All Shoe Intelligence articles in Volume 24, Issue 15+16 – Page 3
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News briefs
FootBalance appoints a chief people officer
FootBalance has appointed Kukka Salomaa as its first chief people officer. She joins the Helsinki-based company with over 15 years of global HR directorial experience, working across travel, distribution and retail industries. Salomaa will report to FootBalance’s CEO, Klaus Rauhansalo. The Finnish manufacturer of custom insoles is present in more ...
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News briefs
Aerosoles signs a licensing agreement with Orly to expand into men’s products
The American luxury comfort footwear brand Aerosoles has signed a licensing agreement with Orly Corporation for the distribution of men’s slippers, men’s and ladies flip flops, hanging footwear, men’s socks and roller skates for men, women and youth. The collections will complement the brand’s assortment of classic women’s styles. The ...
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News briefsDesigner Brands enters licensing agreement with Le Tigre
Designer Brands has entered a licensing agreement with Le Tigre 360 Global, that will add the Le Tigre label to its portfolio of ”owned brands”. The Ohio-based footwear company aims to double sales of the owned brands category by 2026. The current portfolio includes Vince Camuto, Reebok, Hush Puppies, Jessica ...
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News briefs
H&M pulls out of Russia
H&M announced that it would start winding down its business in Russia. The move will cost the Swedish apparel retailer about SEK 2 billion (€190m), of which SEK 1 billion will impact its cash flow. The amount will be accounted as a one-time cost in the company’s third-quarter results. The ...
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ArticleItalian footwear sales slow down due to war in Ukraine
Revenues of Italian footwear manufacturers are estimated to have risen by 8.1 percent in the first half of 2022 following a sharp slowdown in sales during the second quarter due to Russia’s invasion of Ukraine on Feb. 24. According to a survey carried out by Confindustria Moda’s research center among ...
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ArticleFootwear stocks track global markets lower in Q2
In the second quarter of 2022, footwear stocks declined significantly in line with global markets, which suffered their strongest pullback in decades. In the U.S., the S&P 500 index posted its worst performance in the first half of the year since 1970. Global markets were hit by raising inflation, a ...
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News briefs
Görtz revisits its purchasing strategy
The German footwear chain Görtz has revamped its purchasing strategy and underwent a management change to match its positioning as an omnichannel retailer. According to the Hamburg-based company, the traditional way of planning purchases by brands is being replaced by purchases based on trends and a new management position ...
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News briefs
Deckers appoints a new head for the fashion lifestyle division
On July 11, Anne Spangenberg started as president of fashion lifestyle at Deckers Brands. She will serve on the company’s executive leadership team, reporting directly to Dave Powers, chief executive officer and president of Deckers Brands. Most recently, Spangenberg was chief merchant for Nike. She will lead Deckers’ fashion lifestyle ...
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News briefs
Richemont Q1 sales up 12% in local currencies
In the first quarter ended June 30, Richemont generated €5.264 billion in sales, up by a reported 20 percent year-over-year and 12 percent higher at constant exchange rates. At constant currency rates, retail sales for the Swiss luxury goods group were up by 18 percent, online retail sales rose by ...
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News briefs
Crocs wins a counterfeit case
Crocs has announced a judgment against USA Dawgs and Double Diamond Distribution stemming from the sale of counterfeit Crocs shoes by the two companies. In the case, Crocs also obtained damages of $6 million and $55,000, respectively, against the companies. The case is the culmination of years of litigation between ...
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News briefsHeydude unveils new logo and look
After being acquired by Crocs for $2.5 billion earlier this year, the casual footwear brand Heydude has on July 11 unveiled a new logo via its social media accounts that was co-determined by the brand’s fans through focus groups in the U.S., a consumer survey and discussions in online forums. ...
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News briefs
GM Leather is listed on the Milan stock exchange
GM Leather, an Italian leather manufacturer, was listed on the Milan stock exchange on July 13. In its debut on the Euronext Growth Milan, the stock closed 1.63 percent higher compared to its initial public offering price (IPO) of €1.75 per share after having reached an intraday high of ...
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News briefs
Dr. Martens trading in line with its expectations
Dr. Martens said that trading since the start of its fiscal year is in line with its expectations and reiterated its full-year guidance. The company’s fiscal year runs from April 1 to March 31. The British shoemaker previously said that it expected full-year revenue growth reaching a high-teen rate thanks ...
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ArticleSinking euro signals EU’s slowing economic growth
For the first time in nearly two decades, the euro and U.S. dollar yesterday nearly reached 1-for-1 parity. That suggests a recession is on the horizon for the European Union, contends some economists. Experts contend there are several reasons the euro against the dollar has depreciated 12 percent since the ...
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ArticleC-Suite interview: Bioeco gears up for big push in Europe, prepares to test the U.S. market
Bioeco by Arka 1927, the brand of the Polish company Arka, is looking for agents in Germany, France, Spain and Italy as it readies for a big push in sales. The company will also be present at Magic Las Vegas, scheduled from Aug. 8 to 10, to test the U.S. ...
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News briefs
Walmart buys 4,500 electric delivery vehicles
Walmart has signed an agreement with Canoo, a U.S. mobility company, to purchase 4,500 all-electric delivery vehicles, beginning with the Lifestyle Delivery Vehicle (LDV), with the option to purchase up to 10,000 units. No financial details were released. The vehicles will be used to deliver online orders and will also ...
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News briefs
U.K. retail sales drop in June
In June, U.K. retail sales fell by 1.0 percent from a year earlier and were 1.3 percent lower on a like-for-like basis, a rate of contraction not seen since the depths of the pandemic, as inflation continues to bite, and households cut back spending, according to the latest Retail Sales ...
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News briefs
German economic sentiment collapses
The ZEW Indicator of Economic Sentiment for Germany slumped by 25.8 points month-on-month to minus 53.8 points in July. The assessment of the economic situation in Germany also decreased sharply and currently stands at minus 45.8 points, 18.2 points lower than in the previous month, according to the ZEW ...
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News briefs
Gap’s CEO steps down amid flagging sales
Gap’s president and chief executive officer Sonia Syngal has stepped down from her position and from the company’s board, and will depart the company following a brief transition. Syngal has been with the company for 18 years and was CEO since March 2020. She leaves as Gap suffers declining sales. ...
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News briefs
Italian Trade Agency joins forces with Zalando
The Italian Trade Agency, referred to as ITA in English and ICE in Italian, has partnered with the German fashion online retailer Zalando to promote Italian fashion goods and cosmetics abroad. ITA invested more than €1 million to create the gallery “Made In Italy” on Zalando’s platform and help select ...
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