All Shoe Intelligence articles in Volume 23, Issue 50+51
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PDF NewsletterShoe Intelligence Newsletter: Vol 23 - 50
Geox to return to pre-Covid levels in 2024 | Dr. Martens posts stronger H1 results | U-Power bides time for IPO | Clarks’ 2-month strike over | Allbirds’ Q3 sales rise 33% | Genesco sees supply chain problems lasting | Designer Brands posts strong sales | Shoe Carnival buys Shoe Station | Snipes buys Jimmy Jazz | Khadim India returning to pre-Covid levels | Farfetch buys Luxclusif
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News briefs
RVRC launches hiking shoes
The Swedish retailer of outdoor clothing RevolutionRace (RVRC) launched a line of hiking shoes. The company describes the Phantom Trail Mid, its first-ever footwear model, as being a waterproof hiking boot for men and women with the flexibility of a trail running shoe, designed for various activities all year round. ...
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News briefs
Rizzo makes offer to creditors
Rizzo Group has made an offer to its creditors to avoid bankruptcy. The Swedish retailer’s composition offer, which also applies for its subsidiary Rizzo International, involves the entire payment of unsecured debt up to SEK 2,000 (€195-$220) and 25 percent of any excess amount. The company has been in corporate ...
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ArticleDesigner Brands posts strong quarterly sales
In the third quarter ended Oct. 30, Designer Brands posted sales of $853.5 million, up by 30.7 percent from a year earlier. Comparable sales increased by 40.8 percent. Sales of the group’s U.S. retail segment rose to $709.6 million from $501.9 million a year earlier, with women’s footwear revenues increasing ...
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News briefs
Huntsman and Shincell create fully recyclable TPU foam
The American chemical group Huntsman said that it has developed a new thermoplastic polyurethane (TPU), which is fully recyclable, UV protected and can be extruded into a film and then expanded into foamed sheets. The TPU was developed in conjunction with the Chinese firm Shincell New Material Company, which is ...
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News briefs
Sequential settles with the SEC
The U.S. Securities & Exchange Commission (SEC) has reached a settlement with the bankrupt Sequential Brands Group, ending a pending civil suit against the American licensing company. Based on its reported assets and liabilities in the bankruptcy case, Sequential will have to pay no penalties. The SEC had accused Sequential ...
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News briefs
Former Nike footwear product manager joins Arc’teryx
Arc’teryx has appointed Ovidio Garcia as vice president of footwear. He will be reporting directly to Katie Becker, Arc’teryx’ chief creative officer. Garcia brings 15 years of experience at Nike in product management, merchandising and product operations for footwear on a global scale, most recently as global footwear product operations ...
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News briefs
Kingmaker posts a negative gross margin due to Covid
The mandatory payment of minimum wages to factory workers idled by the Covid pandemic caused Kingmaker to post a negative gross margin for the first half of its fiscal year ended Sept. 30, leading it to report a net loss of 15.5 million Hong Kong dollars (€1.8m-$2.0m) compared with a ...
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News briefs
Higg appoints a chief strategy officer to lead the platform’s expansion
Higg, the environmental software platform responsible for the Higg Index, has appointed James Schaffer as chief strategy officer to lead business development and partnerships. Schaffer’s experience in developing industry initiatives in the apparel sector, where Higg’s platform is widely used, is expected to be instrumental in guiding the company’s expansion ...
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News briefs
Veja opens a second Parisian store
Veja, the French brand of eco-sneakers, has opened a second store in Paris. Located in the hilltop quarter of Montmartre, the store was designed by the Veja studio and the architect Hugo Haas. While it has retained many of the elements already present – the premises were formerly occupied by ...
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News briefs
OR Group reports a surge in Black Friday sales
OR Group, formerly known as Obuv Rossii, reported a substantial rise in online sales during Black Friday, held on Nov. 26. Online sales jumped by 44 percent in volume and by 30 percent in value, compared to a year earlier, the company said, not providing any additional details. OR Group ...
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News briefs
Euro Shoes and CPM to be held together in Feb
The leading Russian fashion trade shows Euro Shoes and CPM will be held jointly from Feb. 21 to 24 at the Expocentre exhibition hall in Moscow. “It will be an unprecedented exposition of fashionable clothes and shoes in terms of diversity and vastness,” the companies said in a joint statement, ...
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ArticleFarfetch buys Luxclusif to bolster resale service
The British online retailer of luxury brands Farfetch has purchased the resale platform Luxclusif to bolster its resale service. No financial details were disclosed. Farfetch said that the acquisition will allow it to ”significantly accelerate” its resale capabilities through the development of key technology and service features such as automated ...
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ArticleDr. Martens posts stronger H1 results, but warns about U.S. shipping delays
Dr. Martens posted a 46 percent rise in interim profits, driven by a recovery in store sales as they reopened after Covid lockdowns, but the company warned that shipping delays in its U.S. business would continue into the next fiscal year. Pre-tax profit for the six months to Sept. 30 ...
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News briefs
Amazon fined €1.129bn in Italy
The Italian fair trade agency, AGCM, has fined U.S. online retailer Amazon €1.129 billion for abuse of dominant position in order fulfilment. The regulator fined the companies Amazon Europe Core, Amazon Services Europe, Amazon EU, Amazon Italia Services and Amazon Italia Logistica. It noted that Amazon has a position of ...
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News briefs
Dutch consortium develops shoelaces from old denims
Four companies from the Dutch province of Limburg have jointly developed shoelaces from recycled jeans. The companies are DenimX, which upcycles denim waste, Eurocarbon, which makes woven reinforcements, the paper company Paperwise and Emma Safety Footwear, which will be the first to use the laces. Hultafors, the Swedish group that ...
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News briefs
Responsible Packaging Movement reaches 100 signatories
The Responsible Packaging Movement, launched last year by Columbia Sportswear’s prAna brand, has reached 100 signatories thanks to the addition of the footwear brands Sorel and Hoka. On its website, prAna explained that its goal is to completely eliminate plastic from its consumer packaging by 2021, as well as eliminate ...
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News briefs
Bavarian footwear retailers exempted from new Covid restrictions
Shoe retailers in Bavaria will not have to apply harsher Covid-19 restrictions rolled out in the whole of Germany for stores selling non-essential goods. According to a decision by Bavaria’s regional government, footwear retailers, along with other trades such as food stores, pharmacies, medical supply stores, opticians, bookstores, gas stations, ...
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News briefs
Rockrooster diversifies into hiking, outdoor footwear
Rockrooster, an Australian safety and work boots brand founded in 1980, announced its expansion into hiking and outdoor footwear. The company had started to sell several outdoor style boots by the end of 2020 but decided to launch a new consistent line of 15 outdoor shoes in 2022 that is ...
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ArticleGeox plans to return to pre-Covid sales levels in 2024
Geox expects to approach pre-Covid sales levels in 2024, when it plans to achieve sales of over €800 million compared with €806 million in 2019. The Italian footwear company anticipates to finish 2021 with sales above €600 million. The compound average growth rate (CAGR) between 2021 and 2024 is estimated ...
