All Shoe Intelligence articles in Volume 22, Issue 22+23 – Page 2
-
ArticleClarks’ landlords criticize the rescue plan’s terms
The British shoe maker Clarks has been accused of freezing landlords out of discussions over its £100 million (€110.9m-$130.0m) bailout by Hong Kong-based private equity firm LionRock Capital. Landlords are furious that despite facing large losses on rent write-offs, they will only represent 25 percent of a vote to approve ...
-
ArticleEU estimates Amazon broke competition rules
The European Commission believes Amazon violated competition rules by unfairly benefiting from non-public data on independent sellers who use its marketplace, it said in its preliminary findings from an antitrust investigation underway against the American e-commerce giant since last year. The European Union’s executive body added it was also launching ...
-
ArticleGlobal footwear demand seen down by 22.2% in 2020
Global demand for footwear is expected to fall by 22.2 percent this year, due to the impact of the Covid-19 pandemic, according to an updated forecast made by a panel of experts for the latest Business Condition Survey of World Footwear. In its April edition, panelists had estimated the decline ...
-
ArticleVF buys Supreme in $2.1bn deal
VF Corp. has announced a definitive agreement to acquire Supreme, a young and cool American streetwear brand that has become an iconic symbol of a countercultural approach to fashion. The transaction is expected to close before the end of 2020 and is based on an enterprise value of $2.1 billion ...
-
ArticleEurazeo takes over premium sneaker brand Axel Arigato
Eurazeo, the French investment company which recently sold its remaining stake in Farfetch, has bought a majority stake in Axel Arigato, a Swedish brand of premium sneakers, ready-to- wear and accessories for €56 million. The investment was carried out by Eurazeo Brands, a division focused on consumer brands. The company ...
-
News briefs
Deckers Brands highlights CSR goals and achievements
Deckers Brands has released its Creating Change FY20 Corporate Responsibility and Sustainability Report, in which the group highlights its achievements toward its sustainable development goals during the reporting year from Apr. 1, 2019 to March 31, 2020. Deckers owns a portfolio of footwear, apparel and accessories brands for casual lifestyle ...
-
News briefsMelania changes ownership
Melania Italia, an Italian footwear company specializing in children’s shoes based in the footwear cluster in the Marche region, has been sold by the founding Gironacci family to two investors, F. & C. Gruppo Imprenditoriale d’Investimenti and Società and D’Amico Group Holding & Company. Melania was founded in 1966 by ...
-
News briefsRumbo to close down
The Spanish footwear retailer Rumbo will close down after having failed to reach an agreement with its creditors to relaunch its business. The Murcia-based company has 68 stores and posted sales of about €25 million in 2019. Rumbo went into administration in June, but the court-appointed administrator, the legal firm ...
-
ArticleFarfetch, Alibaba, Richemont, Pinault family form a formidable alliance in digital sales
Farfetch, Alibaba, Richemont and the Pinault family, which owns the French luxury goods company Kering, have entered a global partnership with the declared intent of providing luxury brands with “enhanced access” to the Chinese market as well as accelerating the digitization of the global luxury industry. Under the agreement, Farfetch ...
-
News briefs
Alibaba grows by 30% in Q3
Confirming a recovery from the first wave of the Covid-19 pandemic in China, the Alibaba Group reported a 30 percent increase in overall revenues to 155.1 billion yuan renminbi (€19.9bn-$23.5bn) in the third quarter, leading to a rise of 28 percent in adjusted Ebitda to RMB 47.5 billion ($6.1bn-$7.2bn). The ...
-
Article
Better-than-expected Q3 results for Wolverine
Although they were down on last year’s third quarter, Wolverine Worldwide posted better-than-expected sales in the three months to Sept.26, led by double-digit growth from Saucony and Chaco. The impact of coronavirus-related restrictive measures on retail was partly offset by a growth of 56.4 percent in the group’s own e-commerce ...
-
ArticleJimmy Choo sees opportunity to hike prices, expand casual footwear range
Jimmy Choo has reached breakeven in the second quarter and sees the opportunity to significantly increase its prices and to expand its casual footwear assortment.
-
ArticleBogs steps up as Covid lockdowns hit Q3 sales at Florsheim
U.S. shoemaker Weyco swung to a third-quarter loss as lower casual and formalwear sales offset a strong performance from the Bogs North American outdoor wholesale unit. The company, which also owns the Florsheim, Stacy Adams and Nunn Bush brands, reported a net loss of $5.9 million for the three months ...
-
News briefsVRG rebrands Accent stores as Rizzo
Venue Retail Group (VRG) is converting its Accent stores in Sweden and Morris stores in Norway to a new store concept which it has been testing since July 1 and currently has four pilot shops. The pilots have shown “a very positive development and we have received the answers we ...
-
ArticleClarks reaches £100m rescue deal with private equity LionRock
The Asian private equity firm LionRock Capital has reached an agreement to rescue the iconic British shoe brand Clarks in a £100 million (€110.9m, $130.0m) deal that will see the founding family keep a stake in the business. The deal, which requires approval of a Company Voluntary Arrangement (CVA), will ...
-
ArticleZalando Q3 sales volumes up by 29.9%
In the third quarter, Zalando’s gross merchandise volume (GMV) grew by 29.9 percent to €2.5 billion while revenues advanced by 21.6 percent to €1.8 billion. The German e-tailer continued to benefit from accelerated consumer shift towards digital purchases and the “strong performance “of its Partner Program and Lounge services. Adjusted ...
-
News briefsEurazeo sells stake in Farfetch
The French investment house Eurazeo has sold its minority stake in Farfetch, a London-based online marketplace for fashion and luxury goods brands and multi-brand boutiques present in 190 countries, for net proceeds of €90.4 million. After investing in Farfetch in 2016, Eurazeo said it helped Farfetch to develop business among ...
-
News briefsCrocs implements AI solution to block unauthorized web ads
Crocs has partnered with Namogoo Technologies on the implementation of a solution that automatically prevents unauthorized and distracting ads from appearing on the Crocs e-commerce site. The Namogoo Customer Journey Hijacking Prevention solution uses artificial intelligence (AI) to identify and block these ads, which are designed to look like native ...
-
News briefs
VF has a new VP of inclusion and diversity
VF Corp. has appointed Lauren Guthrie as vice president of global inclusion and diversity (I&D) in replacement of Reggie Miller, who is resigning. Guthrie has worked in merchandising for most of her career, first at Abercrombie & Fitch and Levi Strauss, then in an executive capacity at Nike, Old Navy ...
-
ArticleAmazon Q3 sales up 37%, net profit triples
Amazon’s third-quarter sales grew by 37 percent to $96.1 billion. They were boosted by booming online transactions during the coronavirus crisis worldwide, which prevented or discouraged shoppers from purchasing in physical stores. Excluding a $691 million favorable impact from year-over-year changes in foreign exchange rates during the quarter, sales increased ...
- Previous Page
- Page1
- Page2
- Page3
- Next Page
