All Shoe Intelligence articles in Volume 24, Issue 17+18
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PDF NewsletterShoe Intelligence Executive Edition: Vol. 24 - 17+18
Vietnam exports up 13% in first 7 months | Brazilian footwear exports continue to be strong | Ecco completes the renovation of its headquarters | Coats buys Renoflex and becomes a footwear component giant | How a Serbian shoemaker is benefiting from Russia’s need for new suppliers | Jimmy Choo continues to grow strongly | Della Valle wants to delist Tod’s | OR Group puts its Siberian shoe factory up for sale | Russian footwear brand Basconi plans to expand | Genesco cuts guidance as Journeys disappoints, U.K. consumers face headwinds | Designer Brands raises its full-year guidance again | Shoe Carnival Q2 hit by lack of athletic inventory | Caleres raises sales outlook after record Q2 | Wolverine lowers FY forecast | Crocs lowers its full-year outlook | Stuart Weitzman is profitable again despite a weak Q4 | Allbirds cuts costs and jobs as loss widens | Weyco’s main brands rise sharply, Forsake’s relaunch scheduled next year | ABG reaches deal to take over Ted Baker | Stella posts strong H1, warns about forthcoming demand | Yue Yuen H1 profits dragged down by Pou Sheng | Arezzo continues to post record sales | Grendene sees sales jump as Brazilian market recovers | Zalando sees return to growth in H2
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News briefs
Unbound Group names a new CFO
The British retailer Unbound Group said that its chief financial officer (CFO), Dan Lampard, intends to step down from the role and the board from Oct. 1, to take up the position of CFO with another business. Gavin Manson, currently a non-executive director of the company, will take over as ...
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Article
Apple now competes with Google, Meta in digital advertising
Apple is making strides in advertising adoption and is now competing with Google and Meta, according to a report released by appsumer. Apple Search Ads (ASA) has “joined the duopoly of Meta and Google at the top table of advertiser adoption as it grew adoption nearly four percentage points YoY ...
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News briefs
Superga in co-branding venture with Alaïa
The Belgian fashion designer Pieter Mulier, Alaïa’s creative director since 2021, has reinterpreted two of Superga’s sneakers as part of a co-branding initiative between the fashion house established by the Franco-Tunisian stylist Azzedine Alaïaz and the Italian shoe brand owned by BasicNet. The 2750 and 2790 sneakers were chosen as ...
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News briefs
Pegasus International continues to seek tenants for idle capacity
Pegasus International Holdings Ltd. reported a 36 percent increase in revenues from the manufacture and sales of footwear to $2,847,000 in the first half of 2022 from $2,095,000 a year earlier. Total first-half revenues increased by 51 percent to $5,261,000 from $3,479,000. In 2020, the company started to lease idle ...
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News briefs
British Footwear Association names Jane Wilson chair
The British Footwear Association (BFA) has appointed Jane Wilson as chair, replacing Robert Perkins, who held the job for four years. Wilson was previously a non-executive director on BFA’s board. Wilson is chief executive at William Lamb Group since 2018. She previously worked for companies such as Start-Rite and Clarks. ...
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News briefsBrazilian footwear component exports up 20%
Brazilian exports of footwear components totaled $253 million in the first seven months of 2022, up by 20 percent year-over-year, according to Assintecal, the local association of leather, footwear and component companies. Exports were also up by 37 percent compared with the first seven months of 2019, indicating that the ...
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News briefs
VF cutting 600 jobs
VF Corp. the Denver-based company that owns brands such as The North Face, Timberland, Smartwool, Altra, Icebreaker and Vans, is cutting 600 jobs worldwide, the Denver Business Journal reported, citing a letter sent by the president and CEO, Steve Rendle, to employees. VF is axing 600 office-based roles, which will ...
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ArticleEcco completes the renovation of its headquarters
Ecco has completed the refurbishment of its headquarters located in Bredebro. The town, situated in southern Denmark, has been the company’s home since its foundation in 1963 by Birte and Karl Toosbuy. The site comprises various corporate functions including finance, supply chain, procurement, information technology, human resources and corporate responsibility. ...
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ArticleAlibaba unit Lazada to enter the European market
Alibaba’s unit Lazada plans to enter the European market and take on its online rivals such as Amazon and Zalando. In an interview with Bloomberg News, Lazada’s CEO, James Dong, highlighted that Europe is a “very big market” and that ”for most of the European brands, their largest retail partner ...
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ArticleRussian footwear brand Basconi plans to expand
Amid a mass exodus of Western brands out of Russia, the local footwear company Basconi plans to enhance efforts aimed at improving the brand’s recognition and continues developing its franchise network, Vitaly Ifraimov, co-owner of Basconi, told to the Russian press. Basconi runs a network of 50 stores in Russia ...
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ArticleVietnam exports up 13% in first 7 months
In the first seven months of 2022, Vietnamese exports of leather, footwear and leather goods totaled more than $14 billion, up by 13 percent year-over-year, in line with the forecast made at the start of the year by the Vietnamese leather, footwear and handbag association, Lefaso. Lefaso had predicted that ...
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ArticleGenesco cuts guidance as Journeys disappoints, U.K. consumers face headwinds
Genesco cut its sales and earnings guidance for fiscal year 2023 after the Journeys business failed to meet expectations in the second quarter and as it also adopts a more conservative outlook in the U.K., where management noted that consumers are increasingly facing economic headwinds. Genesco is now forecasting full-year ...
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News briefsToray announces renewable nylon 66 breakthrough
Tokyo-based Toray Industries announced that it has developed what it claims is “the world’s first 100% bio-based adipic acid,” a raw material for nylon 66 (polyamide 66). The company achieved this breakthrough using a proprietary synthesis technique that combines its microbial fermentation technology and chemical purification technologies. Nylon 66 has ...
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News briefs
ABG and Warson collaborate on Volcom and Frye work shoes
Authentic Brands Group (ABG) announced an expanded partnership with Warson Brands, a full-service manufacturer of protective and safety technologies and longtime partner of Reebok. Warson has committed to designing, developing and distributing high-quality professional footwear for the Frye and Volcom brands in the U.S. and Canada. The Frye Company will ...
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ArticleDesigner Brands raises its full-year guidance again
Designer Brands released a new update in its full-year guidance after better-than-anticipated second-quarter results. The company raised its full-year diluted earnings per share guidance to a range of $2.05 to $2.15 from a previous forecast of $1.90 to $2.00, which had already been upgraded in April 2022 from $1.75 to ...
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News briefsKeen releases women’s hiking shoe
Source: Keen Footwear For autumn/winter 2022, Keen is introducing the Terradora Flex, a women’s hiking shoe designed for athleisure use, on the trail and in town. It combines the Terradora model’s fit with the Keen brand’s Bellows.Flex air-cushioning system, located at the flex point of the forefoot. ...
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News briefsShoe Zone hikes its full-year guidance again
Shoe Zone improved its full-year guidance again and now expects adjusted profit before tax for the financial year ending Oct. 2 to be ”not less” than £10.5 million (€12.2m).The forecast excludes the profit on the sale of freehold property and foreign exchange revaluations. The British footwear retailer previously forecast adjusted ...
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News briefs
Amazon in green hydrogen supply deal
Amazon has signed an agreement with Plug Power to supply 10,950 tons per year of green hydrogen for its transportation and building operations, starting in 2025. The move is part of Amazon’s efforts to meet its Climate Pledge commitment to be net-zero carbon across its operations by 2040. Amazon co-founded ...
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ArticleStella posts strong H1, warns about forthcoming demand
In the first half of 2022, Stella International increased revenues by 18.9 percent to US$827.2 million from $695.5 million a year earlier, driven by higher orders from its manufacturing business. However, the growth rate indicated a slowdown in the second quarter compared with the first quarter, when the top line ...
