All Shoe Intelligence articles in Volume 23, Issue 31+32 – Page 2
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ArticleVF raises FY guidance as Q1 sales and profits beat estimates
VF Corp lifted its annual guidance after posting better-than-expected earnings and sales in its first quarter ended June 30 as retail demand for the company’s top brands continued to recover from the impact of the Covid-19 pandemic. Revenues for the three months more than doubled to $2,194 million, compared with ...
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News briefs
ThredUp buys European resale platform Remix
ThredUp, a U.S. online resale platform for women’s and kids’ apparel, shoes and accessories, has entered into a definitive agreement to acquire Remix, a Bulgarian-based fashion resale company. The acquisition will accelerate thredUP’s growth plans in Europe, where the secondhand market was estimated to be $21 billion in 2020 and ...
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News briefs
Hermès’ sales rise sharply in H1
The revenues of the French luxury goods group Hermès totaled €4,235 million in the first half, an increase of 77 percent year-on-year at constant exchange rates and 70 percent at current rates led by the Americas. At constant currency rates, sales in Asia, excluding Japan, rose by 86.5 percent. Japan ...
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ArticleTapestry creates foundation, boosts ESG targets
Tapestry, the New York-based owner of Coach, Kate Spade and Stuart Weitzman, has formed the Tapestry Foundation to advance access and equity initiatives and to combat climate change. In addition, the American group is accelerating and amplifying its environmental, social and governance (ESG) targets and committing to a $15 U.S. ...
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News briefs
APLF rescheduled to March 2022
The organizers of APLF-Leather, Materials+ and Fashion Access have rescheduled the events from November 17-19, 2021 to March 30-April 1, 2022 in Hong Kong. The events had already been posptoned from July 5-7 due to restrictions caused by the Covid-19 pandemic. In a statement, the organizers said that in ”the ...
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News briefs
Aeffe’s footwear, leather goods sales up 43.0%
In the first half of 2021, the footwear and leather goods division of Aeffe, the Italian fashion house that owns Pollini and other brands, posted an increase in sales of 43.0 percent at constant currency rates to €68.2 million. The division’s Ebitda rose to €8.0m, representing 11.8 percent of sales, ...
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ArticleGrendene Q2 hit by Covid-19 resurgence
In the second quarter of 2021, the Brazilian shoe maker Grendene was affected by a resurgence of the Covid-19 pandemic in Brazil between March and April, resulting in lockdowns and lower-than-expected orders during the two months as more than 65 percent of the country’s retailers were closed. Under its business ...
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ArticleJimmy Choo sees annual sales at $550m
In the first quarter ended June 26, Jimmy Choo posted revenues of $142 million, up by 178 percent from the prior year when results were badly hit by the outbreak of the Covid-19 pandemic. The top line grew by 147 percent on a constant currency basis. The brand posted an ...
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ArticleGeox closes its Serbian factory
Geox is closing down its Serbian plant in Vranje due to a decline in demand for formal men’s and women’s shoes, in which the factory is specialized. The plant was built between 2014 and 2015 and became fully operational in 2016. Its construction was heavily subsidized by the Serbian government. ...
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News briefs
Aquafil launches consumer e-shop for Econyl products
The yarn supplier Aquafil is reaching out to consumers. The Italian company has just launched an Econyl e-shop platform, where – for the first time – customers can buy a range of sports, lifestyle and fashion products made from the company’s regenerated nylon Econyl directly in one place. According to ...
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ArticleDeckers Brands posts Q1 sales growth, raises FY outlook
In the first quarter ended June 30, Deckers Brands reported a revenue increase of 78.2 percent to $504.7 million, leading to net earnings of $51.5 million against a loss of $6.9 million for the same period of last year. The company has raised its outlook and now expects net earnings ...
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ArticleDr. Martens warns of shipping delays due to Covid-19
The iconic British shoemaker Dr. Martens reported a big jump in first-quarter revenues, driven by continued growth in online sales and the reopening of stores. Revenues in the three months to June 30 rose by 52 percent year-on-year to £147.3 million (€173m-$205.6m). This was against a Covid-19-impacted comparative in 2020 ...
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News briefs
Shoepassion launches digital photo measurement tool
Berlin-based footwear company Shoepassion expanded its Shoepassion ID foot measurement tool with a specially developed allocation algorithm that allows to automatically identify the right shoe size through a smartphone camera. Shoepassion ID was launched around a year ago with the aim of facilitating online shopping and to reduce return ...
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News briefs
Lloyd Shoes expands sustainable product range with two new collections
The German shoe maker Lloyd Shoes is expanding its sustainable product range with the launch of new men’s and women’s collections crafted in innovative alternative materials for the coming autumn/winter season. For its sustainable capsule collection, the company uses materials made from recycled marine plastic and plastic from land ...
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ArticlePrada operating profit above pre-Covid level
Prada finished the first half with earnings before interest and taxes (Ebit) above pre-Covid levels thanks to a recovery in sales and disciplined cost management. In the first six months of 2021, overall revenues totaled €1,501 million, up by 60 percent year-over-year on a reported basis and by 66 percent ...
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ArticleSteve Madden Q2 above expectations
Steve Madden posted higher-than-expected results in the second quarter and has shifted a significant part of its production out of China to Mexico and Brazil to address supply chain issues. The company also reported strong growth in Europe thanks to e-commerce.
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ArticleOrthoLite pushes for zero waste in insoles
U.S. insole specialist OrthoLite, a supplier for over 350 footwear brands worldwide, has announced a widespread zero waste initiative to reduce the environmental impact of its products that are used in roughly 500 million pairs of shoes every year. The company’s commitment includes investment in a proprietary manufacturing system that ...
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