All Shoe Intelligence articles in Volume 24, Issue 11+12
View all stories from this issue.
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SponsoredGupta Overseas: Sustainability embedded into the company from concept
Footwear design and manufacturing firm Gupta HC Overseas reveals why its quality over quantity ethos has been an integral part of its business and how this has led it to be one of the most innovative companies in the sector.
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PDF NewsletterShoe Intelligence Executive Edition: Vol. 24 - 11+12
Global footwear prices are expected to rise significantly due to higher costs | Expo Riva Schuh to hold 12 events focusing on sustainability, traceability, innovation | Geox confirms sales outlook | Dr. Martens lifts revenue guidance | Shoe Zone resumes dividend distribution | Casteller to expand in the U.S., domestically | The exodus of Western brands from Russia continues | Allbirds adopts more cautious FY22 outlook | Genesco expects promotional activity to rise | Designer Brands gains market share in North America | Boot Barn targets $1.740 bn in sales in 2023 | Lululemon’s shoe launch exceeds expectations | Yue Yuen’s profit dips on retail drag | Arezzo & Co posts best Q1 sales ever | Zalando launches a profit warning as sales decline for the first time | Global second hand footwear market seen reaching $43.1bn in 2032
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News briefs
Kohl’s in talks to be bought by Franchise Group
Kohl’s has entered into exclusive negotiations with Franchise Group for a period of three weeks. The decision comes after Franchise proposed to acquire the U.S. chain of department stores for $60.00 per share. The purpose of the exclusive period is to allow Franchise and its financing partners “to finalize due ...
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Article
Lululemon’s shoe launch exceeds expectations
Lululemon, a Canadian producer of performance apparel for yoga, running and training, said that the response to the launch in March of its first shoe, Blissfeel, was ”enthusiastic” and exceeded expectations. The company plans to increase inventories after running out of stock. ”We introduced our first shoe, Blissfeel, in March, ...
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ArticleThe exodus of Western brands from Russia continues
CCC and Vagabond Shoemakers have recently joined a long list of companies that have suspended operations on the Russian market, after Russia invaded Ukraine on Feb. 24, which led to international sanctions against the country. CCC closed all brick-and-mortar stores and temporarily suspended its online store in Russia. Previously placed ...
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ArticleDesigner Brands gains market share in North America
Designer Brands, the parent company of the footwear retailers DSW Designer Shoe Warehouse, Shoe Company and Shoe Warehouse, claims that it has gained market share in the U.S. and in Canada during the first quarter ended April 30 as it focuses on leading brands, as well as its own labels, ...
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News briefs
ABL Group buys the sneaker brand Tonakai
ABL Group, an Italian producer of leather goods, has bought an 80 percent stake in the sneaker brand Tonakai, as its develops its brand portfolio. Founded in 1947, ABL initially produced white label caused and launched its first own brand, the handbag label Rebelle, a year ago. Rebelle is expected ...
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ArticleExpo Riva Schuh to hold 12 events focusing on sustainability, traceability, innovation
Expo Riva Schuh & Gardabags, scheduled from June 11 to 14 in Riva del Garda, Italy, will be hosting 12 events focusing on sustainability, traceability and innovation. The events will involve more than 40 speakers and guests and will be live streamed on the show’s platform from the opening day ...
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ArticleCCC’s sales and margins grow in Q1
In the fiscal first quarter ended in April, the CCC Group posted sales of 1.9 billion zloty (€413m), up by 33 percent from a year earlier, with e-commerce contributing to 55 percent of revenues. The group pointed out that it achieved growth in all segments and that its spring-summer collection ...
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News briefs
OR Group undergoes a restructuring
The Russian footwear retailer OR Group, formerly known as Obuv Rossii, announced that its online marketplace Westfalika temporarily stopped accepting orders, as a part of an anti-crisis program embarked on by the company. OR Group has also started restructuring its retail network, closing the least profitable stores. In particular, three ...
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News briefs
DSM sells engineering materials business
The Dutch group Royal DSM reached an agreement to sell its engineering materials business to Advent International and Lanxess for an enterprise value of €3.85 billion. The business represented €1.5 billion of DSM’s total annual net sales and €334 million of its total adjusted Ebitda for 2021. DSM expects to ...
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News briefs
Arklyz buys Shoe City
Arklyz Group, the owner of the athletic specialty footwear and lifestyle retailer, The Athlete’s Foot (TAF), has bougth Shoe City, a Baltimore-based sneaker and streetwear lifestyle retail chain together with an online platform www.ycmc.com. Shoe City is an established local business, having started with one location in Baltimore in 1949. ...
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News briefs
Vivobarefoot partners with Bundlee
Footwear brand Vivobarefoot is partnering exclusively with Bundlee, a U.K.-based rental platform for children’s clothing, which is for the first time expanding its service to shoes. Founded in 2018 by Eve Kekeh, Bundlee offers children’s clothing on a rental subscription basis. The clothes are returned when the child grows up ...
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News briefs
S&P revises outlook for Wolverine Worldwide
S&P Global has revised its outlook on Wolverine Worldwide to negative but maintains its BB rating on the issuer credit rating. Wolverine ended the first quarter with a debt-to-equity ratio of 5.2x due to last year’s acquisition of Sweaty Betty, a $30 million settlement related to PFAS contamination at a ...
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News briefs
Record loss for Footway in Q1
After the company’s profit warning in March due to supply chain problems and decreased demand, the Swedish Footway Group has now published its Q1 financial report. The Ebit result landed at a negative71.2 million Swedish kronor (€-6.8m), compared to a loss of SEK 12.8 million in the first quarter of ...
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News briefs
DuPont Biomaterials sold, reincorporated as Covation Biomaterials
Following the completion of the purchase from DuPont for approximately $240 million, the Chinese Huafon Group has reincorporated former DuPont Biomaterials as a stand-alone company under the name Covation Biomaterials headquartered in the U.S. state of Delaware. Covation aims to create sustainable building blocks for customers to make innovative bio-based ...
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News briefs
Amazon not seen liable for sale of counterfeit Louboutin shoes
The advocate general of the Court of Justice of the European Union (CJEU), Maciej Szpunar, estimates that Amazon is not liable for the sale of counterfeit Christian Louboutin shoes on its platform. In 2019, Louboutin sought an injunction against the U.S. online retailer in courts in Luxembourg and Belgium on ...
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ArticleJimmy Choo posts record sales
In the fourth quarter ended ended April 2, Jimmy Choo posted revenues of $156 million, up by 25.8 percent year-over-year on a reported basis and by 29.1 percent at constant currency rates. For the full year, sales reached a record $613 million, up from $418 million a year earlier, as ...
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News briefs
Prada names Roberto Massardi as chief business development officer
Prada appointed Roberto Massardi as chief business development officer in May. He is responsible for the strategic development of the group through the pursuit of new business opportunities. At the start of his career, Massardi held different positions at Italian tyre manufacturer Pirelli before joining a first time Prada in ...
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ArticleDr. Martens lifts revenue guidance due to price hikes
Dr. Martens raised its sales guidance on the back of price increases that will take effect with the forthcoming autumn-winter collection, while its expectations regarding volume growth remain unchanged. The revised outlook comes after the iconic British brand sold a record number of boots and shoes in the full year ...
