All Shoe Intelligence articles in Volume 23, Issue 44+45
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PDF NewsletterShoe Intelligence Newsletter: Vol 23 - 44+45
Clarks CEO steps down | Shoe Zone lifts profit forecasts | Nice Footwear valued up to €16.5m | Pons Quintana expects stable sales | Skechers sees 19% sales gain | Steve Madden’s European sales top $60m | Allbirds up sharply in stock market debut | Most U.S. firms to boost sustainable materials | Alpargatas to invest in Havaianas expansion | Marcus Alexander launches on Stitch Fix | Fashion Bank offers credit insurance policy
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News briefs
Crocs to provide resale-as-a-service with ThredUp
Crocs is launching a resale program with ThredUp’s Resale-as-a-Service (RaaS) platform. The program is called “Clean Out” and is likewise intended to help the brand achieve net-zero carbon emissions – in this case by 2030 – and establish a circular economy. Customers in the U.S. can go online and print ...
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ArticleClarks CEO steps down after 10 months in role as strike drags on
The embattled British shoemaker Clarks said that its chief executive, Victor Herrero, has stepped down after only months in the job to take on “broader” responsibilities at its private equity parent firm. The announcement comes amid an ongoing strike by workers at the company’s Westway warehouse in Somerset over controversial ...
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ArticleSteve Madden sees European sales above $60m this year
Steve Madden continues to enjoy strong growth in Europe, where sales are expected to be above $60 million this year, representing growth of more than 85 percent compared with 2019. When including the Middle East and Africa, the EMEA region could post sales close to $100 million. In April, the ...
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ArticleFashion Bank offers a credit insurance policy to shoemakers
Fashion Bank, an Italian provider of data and credit ratings for the fashion industry, has entered an exclusive partnership with the Italian export credit agency Sace to offer a credit insurance policy for the fashion industry called Fashion Hub. The insurance policy was presented for the first time at a ...
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News briefs
Norda puts a graphene membrane into a shoe
Norda, the new Canadian brand of running shoes, has come out with what it claims to be the first shoe that features a graphene membrane. A British company, Inov-8, had put the material in its shoes before, but in their soles and midsoles. Graphene’s high thermal conductivity allows it to ...
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News briefs
U.K. anti-trust authority again blocks the JD Sports-Footasylum merger
The U.K.’s Competition and Markets Authority (CMA) issued a new verdict on Nov. 4 confirming its conclusion that JD Sports Fashion must divest Footasylum, the chain of sports fashion stores that it bought in May 2019, as it has resulted, or may be expected to result, in “a substantial lessening ...
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News briefs
Boohoo agrees preliminary terms of U.S. class action lawsuit
The British fast-fashion retailer Boohoo has agreed to terms of a preliminary settlement with parties that brought a U.S. class action claim alleging its promotions in California misled shoppers. The company said the preliminary settlement will be covered in full by its existing claims provisions, which stood at £19.1 million ...
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ArticleRocky Brands Q3 hit by warehouse congestion after brands acquisition
In the third quarter, Rocky Brands suffered congestion issues at its Ohio warehouse as well as a surge in operating and interest costs due to the integration of Honeywell International’s performance and lifestyle footwear business. In the period ended Sept. 30, the U.S. footwear company reported “temporary fulfillment challenges” and ...
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ArticleZalando’s Q3 profits slump in price-cutting war
Zalando reported a slump in third-quarter profits after cutting prices in response to promotions made at physical stores after Covid lockdowns were completely lifted in Germany and other key markets. While sales rose by 23 percent to €2.3 billion as compared to a year ago, adjusted operating earnings (Ebit) for ...
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News briefs
Mitchell & Ness revives century-old athletic brand
Mitchell & Ness has revived Hood Rubber Company, a footwear brand that closed up shop in 1972. The brainchild of Frederic and Arthur Hood dates back to 1896. In 1914 it was among the first to produce a basketball shoe, with a canvas upper, and to use aluminum, rather than ...
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ArticleWeyco sees an improvement in supply deliveries in Q4
The U.S. group Weyco enjoyed a rebound in sales and earnings in the third quarter of 2021, but bottlenecks in the supply chain caused delays in the delivery of merchandise from suppliers and hurt the sales of its outdoor brand Bogs. In October, however, the company began to see an ...
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ArticleJimmy Choo improves its full-year guidance
In the second quarter ended Sept. 25, Jimmy Choo posted revenues of $137 million, up by 12 percent from the prior year. The top line grew by 5 percent on a constant currency basis. The brand posted an operating income of $1 million, and the operating margin improved slightly to ...
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News briefs
OVS takes over Gap stores in Italy
The Italian apparel retailer OVS agreed to buy all 11 Italian stores of its U.S. peer Gap. The deal is anticipated to complete in February 2022. The two companies have worked together since early 2020. Through a franchise agreement, OVS offers GapKids in its stores and Gap Adult and Kids ...
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ArticleAllbirds rises sharply in stock market debut
Allbirds, the California-based producer of Wool Runner merino shoes and other eco-friendly sneakers and apparel sold in a direct-to-consumer mode, started trading on the Nasdaq exchange under the ticker symbol BIRD at an opening price of $21.21 per share on Wednesday, Nov. 3. That was about 60 percent above the ...
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News briefs
PLD introduces intermold technology into footwear
The U.S. company Parting Line Design (PLD) announced the introduction of the one-step injection molding solution Intermold in the footwear industry. The international group Aplix holds the patent for Intermold and the technology is already used in other industries including the medical, automotive and cleaning sectors. PLD explained that Intermold ...
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ArticleShoe Zone lifts profit forecasts again
The British retailer Shoe Zone has lifted its profit guidance after recent sales were better than expected. The company now anticipates annual profits to surpass pre-pandemic levels, less than two weeks after providing a trading update in which it warned that supply-chain constraints and inflation still presented challenges in the ...
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News briefs
Vans to release two collaborative collections
Vans’ two latest collections are collaborations with the Japanese streetwear brand Bape (A Bathing Ape) and the Italian outerwear brand Napapijri. Vans x Bape, which is due for release on Nov. 30, consists of redesigns of established Vans models – specifically two sneakers and a hoodie – that blend elements ...
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News briefs
VF makes new CSR pledges
VF Corp’s fourth sustainability and responsibility report says the group will achieve zero waste verification at all its warehouses and distribution centers by the end of this year, compared with 72 percent at present. This would mean that at least 95 percent of their waste will be diverted from landfills. ...
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News briefs
Zalando’s Zircle app adds resale option in Germany
Zalando has revamped and relaunched the Zircle app in its home market. German customers of the Zalando marketplace can now return articles of womenswear bought from their fellow customers there. All such items appear in the customers’ order history on the app. The new service will be extended to menswear ...
