Zalando increases its fleet of Magazino robots
Zalando has purchased 29 additional order picking robots from the German start-up Magazino, increasing its fleet to 57 units.
VF Corp. maps out growth strategy, trims FY23 outlook
VF Corp., which counts a dozen brands in its portfolio, is targeting a five-year compounded annual revenue growth rate in the mid-to high single digits, earnings per share expansion of high single to low double digits and an operating margin of approximately 15 percent by FY27. The U.S. parent of ...
Birkenstock to invest €110m in Pasewalk plant
Birkenstock now expects to invest about €110 million in its new German production site in Pasewalk, scheduled to come on stream in autumn 2023. The investment is a record for the company and significantly above the initial estimate for the project.
Boohoo issues profit warning as H1 sales slump, product returns increase
Boohoo has issued a profit and sales warning after a 10 percent fall in first-half revenues driven by the cost-of-living crisis.
Consumer and business sentiment sinks in Europe
Consumer confidence continues to decline significantly in Europe due to rising inflation, an erosion in purchasing power and concern about the future due to a worsening of the macroeconomic environment and rising geopolitical tension following Russia’s invasion of Ukraine on Feb. 24.
Burberry hires a new chief creative officer
Burberry has appointed Daniel Lee as its new chief creative officer. He will join the company on Oct. 3 reporting to chief executive Jonathan Akeroyd.
How reshoring to Spain is being hampered by labor and capacity shortage
Demand to reshore footwear manufacturing from Asia to Southern Europe, and especially to Spain, is growing, but the Iberian country is lacking the capacity needed to significantly boost production, while exports of Spanish made shoes are back to pre-pandemic levels.
Sales of Russian e-tailers surge
Russian online marketplaces are continuing to enjoy a surge in sales. Wildberries, Ozon, AliExpress Russia, SberMegaMarket and Yandex.Market jointly processed 400 million orders in the second quarter of 2022, up by 80 percent year-over-year. In value, turnover hit an all-time quarterly high of 500 billion rubles (€8.2bn), Moscow-based analytical agency ...
Vapesol launches soles made from factory waste of nitril gloves
The Portuguese company Vapesol, which manufactures more than five million pairs of soles yearly (according to its website), has teamed with the nitril glove company Raclac to produce of footwear soles from industrial waste. Raclac claims to be the only manufacturer of nitril examination gloves in Europe. Waste from its ...
NFW Footwear Collective is growing
New Balance and Wolverine Worldwide have joined Natural Fiber Welding’s Footwear Collective, a cooperative platform aiming to reduce the environmental impact of footwear across the value chain. Curect members include Allbirds, Camper, Deckers and Ralph Lauren.
Pittards sees ‘strong’ order book after H1 sales rise 7%
Pittards, the British leather and leather goods company, posted revenues in the first half ended June 30 of £10.4 million (€11.7m), up by 7 percent on the year earlier, as its sales order book remained “strong” across market sectors.
Italian shoemakers start using the VCS self-assessment ESG program
VCS (Verified & Certified Steps), a software package allowing the self-assessment of environmental, social and governance (ESG) performances launched by Assocalzaturifici, the Italian footwear association, is currently being tested by three Italian shoemakers.
German shoemakers concerned about the future despite H1 rebound
Despite a strong rebound in domestic and foreign sales in the first half of 2022, German shoemakers are concerned about the business environment due to growing inflation and the erosion of the purchasing power of consumers.
San Marina placed into receivership
The French footwear retailer San Marina was placed under controlled administration, or receivership, on Sept. 22 at its request by a Marseille-based commercial court.
Micam and sister fairs attract 35,470 visitors
The September edition of Micam, along with the three shows held with the Milan-based footwear trade fair, attracted 35,470 visitors, up by 20 percent from the event held in March 2022. Micam highlighted that there was strong presence of visitors from Spain, France and Germany as well as of buyers ...
U.K. to introduce VAT-free shopping for foreigners
During the presentation of new budgetary measures, Kwasi Kwarteng, the U.K.’s newly appointed finance minister, officially referred to as the chancellor of the exchequer, said that the government has decided to introduce VAT-free shopping for overseas visitors.
Tod’s’ minority shareholder buyout to start on Sept. 26
DeVa Finance, which is controlled by DI.VI. Finanziaria di Diego Della Valle & C, announced that its offer to buy out Tod’s’ minority shareholders will run from Sept. 26 to Oct. 25.
U.K. consumer confidence at record low - GfK
In September, consumer confidence in the U.K. fell to -49, the worst overall index score since records began in 1974, and down from -44 in August and -13 a year ago, according to the latest survey released by market research firm GfK.
FedEx to hike rates from Jan. 2
FedEx said its FedEx Express, FedEx Ground and FedEx Home Delivery will increase rates by an average of 6.9 percent effective January 2, 2023 as the the U.S. courier service tries to align costs with demand.
Turkish lira falls to record low against the dollar
The Turkish lira fell to a record low against the U.S. dollar after the Turkish central bank cut its policy rate, the one-week repo auction rate, to 12 percent from a previous 13 percent, as it pointed to a global economic slowdown and the increased risk of recession.