Retail & Distribution – Page 12
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ArticleGeox to close 110 stores over 3 years
Geox plans to close about 110 small and less profitable stores over the next three years following net closures of 107 during 2020. The shops will be closed as leases expire in order to avoid paying penalties. The pruning is expected to reduce the company’s annual sales by €65-70 million ...
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Lloyd’s sales plummet in 2020, company launches sustainable product line
The German shoe maker Lloyd Shoes posted a 35 to 38 percent drop in revenues last year as growth in online sales failed to compensate for the losses in brick-and-mortar stores, which suffered from coronavirus-related lockdowns. As the current lockdown in Germany is set to continue at least until Feb. ...
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Zenden Group launches a new retail chain
The Russian footwear retailer Zenden Group has launched an innovative retail format called Digital Fashion Lounge, or Fage in its shortened form. The first store in the new format has been opened in the Kashirskaya Plaza shopping center in Moscow. Currently, Zenden Group operates nearly 250 stores under three retail ...
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DPD resumes U.K. road services to EU after Brexit customs delays
The parcel carrier DPD has resumed its road service from the U.K. to the European Union after resolving customs clearance problems caused by post-Brexit administration rules. The U.K. left the single market on Dec. 31, 2020. The company had suspended operations in the first week of the month and planned ...
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Unichel restructures its retail network
Russia’s biggest shoe manufacturer, Unichel, is restructuring its retail network to mitigate the impact of the Covid-19 pandemic. At the beginning of 2020, Unichel ran 600 stores in 250 cities in Russia and Kazakhstan, but last year it shut down 40 stores and opened 30 new ones, in different locations, ...
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VF reorganizes APAC operations
VF Corp. has decided to move the center of its brands’ operations in the Asia-Pacific region from Hong Kong to Shanghai, where it already has some 900 office and retail employees. Some of the operations will also be transferred to Singapore and Kuala Lumpur, the capital of Malaysia. The transition ...
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ArticleEU, UK extend Brexit trade talks in effort to avoid a “no deal”
The United Kingdom and the European Union had decided to wait until Sunday, Dec. 13 to find a compromise on a trade agreement that would go into effect on Jan. 1. But, the European Commission’s president, Ursula von der Leyen, said the negotiators will now continue to work into this ...
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ArticleObuv Rossii undergoes rebranding as it moves away from shoes
The Russian footwear retailer Obuv Rossii is changing names to mark its diversification away from shoes. The company is removing the word Obuv (meaning shoes in Russian) from its name to become simply OR for the main operating unit and OR Group for the parent company. Even the stock ticker ...
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ArticleJoya expands in Austria with Passt takeover
The Swiss brand of comfort shoes Joya has strengthened its position in the Austrian market by acquiring Passt’s six stores across the country in a bid to consolidate its retail presence and further develop the brand. Established in 2008, Passt is a retailer of comfort shoes with stores in ...
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ArticleFrasers Group in last-ditch bid to grab Debenhams
Mike Ashley’s Frasers Group has returned to the fight with a last-ditch offer for Debenhams in a bid to save the largest and oldest British department store chain from liquidation. The group, which owns the Sports Direct chain of sporting goods stores as well as another U.K. department store chain, ...
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ArticleFrance postpones start of winter clearance period to Jan. 20
The French government has postponed to Jan. 20 the start of the winter clearance period from its initial date of Jan. 6. The clearance period will last four weeks. In radio interview with RMC/BFM TV, the Economy Minister, Bruno Le Maire, added that the measure is aimed at helping small ...
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ArticlePrimark faces £430m sales loss in the autumn due to Covid resurgence
The Irish clothing retailer Primark is expected to suffer a loss of sales of some £430 million (€476.1m-$579.1m) this autumn due to the second round of local Covid-19 lockdowns, according to its parent company, Associated British Foods (ABF). The operating costs of the stores which were closed were reduced by ...
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British delivery service fears uncontrollable Black Friday
London-based delivery service ParcelHero said that it’s forecasting an £8.49bn (€9.5bn-$11.5bn) monster Black Friday to Cyber Monday weekend. It warns that stores must learn from the disaster of Black Friday 2014 or delivery chains could snap once again this year. In 2019, Britons spent a £5.55bn (€6.2bn-$7.4bn) on Black Friday-Cyber ...
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ArticleGMS affiliates suffer sales decline but outperform other German retailers
In this year’s pandemic-riddled market, affiliates of the Cologne-based shoe retailing association GMS managed to limit losses, achieving significantly better results than the national average. A survey on sales between January and September showed an average drop of 6.4 percent for GMS’s affiliates, compared with a decline of around ...
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ArticleTreksta expands in Europe, especially in the casual footwear trade
With Improve Business Scandinavia being the Scandinavian representative for Treksta since 2014, the South Korean footwear company earlier this year committed Improve Business Europe AB as European distributor for all countries except Portugal, France and Spain. The company has already signed agents for its hunting category and is now looking ...
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ArticleL.K. Bennett plans to close stores, axe jobs
Upmarket British retailer L.K. Bennett plans to close up to five stores and move its remaining shops to turnover-based rents under a proposed company voluntary arrangement (CVA). The plan will lead to a small number of job losses as the company tries to mitigate the financial impact of the Covid-19 ...
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ArticleGörtz makes its CEO a shareholder, hires a new CFO
The German footwear chain Görtz is opening its capital to its top manager as it undergoes a management shake-up and further advances its multichannel strategy by pushing its online presence. The chief executive, Frank Revermann, who has served in this position since the end of 2015, will acquire shares ...
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ArticleClarks’ landlords criticize the rescue plan’s terms
The British shoe maker Clarks has been accused of freezing landlords out of discussions over its £100 million (€110.9m-$130.0m) bailout by Hong Kong-based private equity firm LionRock Capital. Landlords are furious that despite facing large losses on rent write-offs, they will only represent 25 percent of a vote to approve ...
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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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ArticleEl Corte Inglés offers e-commerce support to third parties
The Spanish department store El Corte Inglés is in talks with 100 brands to become their e-commerce partner, according to the Spanish daily Cinco Dias. But, no deals have been struck yet, it added, citing the company. The retailer would rely on its logistics platform to guarantee all the services ...
