Yue Yuen’s profit, sales slip in 2023
Yue Yuen, the globe’s largest manufacturer of footwear, suffered a down year in 2023 due to inventory de-stocking by retailers worldwide and conservative ordering by its portfolio of brand clients that include Nike, Adidas, Asics and New Balance, among others.
Zalando aims to resume growth and cover 15% of the European fashion market
Zalando posted lower sales in 2023 but expects to at least stabilize revenues this year and resume growth from 2025. The German online fashion group also outlined its long-term plans to cover 15 percent of the European fashion market.
Inditex posts record full-year sales and earnings
Inditex posted record sales and earnings in the full year ended Jan. 31 and announced an extraordinary plan to invest €1.8 billion over the next two years to increase its logistics capacities.
Shoepassion’s creditors clear its restructuring plan
Shoepassion’s creditors have cleared its restructuring plan, the insolvent Berlin-based footwear company said. The plan was confirmed by the Berlin-Charlottenburg district court.
Style Capital snaps up Autry, launches retail expansion plan
The Italian private equity group Style Capital has acquired a 50.2 percent stake in Autry International, the owner of the Italian sneakers brand Autry, and announced a retail expansion plan that will see the opening of more than 20 Autry brand stores in luxury shopping destinations in Italy and abroad.
Former Görtz CEO Frank Revermann takes over Onygo
Görtz’s former CEO Frank Revermann took over Deichmann’s sneaker and streetwear subsidiary Onygo, said the former parent company confirming media reports.
Allbirds names a new CEO as losses continue to grow
Allbirds appointed its chief operating officer, Joe Vernachio, as its new CEO and member of the board of directors, effective March 15. He succeeds Joey Zwillinger, the co-founder and CEO, who will continue to serve as a member of the board and as a special advisor to the company. With ...
Giovanna Ceolini confirmed president of Assocalzaturifici
On March 7, the general assembly of Assocalzaturifici confirmed Giovanna Ceolini as the president of the Italian association of footwear manufacturers until June 2027. Her mandate will focus on sustainability, digitalization, innovation, the promotion of local production, the so-called Made in Italy, enhancing the role of subcontractors and developing training, ...
VF to extend its board in agreement with Engaged Capital
VF Corporation has appointed Caroline Brown to its board in agreement with its shareholder Engaged Capital. The activist investor has been pushing for an aggressive turnaround for the US apparel and footwear company.
Spanish footwear exports rose in value but slipped in volumes in 2023
Spanish footwear exports totaled €3,260 million in 2023, up by 6.6 percent compared to the previous year when exports breached the €3 billion threshold for the first time. In 2022, exports rose by 22 percent to €3,056 million, according to data released by Fice, the Spanish footwear association.
German shoemakers expect a challenging 2024
The German footwear and leather goods industry is facing “a challenging 2024” but a turnaround is possible towards the end of the year, according to Manfred Junkert, the general manager of the German footwear and leather goods trade association, HDS/L.
Brazilian footwear exports collapse in December
In December, Brazilian footwear exports fell by 41.5 percent year-over-year in volume to 7.45 million pairs and by 33.3 percent in value to $73.44 million, according to data released by the Brazilian footwear industry association, Abicalçados.
Italian footwear companies suffer a decline in sales in the second half of 2023
After the gains posted in the first half of 2023, driven by a 13.6 percent year-over-year surge in the first quarter and a timid 1.2 percent rise in the second quarter, revenues of Italian shoe makers are estimated to have dropped by 5.8 percent year-over-year in the third quarter, according ...