Product & Marketing – Page 98
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News briefs
Frasers hikes its stake in Boohoo to 13.44%
The British retailing group Frasers Group has further increased its stake in the online fashion retailer Boohoo to 13.44 percent from 10.42 percent, according to a filing with the London Stock Exchange. Frasers has been building up a stake in Boohoo. At the end of August and early September, it ...
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News briefs
ACI International extends its licensing agreement with Perry Ellis International
ACI International, a manufacturer and marketer of footwear in the U.S. and Canada, has extended its license agreement with Perry Ellis International (PEI) to include a men and boys’ footwear line under the Original Penguin brand. The agreement marks the continuation of PEI’s 16-year relationship with ACI, which currently produces ...
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News briefs
Coats appoints a new board member
Coats Group, the British manufacturer of industrial thread and footwear components, said that Sarah Highfield will join its board as a non-executive director, effective Nov. 1. In addition, she will join the audit and risk committee, as chair designate, and the nomination committee. Highfield will succeed Nicholas Bull as chair ...
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ArticleRussia mulls creating footwear clusters to boost local production
The Russian government is discussing the establishment of footwear clusters in the European part of the country, aiming to meet at least 10 percent of domestic demand. The clusters are planned in the Dagestan Republic, Rostov and Moscow province, or oblast, the Russian newspaper Izvestia reported, citing sources close to ...
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News briefs
Carbios inaugurates textile recycling facility in France
Green biotech company Carbios inaugurated its new textile preparation plant, a major innovation in polyester recycling, at the company’s demonstration facility in Clermont-Ferrand, France, on Oct. 2, 2023, in the presence of French Industry Minister Roland Lescure. To optimize the preparation of textiles for recycling, Carbios has developed a fully ...
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ArticleThe stocks of footwear companies continued to be under pressure in Q3
The prices of stocks monitored by Shoe Intelligence fell by 7 percent on average in the third quarter of 2023 compared with the previous three months amid ongoing concern about the economic outlook due to weak demand, higher interest rates and stubborn inflation. In the second quarter, the panel was ...
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ArticleSpartoo’s H1 sales decline but earnings improve
In the first half of 2023, Spartoo saw its gross merchandise value (GMV) decrease by 2.6 percent compared to the year earlier to €101.6 million and revenues excluding value-added tax slipped to €72.9 million from €73.9 million. The percentage of GMV generated by brands owned by the French retailer increased ...
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News briefs
Kamik celebrates 125 years
Founded in October 1989, Kamik, a Canadian footwear and apparel manufacturer, is celebrating its 125th anniversary with a fully redesigned website and a special refresh of the collection introducing new materials, colors, and patterns to some of its classic pillar styles including the Sienna 3. The company is also holding ...
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ArticleBoohoo cuts its sales guidance
Boohoo has warned that full-year sales are likely to fall more than expected after a weak first half of the fiscal year. The British online fashion retailer said that in the six months to Aug. 31 revenues fell by 17 percent year-on-year to £729.1 million (€841.2m), with domestic sales down ...
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News briefs
Wolverine Boots celebrates 140 years by selling 140 pairs at $1.40
Wolverine Boots is celebrating 140 years by giving 140 people the opportunity to purchase the 140th-anniversary 1000 Mile Boot for just $1.40 a pair. From Sept. 29 to Oct.16 customers are invited to visit wolverine.com/140. Winners will be notified on Oct. 24 and given priority access to purchase. The remaining ...
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ArticleBirkenstock valued up to $9.2bn in IPO
Birkenstock has set a value of up to $9.2 billion at the top end of the price range for its initial public offering (IPO), or more than seven times its annual sales. Birkenstock Holding Limited, which is registered in Jersey and has its headquarters in London, has filed for an ...
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News briefs
Meta reportedly planning to launch paid versions of Facebook and Instagram
Meta is planning to launch a subscription service for ad-free Facebook and Instagram in Europe, according to a report in the Wall Street Journal. The newspaper said the proposal has been made to regulators in recent weeks as it seeks a way to handle European Union rules that threaten to ...
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News briefs
Ecco USA names a new president
Ecco USA has appointed Deniz Erda as interim president replacing Tom Berry. Erda was previously senior vice president and general manager for Ecco Middle East and Africa. Berry had joined the company in January 2022 as president and CEO. “The U.S. remains a key market for Ecco. This change demonstrates ...
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News briefs
Stuart Weitzman launches a men’s collection
Stuart Weitzman, the premium footwear brand of the U.S. fashion group Tapestry, is launching its first collection of men’s shoes. The collection will be available in February for the spring/summer 2024 seaon. The collection will consist of four segments - Premiere, Club, Resort and Sport - and will be distributed ...
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ArticleHow a Malaysian shoemaker is hedging the China risk and trying to expand in the U.S. and Europe
Sweetkiss Shoes Footwear Co., a Malaysian incorporated footwear group known for its Dr Shooz brand, launched a new factory in Ho Chi Minh City, Vietnam, in July 2023 to supplement its Chinese facility, which is located in Guangzhou and has been operational since November 2012. Source: Sweetkiss Shoes ...
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News briefs
Cougar Shoes launches a collection with Michelin soles
Cougar Shoes, a Canadian footwear brand, has launched a winter collection featuring Michelin soles. The collaboration delivers footwear that is designed for women and made for ”real outdoor performance,” Cougar Shoes said in a statement, noting that the boots are temperature rated to - 40°C/-40°F. “I am so excited to ...
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News briefs
Nike brand Q1 footwear sales up by 3.8%
Nike reported a 10 percent Ebit decline in the first quarter ended Aug. 31 to $1.65 billion on a 2 percent revenue expansion to $12.94 billion. Ebit margin dipped 2.00 percentage points to 12.5 percent from 14.5 percent in the year-ago period and fell in all geographic regions except ...
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ArticleReno completes partial restructuring but creditors’ claims triple
The ailing German shoe retailer Reno has completed a partial restructuring, the insolvency administrator said. “It is a positive development for a procedure that initially offered little hope of an even remotely satisfactory result,” Immo Hamer von Valtier from the InsoTreu law firm said in a statement. “By ...
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ArticleC & J Clark International hit by post-Covid supply issues, but group results step ahead
C & J Clark International reported lower turnover and profits last calendar year as post-Covid pandemic supply chain issues hit stock availability. The company is the unit of the Clarks group that manages the activities in the U.K., all of the wholesale business in Asia as well as some of ...
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News briefs
Zalando creates VP of creative direction role
Zalando has appointed Morten Grubak as vice president of creative direction, effective Oct. 1. Grubak will be responsible for the creative direction of the Zalando brand in the newly created role. Grubak, who joins from the Vice Media Group where he led the group’s Global Innovation Lab (part of the ...
