Product & Marketing – Page 47
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ArticleBoot Barn raises FY guidance as the CEO prepares to leave
Boot Barn said it was off to a “solid start” in its fiscal third quarter and raised its guidance for the full year in the wake of better-than-expected results for the second quarter ended Sept. 28. The strong showing came as Jim Conroy, the CEO and President, announced he was ...
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Yue Yuen sees full-year net profit up by 140-145%
Yue Yuen expects its attributable net profit to increase by 140 percent to 145 percent in the first nine months of 2024, compared to the $137.7 million posted a year earlier. In the first half of 2024, the world’s largest footwear manufacturer saw the profit attributable to company owners grow ...
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German consumer sentiment improves
In November, German consumer sentiment is expected to improve to -18.3 points from -21.0 points in October, according to a survey published jointly by GfK and the Nuremberg Institute for Market Decisions (NIM). The preliminary reading for October was -21.2 points. “Following the slight improvement in the previous month, the ...
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ArticleVF Corp.’s turnaround continues to take shape
VF Corp. continues to make progress on its turnaround plan, delivering sequential sales improvement, a year-over-year increase in gross margin, and a 13 percent reduction in inventories in the second quarter that ended September 30.
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ArticleDeichmann acquires the footwear rights of the Esprit brand
Deichmann has struck a deal to acquire the rights to Esprit’s footwear brand in Europe and the United States, marking a key step in the restructuring of the bankrupt fashion brand. The acquisition only pertains to Esprit’s shoe trademark rights – which Deichmann sees as a valuable addition to its ...
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Ochsner Shoes opens a redesigned flagship store in Zurich
The Swiss shoe retailer Ochsner Shoes has reopened its modernized flagship store on Zurich’s Bahnhofplatz, featuring open, light-filled spaces with natural wooden elements. Product display is enhanced by digital features such as screens and Bita Touch technology, which fit into the overall store concept, providing customers with additional information ...
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Permira buys a 40% stake in K-Way
Permira, the private equity that owns an 83 percent stake in Golden Goose, the Italian brand of premium sneakers, has entered into an agreement to buy a 40 percent stake in K-Way from BasicNet. BasicNet will retain a 60 percent stake in the brand known for its waterproof jackets. The ...
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Baffin launches protective footwear range for first responders
Baffin launched the Hero Collection, a protective footwear range designed specifically for technical and emergency services. The collection debuts the Ice Hero, available with a safety toe and plate or plain toe, in men’s and women’s sizes. The Hero Collection is available through Baffin.com and retailers across North America. ...
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ArticleSkechers sees India rebound as China stumbles in Q3
Skechers’ revenues in India jumped by 24 percent in the third quarter of 2024, rebounding after suffering in the previous quarter in the face of changing regulatory requirements, while sales in the Chinese market declined by 5.7 percent to $252.4 million as an economic slowdown in that market affects consumer ...
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News briefs
OrthoLite hires a new Vice President of Operational Excellence
The US-based insole specialist OrthoLite hired Raj Santhana as the new Vice President of Operational Excellence. He will be responsible for OrthoLite’s manufacturing excellence and innovation, as well as automation and digital transformation. He will work closely with the company’s Global Foam Innovation Team in a new satellite office located ...
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Alaïa’s fishnet ballet flats rated the hottest fashion product in Q3
Alaïa’s fishnet ballet flats were the hottest fashion product in the third quarter, according to The Lyst Index. “Hero Alaïa products are holding their cachet; well over a year since the mighty Alaïa flats first appeared in the Hottest Products ranking in Q2 2023, the fishnet style is this quarter’s ...
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ArticleCapri and Tapestry’s merger blocked by a US court
A US judge has blocked an $8.5 billion planned merger between the luxury goods groups Capri Holdings and Tapestry. Capri owns the luxury footwear brand Jimmy Choo as well as the fashion labels Versace and Michael Kors. Meanwhile, Tapestry owns the premium footwear group Stuart Weitzman and the fashion brands ...
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ArticleDeckers raises guidance as Hoka continues to shine in better-than-expected Q2
Deckers Outdoor raised sales and profit guidance for its full financial year as growth at its Hoka brand accelerated and it announced better-than-expected group results in the second quarter ended Sept. 30. Second-quarter revenues increased by 20.1 percent to $1.31 billion, above a $1.20 billion analyst consensus, with growth continuing ...
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ArticleFrasers urges to appoint its owner to run Boohoo
Frasers is urging Boohoo to appoint Mike Ashley as a director and CEO and name Mike Lennon, a restructuring specialist, as a board director. Ashley controls the UK sportswear retailer Frasers, which in turn is Boohoo’s largest shareholder with an about 27 percent stake. In an open letter sent to ...
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Hermès’ sales up over 10% in Q3
Hermès generated sales of €3.704 billion in the third quarter of 2024, up by 10.1 percent on a reported basis and 11.3 percent at constant exchange rates. All regions showed growth, despite a “particularly high” comparison base in Europe and Asia Pacific. In the first nine months of the year, ...
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Leder & Schuh opens three new stores
The Austrian shoe retailer Leder & Schuh is continuing its expansion with the opening of three new stores. On Oct. 3, two Humanic shops were launched, one in the Eisenstadt shopping center in the Burgenland region of Austria and in the HEY! Steyr shopping center in Steyr, Upper Austria, ...
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ArticleDecline in retail space in Austria accelerates, with footwear among the worst hit
Austria is losing retail space at an increasing pace, with a decline observed over the last decade accelerating in the past two years, and the footwear retail sector is among the worst hit, a survey from market researcher RegioData showed. Companies are less inclined to expand, some are downsizing ...
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ArticlePajar Canada buys Cougar Shoes
The Canadian footwear group Pajar Canada bought its peer Cougar Shoes. No financial details were released, but Pajar described the acquisition as a “significant milestone.” Thanks to the takeover, Cougar shoes will be able to leverage the group’s “combined expertise to create unique products that resonate with both longstanding ...
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Ghost raises $40 million in funding
The private B2B marketplace for worldwide brands, Ghost, has raised $40 million in Series C funding. The funding was led by L Catterton, with participation from existing investors USV, Cathay Innovation, Equal Ventures, and Eniac, a private B2B marketplace for global brands to sell excess inventory to new buyers. Ghost’s ...
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ArticleHow an Italian 3D scanner manufacturer has stormed the footwear industry
The startup Covision Media decided to initially focus on the footwear industry to commercialize its 3D scanner developed in Bressanone, near the northern Italian town of Bolzano. The company, which was founded on Feb. 9, 2024, after having spun off from the technology group Covision Lab, currently has a slate ...
