All Shoe Intelligence articles in Volume 22, Issue 15+16 – Page 3
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News briefs
OLG signs five-year license agreement with Elie Saab
Onward Luxury Group (OLG) has signed a five-year licensing agreement with the Lebanese luxury brand Elie Saab for the production and distribution of footwear and leathergoods. The new collections will be available for the spring/summer 2021 season. OLG recently obtained the license for Elie Saab’s ready-to-wear. The first collection will ...
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News briefs
Rumbo has gone into administration
Rumbo has entered into a voluntary arrangement with creditors in an effort to reorganize its business. According to La Verdad, which first reported the news, the case is being processed by the Commercial Court 1 of Murcia, in southeastern Spain, where the multi-brand shoe retail group is headquartered. The legal ...
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ArticleVögele Shoes goes multichannel, focuses on digitalization
Swiss footwear retailer Vögele Shoes is revising its strategy and organization in a bid to reposition itself as an omnichannel retailer and cater to its customers’ needs through a data-driven approach and a wide range of digital touchpoints. During the Covid-19 related lockdown, Karl Vögele AG, which owns the banners ...
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Article
LVMH first-half revenues down by 27%
LVMH’s first-half revenues fell by 27 percent to €18,393 million, with organic sales declining by 28 percent, due to the impact of the Covid-19 pandemic. The French luxury goods group has observed strong signs of an upturn in activity since June, but remains “very vigilant” for the rest of the ...
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News briefs
Showroomprivé launches €10 million capital increase
Showroomprivé, a French online retailer specializing in flash sales, launched a €10 million rights issue guaranteed by its founders David Dayan and Thierry Petit. The proceeds will finance the company’s general expenses. As of May 31, its net cash was €12.7 million. Shareholders can obtain 22 new shares for 17 ...
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News briefs
Ferragamo obtains €250 million financing for ESG objectives
Salvatore Ferragamo has reached a €250 million financing agreement with the leading Italian bank Intesa Sanpaolo to fund environmental, social and governance (ESG) objectives as well as general cash flow needs. The financing is composed of a €125 million term loan credit line expiring in 2025 and a €125 million ...
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News briefs
Luis Onofre re-elected president of Apiccaps
Luis Onofre was re-elected for three years as president of Apiccaps, the Portuguese association grouping manufacturers of footwear, components and leathergoods. Onofre said that at a time when Europe is discussing its reindustrialization it is important that Portugal creates the conditions to ”definitively assert itself as a leader in the ...
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Article
Chaussea obtains 128 La Halle stores
The French footwear retailer Chaussea is taking over 128 stores and 700 employees of the apparel and footwear retailer La Halle, which is being sold piecemeal after filing for insolvency. Founded in 1984 in Valleroy, near Metz, by Gaëtan and Michel Grieco, the sons of Italian immigrants from Basilicata, the ...
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News briefs
Iconix to review alternatives including a sale or merger
Iconix Brand Group, an American manufacturer and retailer of apparel and footwear, is studying “strategic alternatives” to enhance shareholder value, including a potential sale of the company or a merger with another party. The board has authorized management and its external advisors to consider a “broader range of strategic alternatives, ...
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News briefs
VF to open its first multi-brand store
VF Corp. will be opening its first multi-brand store, called Orefici 11 Milano, in the autumn. Located in the Italian city, the three-level, 22,000-square-foot store is meant to reflect its surroundings, mimicking the courtyards, façades and balconies of typical Milanese apartment buildings, the so-called case di ringhiera (guard-rail houses). As ...
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ArticleScarpe & Scarpe seeks debt restructuring agreement with creditors
The Turin-based footwear and apparel retailer Scarpe & Scarpe has entered into a preliminary insolvency procedure, known pre-concordato or concordato preventivo in bianco, granting it temporary protection from creditors while seeking a debt restructuring arrangement. Usually, the procedure provides a company two to four months to reach an agreement with ...
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ArticleSkechers posts loss in Q2, builds on e-commerce momentum
The pandemic significantly impacted Skechers during the second quarter, as it ended the period with a net loss of $68.1 million against a profit of $75.2 million for the same quarter last year. Its revenues tumbled by 42.0 percent to $729.5 million, or by 41.0 percent in constant currencies. These ...
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News briefs
EU sees trade deal with U.K. as unlikely
Michel Barnier, the European Union’s chief negotiator for Brexit, said he views the possibility of reaching an agreement by the end of the year with the U.K. on the parties’ future trade relations as unlikely, following a new round of inconclusive talks in London. Barnier said there had been little ...
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Article
Partial management buy-out for Globus
Globus, the big Swiss department store chain, and its Navyboot and Schild subsidiaries are changing hands again, just a few months after the Austrian-based Signa Retail Group and Thailand’s Central Group joined forces to take over the Swiss group this past February from the previous owner, the Migros cooperative of ...
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Article
Klarna moves to contain impulse buying
Klarna, the Swedish online financial services specialist that works with groups including VF Corp.’s brand Timberland, Scottish footwear retailer Schuh and British online fashion retailer Asos, has launched a new campaign in the UK called KlarnaSense to encourage shoppers to ”think thrice” before making purchases. The campaign against impulse buying ...
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News briefs
Yoox, Armani lay out a new distribution model
Yoox Net-a-Porter (YNAP), the fashion online retailer owned by the Swiss luxury group Richemont, is creating with the Italian fashion group Giorgio Armani a new distribution model that will further the partnership between the two companies that have been working together for 20 years. Under the new agreement, which will ...
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