All Shoe Intelligence articles in Volume 22, Issue 7+8 – Page 6
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News briefs
Confindustria asks landlords to postpone rents
The Italian government having halted most commerce until April 3, Confindustria Moda has written to commercial landlords asking them to postpone the payment of rents or renegotiate leases for the Italian fashion retailers it represents. The association’s president, Claudio Marenzi , worries that the situation in Italy is far ...
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Article
German suppliers and retailers cooperate in the Covid-19 crisis
The German shoe industry association, HDS/L , is working on a special program for retailers together with the BDSE , the federal association of shoe retailers, according to Schuhkurier . Each brand or manufacturer should define the shoe models from the current, already delivered, spring/summer collection whose sale will be ...
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Article
Zalando issues a profit warning, offers to help stores
Zalando has warned that its first-quarter results will not meet market expectations because of the impact of Covid-19. Meanwhile, the company is offering to waive commissions for participation in its Connected Retail program to German and Dutch retailers until May 31. The company will also postpone its annual general ...
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Short stops
Executive Changes short stops
+++ Andrew Tam Siu Ming , a former executive with Li Fung , will succeed Don Lee Kwok Ming as the new chief financial officer of Stella International, with immediate effect +++
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Article
Expo Riva Schuh and other shows are cancelled or postponed
Riva del Garda Fierecongressi has cancelled the upcoming editions of Expo Riva Schuh and Gardabags , both of which shows it organizes, because of the Covid-19 pandemic. They were scheduled for June 13-16 in Riva del Garda, Italy. In consultation with local and international exhibitors, visitors and ...
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Article
André hit by coronavirus
The once flourishing André chain of urban shoe shops, which has been struggling for several years, has been placed in insolvency proceedings, protecting it from its creditors. The lockdown of its 120 stores on March 16 because of the coronavirus outbreak was the final straw, as it lost nearly ...
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News briefs
Ferragamo acquires Arts
For about €15 million, Salvatore Ferragamo is buying the whole capital of Arts , an Italian company in Scandicci, near Florence, that specializes in the production of prototypes, engineering, quality control and the monitoring of suppliers for the production of men’s shoes. The owner of Arts is Gerry Ferragamo ...
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News briefs
Global bankruptcies expected to rise by 25% this year
Global bankruptcies are expected to rise by 25 percent this year because of an economic recession triggered by the Covid-19 pandemic, according to a new forecast released by Coface. The French credit insurer’s forecast assumes a gradual economic recovery starting in the third quarter and rules out a second wave ...
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Article
Geox sees 20% drop in DOS sales during Q1
Geox expects sales of its directly-operated stores (DOS) to have declined by 20 percent in the first quarter because of the impact of Covid-19. In the 12 weeks to March 22, comparable sales for DOS dropped by nearly 15 percent because of store closures, first in Italy and then ...
