Product & Marketing – Page 243
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News briefs
H&M sales resume decline from end Oct due to Covid resurgence
In the fourth quarter running from Sept. 1 to Nov. 30, Hennes & Mauritz (H&M) saw net sales decrease by 10 percent year-on-year in local currencies. For the whole financial year, net sales declined by 18 percent in local currencies due to the impact of the Covid-19 pandemic, according to ...
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ArticleInditex posts better-than-expected Q3 results
In the third quarter running from Aug. 1 to Oct. 31, Inditex, the Spanish group that owns the brands Zara, Pull Bear, Massimo Dutti , Bershka, Stradivarius, Oysho, Zara Home and Uterqüe, posted sales of €6.1 billion, down by 14 percent year-on-year following a contraction of 31 percent in the ...
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ArticleJD Sports expands massively in Western U.S. with Shoe Palace acquisition
JD Sports Fashion, a British retailer and distributor of sportswear and fashionwear, has acquired the American company Shoe Palace from the Mersho family in a cash and stock deal worth over $680 million. JD Sports, through its wholly-owned holding company in the U.S., Genesis, acquired 100 percent of both the ...
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News briefs
Ashley and ABG vie for Debenhams and Arcadia
Mike Ashley, the acquisitive boss of Frasers Group who is bidding for Debenhams, the biggest and oldest British department store chain, is reportedly interested now also in some of the assets of Arcadia, the bankrupt fashion retailing group that holds the largest number of concessions in Debenhams stores. His interests ...
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News briefs
New anti-Covid measures in Germany
In concert with the governments of the individual Länder, the federal government of Germany has ordered the lockdown of all the brick-and-mortar stores that sell non-essential products, starting on Wednesday, Dec. 16. The new restrictions came after a spike in new contaminations from Covid-19. They will last until at least ...
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News briefsPremiata sees 2020 sales stable at €60 million
The Italian shoe maker Premiata expects to finish the year with sales of some €60 million, in line with 2019 and after a 17 percent rise in 2018. For next year, the company has decided to be more selective in Italy and trim its client portfolio, which will result in ...
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ArticleEU, UK extend Brexit trade talks in effort to avoid a “no deal”
The United Kingdom and the European Union had decided to wait until Sunday, Dec. 13 to find a compromise on a trade agreement that would go into effect on Jan. 1. But, the European Commission’s president, Ursula von der Leyen, said the negotiators will now continue to work into this ...
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ArticleSpartoo gives JB Martin a second chance
JB Martin, a well-known French shoe company, was put into liquidation by the Paris Commercial Court on June 2, 2020. After several years of difficulties, the company suffered a death blow from the Covid-19 pandemic. Two weeks after the court ruling, its 125 employees received their letters of dismissal. The ...
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News briefsSteve Madden has a new CFO as company veteran leaves
Steve Madden has promoted Zine Mazouzi, currently chief accounting officer and senior vice president of finance and operations, to the position of chief financial officer, replacing Arvind Dharia, who has been in the job since October 1992. The appointment is effective on Jan. 1. To ensure a smooth transition, Dharia ...
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ArticleObuv Rossii undergoes rebranding as it moves away from shoes
The Russian footwear retailer Obuv Rossii is changing names to mark its diversification away from shoes. The company is removing the word Obuv (meaning shoes in Russian) from its name to become simply OR for the main operating unit and OR Group for the parent company. Even the stock ticker ...
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News briefsMichael Dornseifer buys Wolkenwerk
The businessman and footwear veteran, Michael Dornseifer, has bought the slipper brand Wolkenwerk from Hans Kreuch, who launched the label in 2016. Dornseifer sees Wolkenwerk as an “ideal” fit with his two other brands Bali-Bali and Jonny’s. Wolkenwerk retails at €49-59 and the collection is largely composed of women’s models. ...
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News briefsGörtz names its new CFO
The German footwear retailer Görtz has appointed Tobias Volgmann as its new chief financial officer, replacing Stephan Tendam on Jan. 1. Tendam, who has served as managing director at Görtz since 2014 and is responsible for finance among other things, is resigning from the management at the end of the ...
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News briefsClarks’ general manager for DACH leaves
Lür Holler, who is general manager in charge of Germany, Austria and Switzerland (DACH), as well as head of sales for the three German-speaking countries and Benelux, for the British shoe maker Clarks is leaving the company at the end of the year. He has been with Clarks for seven ...
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ArticleRussian law enforcement agencies keep seizing untagged shoes
Russian police have seized big batches of counterfeit shoes in St. Petersburg and in the Chelyabinsk and Novosibirsk regions. In Novosibirsk, for example, police officials seized 1,338 pairs of shoes that did not have the QR codes that became mandatory in Russia on July 1 to help wipe out counterfeit ...
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News briefs
VF signs the UN Global Compact, commits to women’s empowerment
VF Corp. is a new signatory of the United Nations Global Compact (UNGC). The company has also endorsed the UN’s Women’s Empowerment Principles. The UNGC’s ten principles boil down to the upholding of “internationally proclaimed human rights,” freedom of association and collective bargaining for labor, the rejection of forced, compulsory ...
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News briefsWildberries has begun selling in Israel
Russia’s biggest online retailer, Wildberries, has stepped up its international expansion by entering the Israeli market, the company said in a statement. The company will be offering buyers in Israel up to 5 million items from 39,000 brands, including sports products, clothing, toys and household appliances. Purchased items are to ...
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News briefsShoepassion launches Henry Stevens brand
The Berlin-based footwear company Shoepassion has decided to market its men and women’s collections under the Henry Stevens brand from spring 2021. The company, which was founded in 2010 and already owns the brands N91 and Heinrich Dinkelacker, will retain the name Shoepassion. The company will take the opportunity of ...
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ArticlePeter Kaiser enters insolvency proceedings
Peter Kaiser Schuhfabrik, the German manufacturer of women’s shoes, has gone into insolvency. The proceedings were opened on Dec. 1, after the company filed an application with the Pirmasens district court on Sept. 14. Self-administration was ordered and talks with several potential investors are currently being held. Legal counsel Günter ...
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News briefs
Birkenstock wins ‘Brand of the Year’ award
The Footwear News Achievement Awards have named Birkenstock “Brand of the Year” for 2020. This is the German brand’s third win, after 2013 and 2017. A virtual ceremony took place on Dec. 8. Lyst reports that Birkenstock’s Arizona sandal is the world’s most sought-after shoe on its search engine and ...
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ArticleThe U.K. reaches trade accord with Vietnam, but deal with EU unlikely
The U.K. has finalized a free trade agreement with Vietnam, which is scheduled to become effective from Jan. 1. It is the third trade agreement reached with an Asian country, after those with Singapore and Japan. The U.K. has also reached a preliminary trade agreement with Canada. The U.K. is ...
