Product & Marketing – Page 41
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News briefs
Sabu appoints new senior buyer
The German shoe retail cooperative Sabu has hired a new senior buyer. Marc Meyer took on the new role on Dec. 1 and is now responsible for supplier partnership management, collection sourcing, purchasing analysis and the creation of Sabu programs and ordering recommendations for the Sabu stores, the cooperative said ...
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News briefs
German GDP growth seen weak in 2025
Germany’s calendar-adjusted gross domestic product (GDP) is now expected to rise just 0.2 percent in 2025 after a projected 0.2 percent decline this year, according to the latest bi-annual forecasts from the Bundesbank, the German central bank. In its previous forecast released in July, the Bundesbank forecast GDP growth of ...
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News briefs
Steve’s raises over €187,000 in its crowdfunding campaign
Steve’s, an Italian producer of sustainable premium sneakers, raised €187,328 in a crowdfunding campaign that closed on Oct. 24 thanks to the contribution of 51 investors. The startup was seeking to raise between €100,000 and €300,000 through the Mamacrowd platform. Founded in 2022 in Turin by Giulia Gandini and Filippo ...
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News briefs
Shoe Carnival renews its share buyback program
Shoe Carnival’s board authorized a new share repurchase program of up to $50 million in common stock, effective Jan. 1. It replaces a $50 million share buyback program that was authorized on Dec. 14, 2023, and expires on Dec. 31, 2024. The board also approved the payment of a quarterly ...
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ArticleDesigner Brands continues to ‘de-weatherize‘ business as Q3 boot sales slump 27%
Designer Brands said it would continue to take steps to reduce its reliance on seasonal footwear after sales of boots slumped 27 percent in the third quarter ended Nov. 2, nearly double the 15 percent decline it had forecast. Slumping boot sales came amid unseasonably warm weather in September and ...
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News briefs
Inditex’s sales grow less than expected
In the first nine months to Oct. 30, Inditex’s sales grew by 7.1 percent to €27.4 billion, but missed market expectations. At constant-currency rates, the top line rose by 10.5 percent. In the sole third quarter, the top line came in at €9.4 billion against expectations of €9.5 billion. Gross ...
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ArticleSwiss online retail sales set to hit a new record high
Online retail in Switzerland is set to hit a record high this year, with significant changes in consumer behavior, while Chinese e-commerce players are steadily on the rise. Footwear is following the same trend, according to a survey conducted by the University of St. Gallen among 1,334 people in the ...
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ArticleZalando to take over About You
As part of its plans to create a pan-European e-commerce platform, German online retailer Zalando is acquiring the fashion group About You for €1.1 billion. Volker Bosse, a financial analyst at Baader Helvea Equity Research, noted that from ”a market perspective, it is a bold consolidation step in the ...
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ArticleOnline spending up sharply among young Germans
Young German consumers are spending significantly more online, with influencers shaping their choices more and more, and social shopping likely to remain a key driver of online retail growth, according to a survey conducted by Postbank among 1,000 young people between the ages of 16 and 18. In the ...
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News briefs
Primark plans to double its store network in Italy by 2030
Primark plans to invest €150 million in Italy by 2030 in order to double its store network to about 34 to 35 locations. The investment is expected to create some 2,500 jobs. With the opening on Dec. 12 of a store in Pontecagnano Faiano, in the southern province of Salerno, ...
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News briefs
Merrell hires a new Chief Product Officer as it expands into lifestyle
Merrell, the hiking and outdoor footwear brand owned by Wolverine Worldwide, hired Noreen Naroo-Pucci as Chief Product Officer to lead its expansion into the lifestyle segment. “As a global thinker and executive with multi-cultural experience, Naroo-Pucci will apply her skills to Merrell’s expansion as a lifestyle brand. Merrell’s strategic move ...
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ArticleEcco has a new CEO
Ecco’s CEO, Panos Mytaros, has stepped down and been replaced by the group’s Chief Commercial Officer, Thomas Gøgsig. No explanation was given regarding the change at the helm. However, since Russia’s invasion of Ukraine on Feb. 24, 2022, the Danish footwear group has been criticized by the country’s Prime Minister, ...
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ArticleGenesco more optimistic on outlook as Journeys turnaround gains pace
Genesco raised its sales and earnings guidance for its 2025 fiscal year, as the turnaround of its Journeys division accelerates, offsetting softer demand and a more cautious outlook for its Schuh and Johnston & Murphy businesses. Management now expects group sales for the full year to be flat to down ...
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ArticleCaleres cuts earnings guidance, sees more balanced international growth
Caleres once again cut its sales and earnings guidance for its full fiscal year, after a slump in boot sales made the biggest contribution to disappointing financial results for the third quarter ended Nov. 2. Third-quarter sales fell by 2.8 percent to reach $740.9 million, worse than the company’s guidance ...
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ArticleEmerging designer: CB Made in Italy seeks slow and steady growth
While their store in Via Santo Spirito in Florence may just be a mere 40 square metres (430 square feet), CB Made in Italy is brimming with ideas and plans for the future. The brainchild of Cecilia Bringheli and Sibilla De Vuono, CB Made in Italy offers a limited number ...
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News briefs
ThredUp sells its European business Remix
The US-based resale platform ThredUp has entered into a binding agreement to sell its European business, Remix, in a management buyout led by Florin Filote, the General Manager of Remix. The sale closed simultaneously with the signing of the agreement. Before the closing of the transaction, Remix received a final ...
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ArticleEU and Mercosur conclude free trade agreement talks
After 25 years of negotiations, the European Union and Mercosur countries have concluded talks on a free trade agreement, according to Ursula von der Leyen, the President of the European Commission. ”We have concluded the negotiations for the EU-Mercosur agreement. It marks the beginning of a new story. I now ...
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ArticleFuture Fashion winds down DIS
The Italian footwear brand DIS will stop operating on Dec. 31, 2024 after its parent company Future Fashion decided to close down the loss-making business. Created in June 2015, DIS, which stands for Design Italian Shoes, offered customized footwear through online sales or dedicated corners in third party stores. DIS ...
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News briefs
EU-Mercosur free trade deal “in sight”
A free trade agreement between the European Union and Mercosur countries is “in sight” after 25 years of negotiations, according to Ursula von der Leyen, the President of the European Commission. “Touchdown in Latin America. The finish line of the EU-Mercosur agreement is in sight. Let’s work, let’s cross it. ...
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News briefs
Ferragamo expects €70-90m in impairments
Salvatore Ferragamo expects to book between €70 million and €90 million in asset write-downs on its 2024 results due to the slowdown affecting the luxury goods market. The final amount of the write-downs will be defined during an impairment test to be made by March 2025. The impairments will not ...
