SBTi approves eBay’s ambitious climate action goal
eBay’s ambitious greenhouse gas (GHG) reduction targets were approved by the Science Based Targets initiative (SBTi). The U.S. e-commerce company commits to cut its own (scope 1 and scope 2) emissions by 90 percent by 2030 from a 2019 base year, in line with limiting global temperature warming to 1.5°C ...
Chinese power crunch adds to viral and shipping problems
Alarming new reports are coming in about serious shortages of components and finished products made in China, which may prevent brands, distributors and retailers in all the sectors to respond to a surge in post-pandemic demand ahead of the critical Christmas selling season.
LVMH fashion and leather goods organic sales up 57%
Organic sales of the fashion and leathergoods division of the French luxury goods conglomerate LVMH rose by 57 percent year-over-year in the first nine months of 2021. On a reported basis, sales for the division were up by 53 percent to €21.315 billion. When compared with the first nine months ...
Sequential will be able to honor its debts
The bankrupt Sequential Brands Group is now expected to be able to pay its $435.1 million in liabilities through the auction of its assets. With You, a company that owns a 37.5 percent interest in the Jessica Simpson brand, has launched a bid for the remaining shares owned by SQBG ...
Adidas loses appeal about H&M’s two stripes
Ending a trademark dispute that began in 1997, the Dutch Supreme Court has dismissed an appeal by Adidas against a lower court’s ruling that a two-stripe logo used by Hennes & Mauritz did not infringe on its iconic Three Stripes. A key factor in H&M’s success was a market research ...
NURVV Run gets help to develop its smart insole
NURVV Run, the six-year-old, London-based developer of running wearables, has received an award for funding and intensive mentoring for its next phase of research on smart insoles from the creative R&D program of Business of Fashion, Textiles and Technology (BFTT). As a result, it will have access this year and ...
Vietnam woes penalize Yue Yuen and other producers
Yue Yuen’s revenues were down by 24 percent to $541.5 million year-on-year in September, with decreases of 22 percent in manufacturing and 25 percent at retail. Total revenues were still up by 6 percent to $6.44 billion for the first nine months of this year. The company relies on Vietnam ...
VF and WaterAid partner to vaccinate Cambodians
In an effort to protect workers’ health and keep the supply chain steady, VF is supporting the distribution of Covid-19 vaccines in Cambodia. VF’s Worker and Community Development program, partnering with the nonprofit WaterAid to support the rollout of the Cambodian government’s Covid-19 response plan. More than 20,000 factory workers ...
ILO adopts code of practice for shoe and apparel manufacturing
To provide a practical basis for employers, workers and governments to work together to advance an occupational safety and health (OSH) prevention culture in the textile, clothing, leather and footwear manufacturing sector, the International Labour Organization (ILO) has worked out its first code of practice on safety and health for ...
Boohoo relaunches Debenhams e-commerce platform
Boohoo, the British fast-fashion online retailer that bought the brand name and the e-commerce operations of the Debenhams department store chain in January, is using it now to launch what it claims will be the biggest national online marketplace for sporting goods as well as fashion, cosmetics and household items. ...
Shoe Zone expects to be profitable but warns on costs, supplies
The U.K. footwear retailer Shoe Zone expects to swing to an annual profit, but warned that Covid-19, supply-chain and inflationary issues still present challenges over the next 12 months.
Ferragamo hires 2 new managers
The Italian fashion company Salvatore Ferragamo has bolstered its management structure for North America and the EMEA region, with the nomination of two new managers.
LionRock bought 51% of Clarks for £1
The Hong Kong-based private equity firm LionRock Capital paid £1 (€1.2-$1.4) for a 51 percent stake in Clarks, when it took over the British footwear company earlier this year, according to documents filed with the British registrar of companies, Companies House.
Allbirds revises IPO terms
Allbirds has revised its proposals for an initial public offering (IPO). When the California-based B Corp producer of sustainable sneakers, filed its IPO application with the U.S. Securities and Exchange Commission it announced that it was planning to go for the first “Sustainable Public Offering,” or SPO, pledging to ...
Asos CEO quits as rising costs lead to profits warning
The chief executive of Asos, Nick Beighton, is departing the British online fashion retailer in a shock move as the company issued a profits warning, citing supply chain issues and rising costs. Asos is facing “notable cost headwinds” including inbound freight fees, wage inflation, outbound delivery costs and Brexit duty.
Aquafil buys a Norwegian firm collecting discarded fishing nets
The Italian yarn producer Aquafil has acquired a 32 percent stake in the Norwegian company Nofir, which collects and recycles discarded equipment from fishing and fish farming. Since 2011, Nofir has collected over 48,000 tonnes in fishing networks from 20 countries.
Eco shoes label Inuikii launches at Selfridges
This fall, London’s high-end department store Selfridges is set to join a number of other top-name outlets throughout Europe, including Galeries Lafayette in Paris, in carrying Swiss sustainable luxury footwear brand Inuikii.
Tod’s’ CEO leaves
The Italian footwear company Tod’s cuts the number of co-CEOs from three to two, resulting in the departure of Umberto Macchi di Cellere after four years in the job.
Tamaris and Jana Shoes to collaborate on new collection
From the autumn/winter 2022/23 season, Tamaris, the main brand of the German footwear company Wortmann Group, will collaborate with its sister company Jana Shoes, which specializes in comfort shoes, to develop Tamaris’ new comfort collection.
Vögele Shoes hires a purchasing, marketing head
The Swiss footwear retailer Karl Vögele AG (KVAG), which operates the banners Vögele Shoes, Bingo and Max Shoes, has hired Timm Jacob as head of purchasing and marketing and joins the senior management team along with the chairman Christan Müller and the CEO and chief financial officer Max Bertschinger.