Product & Marketing – Page 249
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Article
Better-than-expected Q3 results for Wolverine
Although they were down on last year’s third quarter, Wolverine Worldwide posted better-than-expected sales in the three months to Sept.26, led by double-digit growth from Saucony and Chaco. The impact of coronavirus-related restrictive measures on retail was partly offset by a growth of 56.4 percent in the group’s own e-commerce ...
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ArticleJimmy Choo sees opportunity to hike prices, expand casual footwear range
Jimmy Choo has reached breakeven in the second quarter and sees the opportunity to significantly increase its prices and to expand its casual footwear assortment.
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ArticleBogs steps up as Covid lockdowns hit Q3 sales at Florsheim
U.S. shoemaker Weyco swung to a third-quarter loss as lower casual and formalwear sales offset a strong performance from the Bogs North American outdoor wholesale unit. The company, which also owns the Florsheim, Stacy Adams and Nunn Bush brands, reported a net loss of $5.9 million for the three months ...
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News briefsVRG rebrands Accent stores as Rizzo
Venue Retail Group (VRG) is converting its Accent stores in Sweden and Morris stores in Norway to a new store concept which it has been testing since July 1 and currently has four pilot shops. The pilots have shown “a very positive development and we have received the answers we ...
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ArticleClarks reaches £100m rescue deal with private equity LionRock
The Asian private equity firm LionRock Capital has reached an agreement to rescue the iconic British shoe brand Clarks in a £100 million (€110.9m, $130.0m) deal that will see the founding family keep a stake in the business. The deal, which requires approval of a Company Voluntary Arrangement (CVA), will ...
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ArticleZalando Q3 sales volumes up by 29.9%
In the third quarter, Zalando’s gross merchandise volume (GMV) grew by 29.9 percent to €2.5 billion while revenues advanced by 21.6 percent to €1.8 billion. The German e-tailer continued to benefit from accelerated consumer shift towards digital purchases and the “strong performance “of its Partner Program and Lounge services. Adjusted ...
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News briefsEurazeo sells stake in Farfetch
The French investment house Eurazeo has sold its minority stake in Farfetch, a London-based online marketplace for fashion and luxury goods brands and multi-brand boutiques present in 190 countries, for net proceeds of €90.4 million. After investing in Farfetch in 2016, Eurazeo said it helped Farfetch to develop business among ...
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News briefsCrocs implements AI solution to block unauthorized web ads
Crocs has partnered with Namogoo Technologies on the implementation of a solution that automatically prevents unauthorized and distracting ads from appearing on the Crocs e-commerce site. The Namogoo Customer Journey Hijacking Prevention solution uses artificial intelligence (AI) to identify and block these ads, which are designed to look like native ...
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News briefs
VF has a new VP of inclusion and diversity
VF Corp. has appointed Lauren Guthrie as vice president of global inclusion and diversity (I&D) in replacement of Reggie Miller, who is resigning. Guthrie has worked in merchandising for most of her career, first at Abercrombie & Fitch and Levi Strauss, then in an executive capacity at Nike, Old Navy ...
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ArticleAmazon Q3 sales up 37%, net profit triples
Amazon’s third-quarter sales grew by 37 percent to $96.1 billion. They were boosted by booming online transactions during the coronavirus crisis worldwide, which prevented or discouraged shoppers from purchasing in physical stores. Excluding a $691 million favorable impact from year-over-year changes in foreign exchange rates during the quarter, sales increased ...
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News briefsDr. Martens to take over wholesale distribution in Italy
From June 1, 2021, Dr. Martens will bring in-house wholesale distribution in Italy. Asap has been the brand’s distributor in the country for over 30 years. Dr. Martens will manage sales directly from the next autumn/winter collection. In the meantime, the two companies will be working together to ensure a ...
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News briefsGenesco’s CFO leaves
Melvin Tucker, Genesco’s senior vice president and chief financial officer, has resigned, effective Nov. 27, in order to pursue an opportunity outside of the company. The American footwear retailer has started searching for a new CFO. In the interim, the position will be held by the company’s president and chief ...
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News briefsFootway widens e-commerce for its brands to 24 markets
Footway, the international Swedish-based shoe e-tailer, has launched a new integrated internet platform for all its operations including Sportamore, the sporting goods e-tailer that it recently acquired, widening its presence to a total of 24 markets all over Europe. The platform also houses a couple of house brands, Hoppe and ...
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News briefs
Dior offers AR experience on Snapchat for B27 sneaker
Dior is offering an augmented reality (AR) experience on Snapchat for the launch of its new B27 sneaker. The French luxury brand allows Snapchat users to virtually try on six variations of the shoe and to buy them directly from Dior’s channel on Snapchat or through Dior.com. The sneakers retail ...
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News briefs
Premium Group cancels Berlin shows scheduled in January
After having surveyed exhibitors, partners and buyers, the Premium Group has decided not to hold the Premium, Seek and Fashiontech events scheduled in January in Berlin due to the environment caused by the Covid-19 pandemic. On the group’s website, Anita Tillmann, the managing partner of Premium Group, said that “as ...
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Article
Primark faces £375 mn loss of sales due to Covid restrictions
The Irish fast fashion retailer Primark, which is owned by Associated British Foods (ABF), could lose £375 million pounds (€415.9m-$484.0m) in sales due to the closure of stores following restrictions imposed by local authorities throughout Europe to combat the Covid-19 pandemic. The estimate includes a planned lockdown in England. As ...
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ArticleGrendene recovers sharply in Q3 driven by domestic market
Grendene posted the best third quarter in its history in terms of gross revenues, and the third best in volumes, as the company recovered, thanks to domestic demand, from a dismal second-quarter performance, caused by the Covid-19 pandemic. The Brazilian footwear manufacturer posted a 9.5 percent increase in gross revenues ...
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News briefsLiu Jo footwear unit sees 2020 sales up 30%
Eli, the company that manages the footwear of the Italian apparel brand Liu Jo, expects to close 2020 with sales of €44 million, up more than 30 percent from 2019, according to Fashionmagazine.it. The company, which opened a new showroom in Milan in September, benefited from a more than 30 ...
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News briefsGenesco appoints an investment banker to its board
Genesco has appointed John F. Lambros to its board of directors. Lambros is president of GCA-U.S., a global investment bank. He serves as the head of GCA’s digital media banking practice, is a member of its board of directors and executive committee, and is the head of the firm’s New ...
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ArticleStuart Weitzman’s sales improve from the previous quarter
In the fiscal first quarter ended on Sept. 26, Stuart Weitzman posted net sales of $56 million, down by 35 percent from $87 million in the same period of the prior year. Nevertheless, sales exceeded the company’s expectations and marked a sharp improvement from the previous quarter, when they stood ...
