All Shoe Intelligence articles in Volume 24, Issue 19+20
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PDF NewsletterShoe Intelligence Executive Edition: Vol. 24 - 19+20
Stocks of Brazilian footwear manufacturers outperform in Q3 | VF Corp. maps out growth strategy, trims FY23 outlook | Stuart Weitzman expects to outperform the market | Tod’s’ sales return to pre-Covid levels | Tod’s’ minority shareholder buyout to start on Sept. 26 | Ferragamo beats expectations despite slowdown in China | Inditex books strong H1 sales | Hotter Shoes lifts sales but notes pressure on consumer spending | Pittards sees “strong” order book after H1 sales rise 7% | Nice Footwear’s sales and profits rise sharply | Boohoo issues profit warning as H1 sales slump, product returns increase | San Marina placed into receivership | Consumer and business sentiment sinks in Europe | German shoemakers concerned about the future despite H1 rebound | Half of Italian footwear companies’ revenues still below pre-Covid levels | How reshoring to Spain is being hampered by labor and capacity shortage | How Italian manufacturers are crossing the Rubicon to preserve their industry | A report confirms the shift out of China into Vietnam
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ArticleStocks of Brazilian footwear manufacturers outperform in Q3
In the third quarter of 2022, the stock prices of footwear companies and associated sectors monitored by Shoe Intelligence were on average virtually unchanged, falling by less than 3 percent when compared with the previous three months. But, the figure conceals noticeable disparities between the panel’s subsegments. The cohort of ...
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News briefs
Crocs’ chief operating & transformation officer leaves
Crocs’ executive vice president and chief operating & transformation officer, Elaine Boltz, will leave the company on Oct. 14. Boltz will be entitled to the payments and benefits relating to her separation from the company as set forth in her employment offer letter as well as a special one-time discretionary ...
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ArticleGruppo Florence buys two shoemakers
Gruppo Florence, an Italian conglomerate of suppliers for the fashion industry, has bought three companies, including two shoemakers, bringing the number of companies acquired in less than two years to 17. It is the group’s first foray into footwear manufacturing. Florence now generates more than €350 million in annual revenues ...
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ArticleZalando increases its fleet of Magazino robots
Zalando has purchased 29 additional order picking robots from the German start-up Magazino, increasing its fleet to 57 units. The German online fashion retailer, which has invested in Magazino, initially bought two of the robots called Toru in 2018, before increasing the fleet by six units in 2019 and a ...
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Article
VF Corp. maps out growth strategy, trims FY23 outlook
VF Corp., which counts a dozen brands in its portfolio, is targeting a five-year compounded annual revenue growth rate in the mid-to high single digits, earnings per share expansion of high single to low double digits and an operating margin of approximately 15 percent by FY27. The U.S. parent of ...
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ArticleBirkenstock to invest €110m in Pasewalk plant
Birkenstock now expects to invest about €110 million in its new German production site in Pasewalk, scheduled to come on stream in autumn 2023. The investment is a record for the company and significantly above the initial estimate for the project. The German footwear group described the investment in the ...
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ArticleConsumer and business sentiment sinks in Europe
Consumer confidence continues to decline significantly in Europe due to rising inflation, an erosion in purchasing power and concern about the future due to a worsening of the macroeconomic environment and rising geopolitical tension following Russia’s invasion of Ukraine on Feb. 24. In October, German consumer sentiment is expected to ...
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ArticleBoohoo issues profit warning as H1 sales slump, product returns increase
Boohoo has issued a profit and sales warning after a 10 percent fall in first-half revenues driven by the cost-of-living crisis. The fast-fashion online retailer, whose brands include Pretty Little Thing and Nasty Gal, said revenues fell to £882million (€986.7m) in the six months to Aug. 31 and forecast annual ...
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News briefs
Burberry hires a new chief creative officer
Burberry has appointed Daniel Lee as its new chief creative officer. He will join the company on Oct. 3 reporting to chief executive Jonathan Akeroyd. Lee replaces Riccardo Tisci, who is leaving the company at the end of this month after almost five years in the job. Lee was the ...
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ArticleHow reshoring to Spain is being hampered by labor and capacity shortage
Demand to reshore footwear manufacturing from Asia to Southern Europe, and especially to Spain, is growing, but the Iberian country is lacking the capacity needed to significantly boost production, while exports of Spanish made shoes are back to pre-pandemic levels. “We are at full capacity and there is no more ...
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News briefs
Sales of Russian e-tailers surge
Russian online marketplaces are continuing to enjoy a surge in sales. Wildberries, Ozon, AliExpress Russia, SberMegaMarket and Yandex.Market jointly processed 400 million orders in the second quarter of 2022, up by 80 percent year-over-year. In value, turnover hit an all-time quarterly high of 500 billion rubles (€8.2bn), Moscow-based analytical agency ...
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News briefs
Vapesol launches soles made from factory waste of nitril gloves
The Portuguese company Vapesol, which manufactures more than five million pairs of soles yearly (according to its website), has teamed with the nitril glove company Raclac to produce of footwear soles from industrial waste. Raclac claims to be the only manufacturer of nitril examination gloves in Europe. Waste from its ...
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News briefs
NFW Footwear Collective is growing
New Balance and Wolverine Worldwide have joined Natural Fiber Welding’s Footwear Collective, a cooperative platform aiming to reduce the environmental impact of footwear across the value chain. Curect members include Allbirds, Camper, Deckers and Ralph Lauren. Katy O’Brien, senior manager of innovation at New Balance, said: “We have been ...
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ArticlePittards sees ‘strong’ order book after H1 sales rise 7%
Pittards, the British leather and leather goods company, posted revenues in the first half ended June 30 of £10.4 million (€11.7m), up by 7 percent on the year earlier, as its sales order book remained “strong” across market sectors. The gross margin in the six-month period widened to 30 percent ...
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ArticleItalian shoemakers start using the VCS self-assessment ESG program
VCS (Verified & Certified Steps), a software package allowing the self-assessment of environmental, social and governance (ESG) performances launched by Assocalzaturifici, the Italian footwear association, is currently being tested by three Italian shoemakers. “We chose three companies of different sizes and with different business models” for the pilot tests, explained ...
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ArticleGerman shoemakers concerned about the future despite H1 rebound
Despite a strong rebound in domestic and foreign sales in the first half of 2022, German shoemakers are concerned about the business environment due to growing inflation and the erosion of the purchasing power of consumers. Among German footwear manufacturers with more than 50 employees, sales rose by 11.6 percent ...
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ArticleSan Marina placed into receivership
The French footwear retailer San Marina was placed under controlled administration, or receivership, on Sept. 22 at its request by a Marseille-based commercial court. San Marina employs 673 people in 163 stores in France. The so-called observation period of the receivership is set to last until March 23, 2023, ...
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News briefs
Micam and sister fairs attract 35,470 visitors
The September edition of Micam, along with the three shows held with the Milan-based footwear trade fair, attracted 35,470 visitors, up by 20 percent from the event held in March 2022. Micam highlighted that there was strong presence of visitors from Spain, France and Germany as well as of buyers ...
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News briefs
U.K. to introduce VAT-free shopping for foreigners
During the presentation of new budgetary measures, Kwasi Kwarteng, the U.K.’s newly appointed finance minister, officially referred to as the chancellor of the exchequer, said that the government has decided to introduce VAT-free shopping for overseas visitors. “We will replace the old paper-based system with a modern, digital one. And ...
