Product & Marketing – Page 262
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ArticleGeox sees gradual recovery after H1 sales drop by 39.0%
Geox has reopened all its directly-operated stores (DOS) temporarily closed due to the Covid-19 pandemic and is seeing a gradual recovery in its performance after first half sales took a hit from store closures during lockdowns. Yet it cautions that uncertainties about the “still very much ongoing” pandemic make forecasts ...
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ArticleVF expects some improvement in the second fiscal quarter
Despite posting steep declines in revenues and earnings for its first quarter ended on June 30, the management of VF Corp. insisted that the company is in a strong position to get through the coronavirus pandemic because of its “financial and operational rigor” and the progress it has made in ...
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ArticleHoka’s momentum saves Deckers’ quarter
Despite headwinds from Covid-19, and a 10 percent decline for Ugg, robust sales at Hoka One One helped Deckers Brands grow in its first fiscal quarter ended on June 30. They progressed by 2.3 percent from the same period last year to $283.2 million, or by 2.8 percent in constant ...
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News briefs
Ricosta doubles daily production in Germany
The German children’s shoe manufacturer Ricosta has doubled the daily production of shoes at its headquarters in Donaueschingen from 1,000 to 2,000 pairs. With this, the company wants to signal to its trading partners that it is still able to deliver despite the coronavirus crisis and intends to maintain its ...
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ArticleHotter Shoes to close 46 stores as CVA approved by creditors
UK footwear chain Hotter Shoes will press ahead with plans to close 46 stores after creditors approved a Company Voluntary Arrangement (CVA) to restructure the firm during the coronavirus pandemic. The CVA was approved by 99.5 percent of voting creditors, including an “overwhelming majority of landlords”, passing the legal 75 ...
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Article
Josef Seibel plans shoe factory in Africa
Josef Seibel Group plans to open a new shoe factory in Ukunda, Kenya, in autumn 2020. It is a humanitarian project by the German company’s chief executive, and president of the Federal industrial footwear and leather goods’ association HDS/L, Carl-August Seibel. He had already financed and built a primary school ...
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ArticleCrocs’ results boosted by e-commerce
While many brick-and-mortar stores were closed during the second quarter, Crocs saw record sales in e-commerce, as consumers migrated to online shopping during the pandemic. Revenues for the three months ended on June 30 declined by 7.6 percent from the year-ago quarter to $331.5 million, or by 6.0 percent on ...
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ArticleFerragamo sales improve in July after plummeting in Q2
Salvatore Ferragamo’s first-half sales amounted to €376.5 million, declining by 46.6 percent year-on-year on a reported basis and by 46.9 percent at constant currency rates. In the second quarter, revenues were down by 60.1 percent at current exchange rates and by 59.4 percent in local currencies when the impact of ...
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News briefs
Timberland hires new VP of global marketing
Timberland hired Drieke Leenknegt in June to be its vice president of global marketing and join its global leadership team. She is succeeding Argu Secilmis, who has become vice president of global apparel. Leenknegt will be liaising with the brand’s marketing regional teams, in the Americas, Asia-Pacific and Europe, the ...
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News briefs
Moda Made in Italy show cancelled
The Moda Made in Italy footwear trade show, that was scheduled to be held Sept. 27-29 in Munich has been cancelled. The March edition of the show had already been abandoned due to the Covid-19 pandemic. The Italian footwear association, Assocalzaturifici, which organizes the event, said that it will continue ...
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News briefs
Santoni to open a store in Milan
Santoni will open a store in Galleria Vittorio Emanuele, Milan’s iconic shopping arcade, which faces the city’s cathedal. In a public tender, the Italian manufacturer of luxury shoes offered to pay an annual rent of €589,000 for the 60-square meter store, which was previously occupied by the Italian fashion brand ...
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ArticlePrada first-half sales down by 40 percent
The Italian fashion house Prada posted first-half sales of €938 million, down by 40 percent at constant currency rates, as 40 percent of its retail network was closed on average from February to May, reaching a peak of 70 percent in April due to coronavirus-related lockdowns. Global retail sales were ...
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ArticleFootwear production is on the rise, while retailers review their strategy
Footwear manufacturers have returned to production levels ranging from an estimated 50-80 percent in India, China and Portugal after the havoc caused by the Covid-19 pandemic. But the outlook remains uncertain and the crisis has led some players to rethink distribution and retailing.
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News briefs
Canada Goose sends a signal with strategic hire of GM Footwear
Canada Goose appointed Adam Meek to the new role of general manager of footwear & accessories. Meek brings more than 20 years of global footwear experience to this role. Most recently, he served as senior vice president of product at Sperry (Wolverine Worldwide), where he led global product teams in ...
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News briefs
OLG signs five-year license agreement with Elie Saab
Onward Luxury Group (OLG) has signed a five-year licensing agreement with the Lebanese luxury brand Elie Saab for the production and distribution of footwear and leathergoods. The new collections will be available for the spring/summer 2021 season. OLG recently obtained the license for Elie Saab’s ready-to-wear. The first collection will ...
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News briefs
Rumbo has gone into administration
Rumbo has entered into a voluntary arrangement with creditors in an effort to reorganize its business. According to La Verdad, which first reported the news, the case is being processed by the Commercial Court 1 of Murcia, in southeastern Spain, where the multi-brand shoe retail group is headquartered. The legal ...
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ArticleVögele Shoes goes multichannel, focuses on digitalization
Swiss footwear retailer Vögele Shoes is revising its strategy and organization in a bid to reposition itself as an omnichannel retailer and cater to its customers’ needs through a data-driven approach and a wide range of digital touchpoints. During the Covid-19 related lockdown, Karl Vögele AG, which owns the banners ...
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Article
LVMH first-half revenues down by 27%
LVMH’s first-half revenues fell by 27 percent to €18,393 million, with organic sales declining by 28 percent, due to the impact of the Covid-19 pandemic. The French luxury goods group has observed strong signs of an upturn in activity since June, but remains “very vigilant” for the rest of the ...
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News briefs
Showroomprivé launches €10 million capital increase
Showroomprivé, a French online retailer specializing in flash sales, launched a €10 million rights issue guaranteed by its founders David Dayan and Thierry Petit. The proceeds will finance the company’s general expenses. As of May 31, its net cash was €12.7 million. Shareholders can obtain 22 new shares for 17 ...
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News briefs
Ferragamo obtains €250 million financing for ESG objectives
Salvatore Ferragamo has reached a €250 million financing agreement with the leading Italian bank Intesa Sanpaolo to fund environmental, social and governance (ESG) objectives as well as general cash flow needs. The financing is composed of a €125 million term loan credit line expiring in 2025 and a €125 million ...
