All Shoe Intelligence articles in Volume 22, Issue 21 – Page 2
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ArticleStella continued to struggle in Q3
In a business update for the third quarter, Stella International said shipment volumes declined by 23.6 percent from the year-ago quarter to 12.3 million pairs, while its total sales plunged by 23.3 percent to $344.5 million, including those of its in-house brands. The Chinese footwear company’s revenues from manufacturing improved ...
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ArticleU.K. government under pressure over move to scrap tax-free shopping
The British Finance Minister Rishi Sunak is under mounting pressure from major retailers to reverse his decision to abolish duty-free shopping next year which they claim will lead to significant job losses. Leading U.K. fashion and luxury brands, including Paul Smith, Ted Baker, The White Company and Superdry, have warned ...
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News briefs
Vibram teams up with Balenciaga on footwear collection
Vibram is introducing the “Toe” collection, a collaboration with Balenciaga on a shoe range made from recycled knit. The collaborative collection consists of two limited-edition sneaker styles and a high-heeled model. The shoes feature Vibram’s patented FiveFingers shoe platform, which separates the five toes. Each item is stamped with both ...
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ArticleNew Italian fashion firm could expand into footwear
A newly created high-end Italian fashion firm known as Florence could look to expand into footwear and other accessories in the medium term after having built up a manufacturing hub in clothing, said Francesco Trapani, the chairman of Florence and former chief executive of Italian luxury jeweler Bulgari. Florence has ...
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ArticleFootwear stores hit hard in Moscow, St. Petersburg
In September, independent footwear stores in Russia experienced, on average, a 17 percent slump in sales, compared with the same period of the previous year, on the back of a second wave of Covid-19 in the country, Moscow-based think tank Evotor estimated. It is believed that chains are performing slightly ...
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News briefsYouTube is testing shopping features
Google is testing the idea of turning YouTube into an e-commerce platform, according to a Bloomberg report. YouTube is currently testing through a limited number of channels the option to buy items that feature in videos. The ”goal is to convert YouTube’s bounty of videos into a vast catalog of ...
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News briefsCPC completes purchase of Shoes.com
CriticalPoint Capital (CPC), a Californian-based private equity firm, has completed the acquisition of Shoes.com from Walmart. No financial details were released. Shoes.com is an online retailer of footwear, apparel and accessories present in the U.S., and internationally, offering a broad assortment of athletic to casual brands for women, men, and ...
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News briefs
Crocs enters collaboration with Justin Bieber
On Oct. 13, Crocs released a limited edition of clogs deriving from a collaboration with the Canadian singer Justin Bieber, the Canadian singer, globally including China and South Korea. The Crocs X Justin Bieber with drew Classic Clog were sold at $59.99 across select Crocs and partner e-commerce channels, including ...
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News briefsBrazilian shoe makers expect $1.2 million in orders from digital meetings
Digital business networking meetings held by 20 Brazilian footwear brands with buyers from Latin America are expected to generate about $1.2 million in business between orders that have been already received and talks initiated at the events, according to the local footwear association, Abicalçados. The events were organized between Aug. ...
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ArticleKurt Geiger plans 500 job cuts over U.K. plan to drop tax-free shopping
Kurt Geiger, a luxury footwear and accessories retailer, plans 500 job cuts, affecting over a quarter of its workforce, early next year after the British government announced that it would abolish tax-free shopping on Dec. 31. The standard value-added tax (VAT) is 20 percent in the U.K. In a letter ...
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News briefsFerragamo launches 3D made-to-order service
Salvatore Ferragamo has teamed with Microsoft and its technological partner Hevolus to offer a 3D made-to-order service enabling the customization of the Italian luxury brand’s Tramezza footwear styles. Thanks to Microsoft’s Azure Cloud computing service and its mixed reality technologies, upon which Hevolus’s Augmented Store at Home platform is based, ...
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ArticleVF returns profitable in Q2
After recording a loss and steep declines in revenues during its first fiscal quarter, VF Corp. , whose core brands are Vans, The North Face and Timberland, bounced back in the second quarter, ended on Sept. 26, with a smaller decline in sales and a return to profits. The management ...
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ArticleU.K. threatens no-deal Brexit but talks to continue
Tensions on stalled Brexit trade talks intensified as Boris Johnson, the British Prime Minister, said Britons should prepare for a no-deal departure if the European Union (EU) did not compromise, raising the prospect of supply chain chaos across Europe. Johnson stopped short of saying he was walking away from the ...
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News briefsLVMH’s Fashion & Leather Goods division grows in Q3
LVMH’s nine-month revenues fell by 21 percent to € 30,348 million, with organic sales also declining by 21 percent, due to the impact of the Covid-19 pandemic. In the sole third quarter, revenues were down by only 7 percent on an organic basis thanks to a return to growth in ...
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ArticleHigg to launch Open Data Portal to validate brands’ sustainability claims
At the Copenhagen Fashion Summit, technology company Higg Co has unveiled its new Open Data Portal, introducing sustainability transparency to the apparel industry at a global scale. Expected to launch in 2021, the new portal, developed in partnership with the Sustainable Apparel Coalition (SAC), will feature access to the actual ...
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ArticleVF matches its management to its new business model
VF Corporation is changing its management structure to suit changes in the way it does business, notably the grouping of all brands into dual portfolios. Core Brands comprises Vans, The North Face (TNF) and Timberland. Doug Palladini and Steve Murray have become global brand presidents of Vans and TNF, respectively. ...
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Article
Wolverine takes its sales conference digital again
Because of Covid-19 and its related safety measures, Wolverine Worldwide has expanded its partnership with Envoy B2B, taking its buyers’ conference digital. The American company was obliged to cancel its Global Brand Conference in the spring, depriving its 12 brands of a means to introduce their new products to the ...
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ArticleLenzing, Covestro help spearhead Renewable Carbon Initiative
Materials producers Lenzing and Covestro are among 11 companies from six countries that recently joined forces to launch the Renewable Carbon Initiative (RCI). The initiative, under the leadership of German research institute nova-Institute, aims to phase out the use of fossil fuels for all organic chemicals and materials by 2050 ...
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ArticleAsos to focus more on activewear
Fashion e-tailer Asos will expand its activewear offering as locked-down clients spurned party outfits in favor of sportswear and exercise gear during the Covid-19 pandemic, helping the company to almost quadruple full-year profits. The company said grabbing a greater share of the “huge” sportswear market along with beauty products is ...
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News briefs
Analpa has introduced “fashion comfort” with Grünberg
Claiming to have broken new ground by introducing the concept of “fashion comfort” in the shoe market, Analpa, the Russian-American parent of Keddo, has had a good ride with Grünberg, a new brand of relatively “cool” comfort shoes originally meant for the German-speaking market, which targets mainly young people. After ...
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