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In the second quarter, CCC, the international Polish-based shoe manufacturer and retailer, saw its online sales nearly match those posted by its physical stores due to the impact of the Covid-19 pandemic and the subsequent lockdowns. Nevertheless, the surge of the e-commerce business did not fully offset the slump in ...
Sellpy, the Swedish online second-hand retailing service owned at about 70 percent by H&M, is being launched in Germany, marking its first move outside its domestic market.
The U.S. fashion group Capri Holdings, that owns Jimmy Choo, Michael Kors and Versace, posted a net loss of $551 million in the fourth fiscal quarter ended on March 28 compared to a net income of $19 million in the prior year. The bottom line was hit by $635 million ...
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Nike takes the top spot among fashion brands in the top 100 of the BrandZ ranking of the world’s most valuable brands, released by WPP and Kantar. It is followed by two European brands, Zara and Adidas.
Nice Footwear is launching a €3 million bond with an annual interest rate of 4.375 percent and a six-year maturity. The bonds, which have a face value of €100,000 each, will be traded on the Milan stock exchange. Under the terms of the transaction, the Italian company has the right ...
A Grenoble-based commercial court is expected to decide on July 24 on the future of the footwear chain André, which is currently in receivership. It filed for bankruptcy on March 23 after its owner Spartoo was unable to obtain sufficient financing to continue the business.
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Vincent Wauters, the former president of Arc’teryx who became the chief executive of Hunter Boot Ltd in 2016, will be stepping down “by mutual agreement” at the end of July to pursue new opportunities, said the Edinburgh-based company, adding that it is launching a “strategic review” of its operations.
Salvatore Ferragamo reformed its corporate governance and appointed its former chief executive Michele Norsa, 71, as executive deputy chairman, rekindling speculation of a possible change of ownership.
Asos raised £247 million pounds (€281m-$308m) with the placement of 15,805,943 new ordinary shares. The British online fashion retailer said that the cash call was intended to protect it against a prolonged downturn stemming from the current Covid-19 pandemic and to position the business for long-term growth.
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American footwear retailers are gradually reopening with the staggered lifting of the lockdown in the U.S., but local consumers have expressed unease about shopping as the country continues to be affected by the Covid-19 pandemic.
Global sales of luxury goods are forecast to fall by 20 percent this year, with Europe most affected. It could take until 2023 to return to 2019 levels, according to forecasts by Altagamma and the consultancy Bain & Company.
Consumers are reducing spending on non-essential goods such as apparel and footwear because of Covid-19, but they are making more use of the internet for their purchase during the lockdown, developing new habits and creating new opportunities for the brands, based on research conducted by McKinsey & Company.
The personal luxury goods sector is set to pay a heavy price in 2020 because of the coronavirus pandemic. According to the findings of a survey by Boston Consulting Group (BCG) and Bernstein, Covid-19 could wipe out almost a third of the sector’s market value, estimated to have grown to ...
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