Offices were shut down and most employees were asked to work from home. From a pure productivity perspective, it gave a temporary feeling of winning back control of time. Time freed up from commuting ...
-
ArticleHow Covid-19 has impacted companies’ trade show budgets
It has become commonplace to say that the Covid-19 pandemic has dramatically accelerated trends that were already underway with the digitalization of the economy and society in general. Trade shows have been one the sectors most affected by the phenomenon as restrictions on travel and mass events worldwide prompted them ...
-
ArticleArcadia break up starts as Australia’s City Chic buys Evans for £23 million
The breakup of Philip Green’s Arcadia retail empire has started with the £23 million (€25m - $30.6m) sale of the plus-size clothing brand Evans to the Australian firm, City Chic Collective. Deloitte, appointed as administrator after Arcadia collapsed last month, said the deal excludes physical stores, with City Chic operating ...
-
News briefsBoohoo appoints PKF Littlejohn as auditor after PwC resignation
Boohoo has appointed PKF Littlejohn as its auditor after the resignation of PwC in October in the wake of a scandal over working conditions at some suppliers to the fast-fashion e-tailer. The company came under scrutiny earlier this year after allegations that workers making Boohoo clothes were paid below the ...
-
ArticleMicam wins ICMA advertising award
Micam’s advertising campaign Micam in Wonderland has won the gold medal at the ICMA International Creative Media Award for best social media project of 2020. Micam was assisted by MM Company and Laureri Associates. The Milan-based trade show said that it had “succeeded in the enterprise of using an ironic ...
-
News briefs
Asso obtains 4US license for kids’ shoes
The Italian shoe maker Asso signed a worldwide license agreement with the Italian footwear designer Cesare Paciotti for the production and distribution of children’s shoes under the 4US brand from the current autumn/winter season. Asso will offer boy and girl shoes for children aged from six to 13 years old, ...
-
News briefsKlarna enters partnership with Verifone
Klarna, the Swedish online payments group which offers ”buy now, pay later” solutions, has entered a partnership with Verifone, a California-based provider of hardware products for payment processing, that will make Klarna available to millions of Verifone devices in the U.S. and Europe. The ongoing Covid-19 pandemic has impacted shopping ...
-
News briefs
Shoe Carnival launches new $50 million share buyback
Shoe Carnival’s board authorized a new share repurchase program of up to $50 million, effective from Jan. 1. The share buyback will replace the existing $50 million share buyback that was cleared on Dec. 12, 2019. Currently, $43.1 million remain available under the existing program and additional purchases may still ...
-
News briefs
Mexico hikes minimum wage by 15%
The Mexican government increased of the minimum daily wage by 15 percent for 2021 to 141.70 pesos (€5.80-$7.10) from 123.22 pesos (€5.05-$6.18) currently. Conasami, the commission in charge of the minimum wage, noted that the wage had already been risen by 16 percent in 2019 and 20 percent in 2020 ...
-
News briefs
StockX valued $2.8 bn in new financing round
StockX, the online reseller of sneakers and other cult products, has raised an additional $275 million in a Series E funding round that values the Detroit-based company at $2.8 billion. StockX says its sales were up by 75 percent to more than $100 million in the third quarter, leading to ...
-
ArticleKering investigated by French financial prosecutor
Kering said that the French financial public prosecutor (Parquet National Financier) has opened a preliminary inquiry concerning the company in February 2019. The French luxury goods group added that it had not previously been informed of the inquiry. The comments come following media reports about the prosecutor investigating the company ...
-
News briefsBrazilian footwear exports lifted by slippers
In November, Brazilian footwear exports grew by 13.8 percent year-over-year to 9.55 million pairs thanks to a 52 percent increase in slipper exports, according to Abicalçados, which represents the local footwear industry. But in revenues, exports declined by 23.8 percent to $53.4 million during the month partially due to a ...
-
ArticleNice Footwear books €12 million in orders for spring/summer collection
The Italian footwear company Nice Footwear has booked orders representing a value of more than €12 million for the spring/summer season and expects to finish the full year, ending on April 30, 2021, with sales of more than €20 million. In the previous financial year, the top line totalled €23.5 ...
